James Stephen and Francis Newton of BDO LLP, the joint administrators of Aquamarine Power, have appointed Metis Partners to support the marketing and sale of the Aquamarine Power’s intellectual property (IP) assets.
Glasgow-based intellectual property specialist firm Metis Partners stated that Aquamarine Power spent around £90 million on developing and advancing its technology, and has built a considerable IP asset portfolio including extensive designs.
The IP assets for sale include extensive granted patents and patent applications, design rights portfolio including a registered design, registered trade marks, goodwill in the brand and reputation, and organizational knowledge.
“Anyone who acquires these unique IP assets has the opportunity to capitalise substantially on a technology which will only become more critical as the years go by. We expect the sale to be of interest to companies active in the renewable energy, oil and gas, energy efficiency, engineering and desalination sectors as well as to patent aggregators,” Nat Baldwin , Head of Corporate Recovery at Metis Partners was quoted as saying by the Scotsman, a Scottish daily.
The deadline for offers has been set on January 21, 2016.
To remind, Aquamarine Power went into administration in October this year, which was followed by the liquidation a month later after the joint administrators failed to find the buyer for the company.