PREVIOUSLY LICENSED PVDNC™ RIGHTS RETURNED TO KYMA
Kyma Technologies, Inc., a leading supplier of advanced materials solutions that promote safety and energy efficiency, announced today the formal return of its PVDNC™ technology rights that were previously licensed to GT Advanced Technologies.
Between early 2013 and mid 2014, Kyma and GT Advanced Technologies Inc. (GT) and GT's affiliates entered into three (3) formal agreements relating to Kyma's patented and proprietary Plasma Vapor Deposition of NanoColumns (PVDNC™) technology: 1) a Custom Tool Fabrication/Purchase Agreement, dated and effective as of March 11, 2013, 2) a License Agreement, dated and effective as of February 7, 2014, and 3) a Process Engineering and Support Services Agreement, dated and effective as of July 1, 2014.
Those 3 agreements set the stage to accelerate the rate of insertion of Kyma's patented and proprietary PVDNC™ technology into the market. However, on October 6, 2014 GT and its affiliated debtors as debtors in possession commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. Since that time GT and Kyma have been working on the best approach to move forward.
The companies agreed on September 11, 2015 to a Stipulation agreement and a Tool Sale and Royalty Agreement with the net effect of returning to Kyma the full PCDNC™ technology rights that were previously licensed by Kyma to GT while providing GT with a certain level of participation in potential downstream revenues as Kyma moves forward into the market. On October 15, 2015 the US Bankruptcy Court for the District of New Hampshire ruled in favor of the Stipulation agreement and a Tool Sale and Royalty Agreement, thereby returning the licensed technology rights back to Kyma.
Kyma CEO Keith Evans commented, "Our experience from working very closely with GT was exciting and shed a lot of light on the potential for Kyma's patented and proprietary PVDNC™ technology to provide a number of manufacturing advantages to the UV and visible LED markets and to the markets for RF and power electronics. While GT's move last fall into Chapter 11 had a chilling effect on our progress in this space, that was only temporary, and today we are pleased to again be in control of how best to move forward. We are examining a number of accelerated paths to the market and are available to discuss partnership scenarios with interested parties."
For More Information about Kyma's PVDNC™ Products and Technology
For more information on Kyma's PVDNC™ materials, tools, and service products, email sales@kymatech.com.
To discuss a possible partnership with Kyma in PVDNC™ technology, email info@kymatech.com.
For More Information about the Kyma - GT Agreements
See https://www.kccllc.net/gtat/document/list/3940 and enter "Kyma" into the search window.
About Kyma Technologies
Kyma’s mission is to provide advanced materials solutions that promote safety and energy efficiency. Kyma’s products include a diverse portfolio of crystalline nitride semiconductor materials, crystal growth and fabrication equipment, and power switching electronics. Additionally, the company recently launched a novel electromagnetic field sensor product and the materials and tools for fabricating crystalline 2D MoS2 monolayer films.
For more information about Kyma Technologies, visit www.kymatech.com, e-mail info@kymatech.com, or call the company directly at 919.789.8880.
Kyma is a registered trademark of Kyma Technologies, Inc.