Royalty Report: Chemicals, Energy Resources & Svcs, Engines – Collection: 109069

License Grant

The Licensors, directors and principal shareholders of the Licensee, gave Licensee an exclusive license to a pending U.S. patent application.

License Property

The patents relate to the Licensees product which is DurAlt(R) FC.

DurAlt(R) FC, is a fuel additive that has been widely tested for both performance and environmental impact over the past 10 years by independent laboratories, major oil companies and major engine manufacturers. DurAlt(R) FC has been shown to enhance fuel combustion efficiency, reduce octane requirement increase ('ORI') and thereby enable engines to run properly on lower octane fuel that has been treated with DurAlt(R) FC.

Field of Use

This agreement pertains to the energy industry relating to fuel additives.

License Grant

The Licensor granted a License to the Licensee permitting the Licensee to use any technology owned by the Licensor in renewable fuels applications.

License Property

The Licensor acquired a number of patents and pending patent applications, including U.S. patent application numbered 13/057,596 and related intellectual properties involving methods and devices for increasing liquid fuel combustion efficiency by burning fuel more completely. Testing of the Technology completed to date with early-stage prototypes plugged into a gasoline engine has demonstrated an average increase in fuel economy of over 30%. At the same time, the concentration of un-burnt hydrocarbons and carbon monoxide in the combustion exhaust decreased by about 56% and 38%, respectively.

License Grant

Licensor hereby grants to Licensee a non-exclusive right and license, without the right to sublicense others except as provided herein, throughout the Licensed Territory under Licensor Technology and under Licensor Patent Rights, to make, use and sell Products in respect to Licensee's engines and engines sold under Licensee's trademarks and to practice processes in connection therewith.

The license granted shall include the sole and exclusive right to convert Licensee's engines and engines sold under Licensee's trademarks previously sold by Licensee to utilize aqueous fuel and the sole and exclusive right to manufacture, use and sell parts which can be used in the conversion of such engines and for the repair and replacement of parts thereof. The right in Licensee to convert shall include the right to sell parts or kits to accomplish such conversion and to allow Licensee's authorized dealerships to convert engines previously sold by Licensee, as aforesaid.

License Property

Licensor has the right to license Licensor Technology and Licensor Patent Rights which relate to and/or use aqueous fuel defined as comprising a mixture of water and carbonaceous material for combustion in an internal combustion engine and the use thereof.

Licensee desires to obtain and Licensor is willing to grant a worldwide license under Licensor Patent Rights and Licensor Technology upon the terms and conditions.

Licensor Technology means all proprietary and confidential Technology, owned or licensable by Licensor, now and during the continuance of this Agreement.

Licensor Patent Rights means (a) patents and pending patent applications in the Field of this Agreement, including, without limitation, patents, applications and patents issuing on patent applications listed in this agreement; (b) future patents and patent applications owned or licensable by Licensor to the extent the claims thereof cover subject matter in the Field of the Agreement and (c) any national and foreign filings, continuations, continuations-in-part, divisions, reexamination certificates, reissues or extensions thereof.

Patents and Patent Applications U.S. No. 5156114

Products shall mean articles, including engines and converted engines, in the Field of the Agreement which are produced using and/or utilize Licensor Technology and/or are covered by Licensor Patent Rights.

Field of Use

FIELD OF THE AGREEMENT means methods, processes, compositions and apparatuses for carrying out combustion for the generation of heat in internal combustion engines, including compression, spark-ignited and turbine engines, capable of using aqueous fuels and the use of aqueous fuels in such engines.