Velocys (LON:VLS), the gas to liquids specialist, said it had settled its US patent infringement case with FTSE 100 catalytic converter maker Johnson Matthey (LON:JMAT), which is making a payment of an undisclosed sum of cash as part of the deal.
The suit was originally brought against Catacel, which Johnson Matthey bought last year.
It revolved around the former’s supply of catalysts to CompactGTL Limited's gas-to-liquids demonstration unit at Petrobras's facility in Aracaju, Brazil.
The settlement followed successful litigation against Compact here in the UK.
“Velocys has a very substantial patent portfolio comprising more than 800 patents, covering a broad range of countries, which protects key inventions relevant to smaller scale gas-to-liquids processing,” the firm said.
“The company also holds a significant inventory of trade-secrets which it has gained through years of development and practice.
“Moreover, Velocys actively ensures it maintains strict freedom to operate for its own business.”