Ocean Sun and Inseanergy have settled patent dispute
The parties have now reached a settlement agreement, following which the parties have entered into a licence agreement on commercial terms. The agreement concerns the patent in dispute as well as other related patents and patent applications, and is not limited to Norway, but covers all jurisdictions where the patents are in force or applied for. Inseanergy thus acknowledges Ocean Sun’s patent rights, while the agreement also ensures Inseanergy full freedom to operate. As part of the agreement Inseanergy withdraws the notice of opposition to the European Patent Office.
Ocean Sun and Inseanergy are pleased to have resolved this matter with a positive result for both parties and look forward to continuing their respective efforts to promote floating solar power.