Lloyd's of London Issues Notice of Insurance to Litex Inc. for Patent Enforcement in Diesel and Gasoline Plasma Assisted Catalyst Aftertreatment
15 November 2000
Lloyd's of London Issues Notice of Insurance to Litex Inc. for Patent Enforcement in Diesel and Gasoline Plasma Assisted Catalyst Aftertreatment
SHERMAN OAKS, Calif.--Nov. 15, 2000--Litex Inc. is pleased to announce the acquisition of $5 million of patent insurance coverage from various syndicates of Lloyd's of London.This insurance will reimburse Litex for costs and legal fees it may incur should enforcement of its intellectual property rights related to its broad patent portfolio in non-thermal plasma assisted catalysis become necessary.
Non-thermal plasma assisted exhaust aftertreatment is rapidly emerging as one of the most promising new emissions control technologies. Litex is actively engaged in licensing its plasma assisted catalysis technology and intellectual property to global automotive suppliers and automobile manufacturers. Prototype systems are available for evaluation and applications development.
To protect the rights of its licensees, Litex is prepared to vigorously enforce its intellectual property rights against infringing organizations in all applications, including but not limited to diesel, lean burn gasoline, stoichiometric gasoline, stationary power generation, VOC abatement and fuel-cell. The Lloyd's insurance increases the reserves Litex has in place for supporting such enforcement of its intellectual property rights and licensing activities whenever and wherever required. The leading New York law firm of Pennie & Edmonds LLP is responsible for handling all Litex patent related matters.
The portfolio is comprised of seven patents which cover the treatment of exhaust gases from internal combustion engines including diesel and lean-burn gasoline with non-thermal plasma assisted catalysis. Three patents are assigned to the Lockheed Martin Corporation with exclusive, worldwide license, with right to sublicense held by Litex Inc. The remaining four patents are assigned to Litex. Additional patents are expected to be added to the portfolio in the near-term.
The claimed methods and devices provide substantial reductions of tailpipe pollutants such as unburned hydrocarbons, particulates, carbon monoxide and nitrogen oxides, as well as enhanced catalytic converter immunity to poisoning from sulfur and other contaminants.
These benefits are expected to assist the automobile industry in cost-effectively meeting the increasingly stringent emission standards such as Tier 2, LEV II and Euro IV. In addition, the Litex/Lockheed Martin technology is expected to be enabling technology for the introduction of advanced lean burn gasoline and diesel engines.
Litex, with headquarters in Sherman Oaks, Calif., was established in August 1996 to commercialize innovative technologies that demonstrate strong market potential and offer cost-effective solutions to complex industrial and consumer needs. Litex also has an office located in Cambridge, Mass. responsible for technology development and licensing. More information about Litex and non-thermal plasma technology is available at the company's Web site at www.litexcorp.com, or by phoning the company at 818/817-7600.
Lockheed Martin, with headquarters in Bethesda, Md., is a global enterprise principally engaged in the research, design, development, manufacturing and integration of advanced-technology products and services. Lockheed Martin's core businesses are system integration, space, aeronautics and technology services.