CompactGTL business plans unaffected
Monday, September 22nd, 2014
CompactGTL (‘the Company’) notes that the UK High Court has today handed down a judgment regarding activities at its UK Wilton Pilot Plant and Training Facility. The Court found that certain activities previously carried out at the Company’s pilot system at Wilton had infringed claims of two patents licensed to Velocys Inc by the Battelle Memorial Institute. CompactGTL intends to appeal the judgment.
This ruling will not impact CompactGTL’s current business, as the activities found to infringe are no longer being carried out by the Company.
CompactGTL, the pioneering gas-to-liquids company, signed a breakthrough memorandum with the Ministry of Oil and Gas of the Republic of Kazakhstan for development of the world’s first small scale GTL plant in March 2014. This was followed by the recent announcement that it had concluded arrangements for substantial investment in the business, totalling US$50 million, which will assist the Company in taking forward the project in Kazakhstan.