The settlement concerns the German designation of the following European patents:
- EP 0 735 984 B1
- EP 0 605 274 B1
- EP 0 863 846 B1
- EP 0 955 267 B1
- EP 1 527 018 B1
- EP 2 007 682 B1
- EP 2 523 907 B1
- EP 1 435 338 B1
- EP 3 009 403 B1 (the Estonian designation is also included)
Under the terms of the agreement, Neo will make a total cash payment of €7.1 million, payable to Rhodia in the first quarter of 2026. All parties have agreed to a mutual release of claims and withdrawal of outstanding legal proceedings relating to these patents.
All patents covered by the settlement, with the exception of EP ‘682, have expired. Furthermore, the settlement amount does not differ materially from the amount that Neo previously accrued in its annual accounts. As a result, Neo does not expect the settlement to curtail ongoing sales of the company’s current autocatalyst products or materially impact revenues.
About Neo Performance materials
Neo produces the building blocks of many modern technologies that improve efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products are cutting-edge technologies for the net-zero transition. Neo’s activities are organized around three segments: Magnequench, Chemicals & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices Greenwood Village, Colorado, United States; Singapore; And Beijing, China. Neo has a global platform with production facilities China, Germany, Canada, Estonia, Thailand and the United Kingdomas well as a dedicated research and development center in Singapore. For more information please visit www.neomaterials.com.
Cautionary Statements Regarding Forward-Looking Statements
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as ‘plans’, ‘expects’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘predicts’, ‘intends’, ‘anticipates’ or ‘believes’ or their negative connotations or variations of such words and phrases, or states that certain actions, events or results ‘may’, ‘might’, ‘could’, ‘may’ or ‘will be taken’, ‘prevent’. or “to be achieved” or its negative connotation. Specific forward-looking statements in this press release include, but are not limited to, the production capacity of the new plant, the launch of new project pricing, operating expectations resulting from such project pricing, revenue expectations and other matters relating thereto. In making the forward-looking information in this press release, the company has applied certain factors and assumptions that are based on its current beliefs, as well as assumptions made by and information currently available to the company. Although the Company believes these assumptions to be reasonable based on information currently available, they may prove to be incorrect, and the forward-looking information contained in this press release is subject to numerous risks, uncertainties and other factors that could cause future results to differ materially from those expressed or implied by such forward-looking information. There are many risk factors associated with the launch and operation of the new project platform. A number of factors could cause actual results to differ materially from those anticipated by the Company, including, but not limited to, the risks and uncertainties inherent in the nature of the business, including the risks of a material adverse change in the Company’s assets or revenues, or risks of unknown liabilities that may arise.
Readers are cautioned not to place undue reliance on forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. For more information about Neo, investors should review Neo’s ongoing disclosure filings, available under Neo’s profile at www.sedarplus.ca.
Website: www.neomaterials.com
SOURCE Neo Performance Materials, Inc.
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