Tekcapital plc Out-licence & Strategic Alliance with Wecast (7920S)
28 December 2016 - 6:00PM
UK Regulatory
TIDMTEK
RNS Number : 7920S
Tekcapital plc
28 December 2016
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR)
Tekcapital plc
("Tekcapital" or "the Company")
Out-licence of High-efficiency AC Patents &
Strategic Alliance with Wecast Technology Group
Tekcapital plc (AIM: TEK), an international provider of
technology and intellectual property services, announces that it
has out-licensed the exclusive worldwide rights to its portfolio of
nine patents(1) for the improvement of air conditioning efficiency
and has formed a Strategic Alliance with Wecast Technology
Group.
Out-license Agreement
Tekcapital has signed an out-license agreement for the exclusive
worldwide rights to its portfolio of nine patents for the
improvement of air conditioning efficiency, developed by the
University of Central Florida. The technology is aimed at improving
the efficiency of central air conditioning systems and is designed
to achieve up to a 25% efficiency improvement in condenser fan
operations, compared with existing air conditioning units. This
intellectual property portfolio was developed and tested at the
Florida Solar Energy Center (FSEC), a research institute of the
University of Central Florida, and the exclusive rights to the
intellectual property were previously acquired by Tekcapital for,
inter alia, royalty payments on any associated future revenue.
Industry Potential for the Technology
According to the Air Conditioning, Heating, and Refrigeration
Institute, there were 4,545,876 central air-conditioning units sold
in the United States in 2015(2) . The Directors believe that the
central air conditioning energy efficiency improvements
contemplated in the licensed portfolio may become the condenser fan
design of choice, and could gradually replace the relatively flat
blade design that is typically in use globally.
Terms of the Out-License Agreement
The portfolio has been exclusively out-licensed to Wecast
Technology Group for the life of the IP. Wecast Technology Group is
a subsidiary of Sun Seven Stars Entertainment & Media Group
Limited, one of the largest and most diversified private media and
investment companies in China. The terms of the license include an
up-front payment to Tekcapital of US$100,000 and a 5% royalty on
sales. Beginning with the second year of the license agreement,
there is a US$100,000 minimum annual royalty payment.
Strategic Alliance & Exclusive Distribution Agreement with
Wecast Technology Group
Separately, Tekcapital and Wecast Technology Group have signed a
five-year strategic alliance and distribution agreement, whereby
Tekcapital will exclusively supply additional licensed university
technologies for Wecast to commercialize on the electronic
exchanges they operate. Under the terms of the Agreement, Wecast
has committed to acquiring a minimum of ten intellectual property
licenses per year from Tekcapital. Additionally, on a non-exclusive
basis, Wecast will also seek to introduce and re-sell Tekcapital's
IP services to its large network of clients. Tekcapital will
continue to provide clients with its IP services and offer
technologies for license that it has acquired for non-electronic
exchange customers.
Commenting on the announcement, Clifford M. Gross, Ph.D.,
Executive Chairman of Tekcapital plc, said:
"We are excited to have exclusively out-licensed our portfolio
of AC patents developed by the University of Central Florida. We
are also enthusiastic to be working with the Wecast Technology
Group to bring a wide variety of additional university technologies
to the marketplace. We believe that this alliance has the potential
to expand the market for university developed IP."
Tekcapital plc - The World's Largest University Network for Open
Innovation
Tekcapital helps clients profit from new, university-developed
intellectual properties. With our proprietary discovery search
engine, linked to 4,500+ universities in 160 countries, coupled
with expert scientific review, we provide a turn-key service to
make it easy for clients to find and acquire the IP, analytics and
technology transfer professionals they need to create a competitive
advantage. Tekcapital plc is listed on the AIM market of the London
Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in
the UK. For more information, please visit www.tekcapital.com
For further information, please contact:
Tekcapital Plc +1 305 200 3450
Clifford M. Gross, Ph.D. info@tekcapital.com
Allenby Capital Limited (Nominated
Adviser & Joint Broker) +44 (0)20 3328 5656
Jeremy Porter / Alex Brearley
Optiva Securities Limited (Joint
Broker) +44 (0) 20 3137 1904
Jeremy King / Vishal Balasingham jeremy.king@optivasecurities.com
Walbrook PR Ltd +44 (0) 20 7933 8780
Paul Cornelius / Paul McManus tekcapital@walbrookpr.com
Notes
----------------------------------------------------
1. List of Out-licensed Patents
1. High Efficiency Air Conditioner Condenser Fan 7,014,423
2. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 510,998
3. High Efficiency Air Conditioner Condenser Fan with Performance Enhancements 7,249,931
4. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 539,413
5. High Efficiency Air Conditioner Condenser Fan DIV 7,568,885
6. High Efficiency Air Conditioner Condenser Fan with Performance Enhancements 7,618,233
7. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 555,782
8. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 566,263
9. High Efficiency Air Conditioner Condenser Twisted Fan Blades and Hub D 566,829
2. Cited Reference for Current AC Market Size
http://www.ahrinet.org/site/496/Resources/Statistics/Historical-Data/Central-Air-Conditioners-and-Air-Source-Heat-Pumps
This information is provided by RNS
The company news service from the London Stock Exchange
END
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