- Simultaneous global patent applications in over 50 countries worldwide
- All major battery producing countries and over 90% of global market covered
- Financing secured through selective issuance of existing convertible bond to large investors
Zug/Switzerland, 11 March 2015 – iQ Power Licensing AG (ISIN: CH0268536338; WKN/Security Number: A14M1C; Symbol: IQL) a developer and marketer of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles and licences in these technologies, announces the simultaneous global patent applications in over 50 more countries worldwide for the ground-breaking iQP-2 version of the iQ Power passive electrolyte mixing technology.
iQP-2 technology has already been approved by the European Patent Office under the rules of the Paris Convention Treaty (PCT) which allows for pre-national global patent protection. Following a 30 month grace period, patents must be applied at the national level in each country to be made legally enforceable.
The granting of the actual patents can take up to 5 years, however the patent protection exists from the date of application. The chances for success in all countries is very high due to the excellent review at the European level and the fact that iQ Power has never had a patent application denied to date.
As a technology driven company, patent protection for the Licensees is of great strategic importance. Due to universal global appeal of the iQP-2 technology and the growing importance of emerging markets, iQ Power management will apply for protection in over 50 countries. Already all major markets in South America are in the national application phase as well as several minor markets, such as Pakistan and Bangladesh, which do not participate in the PCT.
In doing so, iQ Power will have patent protection in all major battery producing countries in the world and total coverage will exceed 90% of the consumer market for batteries.
An application at the national level costs several thousand US dollars per country. The cost for the massive offensive will be financed through a limited issuance of the existing convertible bond, ISIN DE000A1GXE20, with end date 31-Dec-2016. Due to European regulations, the convertible bond may only be made available to a limited amount of subscribers on a private placement basis. A rights offering or public offering is prohibited. Preliminary commitments from large investors will be sufficient to allow timely patent applications.