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Smoltek has the intention to sign a global exclusive license and services agreement for discrete and embedded capacitors with YAGEO Group. This would grant YAGEO a global, exclusive right to manufacture and sell capacitor products based on Smoltek's patent protected technology platform for ultra-thin carbon nanofiber capacitors (CNF-MIM).
Smoltek Semi and KEMET ElecÂtronÂics CorÂpoÂraÂtion, a subÂsidiary of YAGEO Group intends to sign an agreeÂment that would grant YAGEO Group excluÂsive right to manÂuÂfacÂture and sell disÂcrete and embedÂded capacÂiÂtor prodÂucts based on Smoltek’s patent proÂtectÂed techÂnolÂoÂgy platÂform for ultra-thin carÂbon nanofiber capacÂiÂtors (CNF-MIM). Under the intendÂed terms of the AgreeÂment, Smoltek Semi would receive a royÂalÂty on indusÂtry marÂket terms based on prodÂuct sales, and Smoltek Semi would receive fees from KEMET for proÂvidÂing speÂcifÂic techÂniÂcal supÂport serÂvices to KEMET for its conÂtriÂbuÂtion to the conÂtinÂued joint comÂmerÂcialÂizaÂtion of CNF-MIM-based products.
DurÂing negoÂtiÂaÂtions on the terms of the next step in the colÂlabÂoÂraÂtion, Smoltek and YAGEO have idenÂtiÂfied disÂtinct benÂeÂfits of havÂing YAGEO marÂket and comÂmerÂcialÂize difÂferÂent capacÂiÂtor prodÂucts through its already estabÂlished orgaÂniÂzaÂtion. This would facilÂiÂtate a faster and more cost-effecÂtive way to bring CNF-MIM capacÂiÂtors to marÂket comÂpared to the addiÂtionÂal planÂning and investÂments needÂed to form a new Joint VenÂture entiÂty, as was preÂviÂousÂly planned by the parties.
FurÂtherÂmore, such an arrangeÂment would allow YAGEO to more effiÂcientÂly alloÂcate resources to the colÂlabÂoÂraÂtion with Smoltek as approÂpriÂate, includÂing ongoÂing payÂment to Smoltek for speÂcifÂic techÂniÂcal work carÂried out durÂing the conÂtinÂued joint comÂmerÂcialÂizaÂtion and indusÂtriÂalÂizaÂtion process, thus facilÂiÂtatÂing a faster road to marÂket for CNF-MIM based products.
I am proud of the excepÂtionÂal work carÂried out by Smoltek and YAGEO durÂing our colÂlabÂoÂraÂtion up until this point, which has put us in a posiÂtion where we are eager to douÂble down on our efforts to bring a famÂiÂly of ultra-thin disÂcrete capacÂiÂtor prodÂucts based on our CNF-MIM techÂnolÂoÂgy to the marÂket. EnterÂing into a license and serÂvice agreeÂment with YAGEO makes perÂfect sense for Smoltek, as it will enable a smooth and rapid tranÂsiÂtion into the next phase of the colÂlabÂoÂraÂtion, with each parÂty being able to bring full comÂmitÂment and resources to the table.
HÃ¥kan PersÂson, CEO of Smoltek
In the light of the above, the parÂties are now in negoÂtiÂaÂtions to enter into a globÂal excluÂsive license and serÂvices agreeÂment for disÂcrete and embedÂded capacÂiÂtors. This agreeÂment would grant YAGEO an excluÂsive globÂal right to manÂuÂfacÂture and sell CNF-MIM capacÂiÂtors, while also allowÂing for Smoltek to receive payÂment for speÂcifÂic techÂniÂcal supÂport services.
Although the detailed comÂmerÂcial terms of this agreeÂment still is under negoÂtiÂaÂtion, the parÂties have agreed on the folÂlowÂing strucÂture and outÂlined terms of this agreement:
Both Smoltek and YAGEO believe that the adjustÂed strucÂture of its future colÂlabÂoÂraÂtion, to be finalÂly agreed upon durÂing the first quarÂter of 2024.
With excelÂlent progress achieved so far in our colÂlabÂoÂraÂtion with Smoltek Semi, comÂbined with strong interÂest from potenÂtial cusÂtomers, I am excitÂed that we are planÂning a future with CNF-MIM techÂnolÂoÂgy based disÂcrete and embedÂded capacÂiÂtor prodÂucts proÂduced excluÂsiveÂly by YAGEO. I am cerÂtain that such prodÂucts will become an excelÂlent addiÂtion to our prodÂuct portÂfoÂlio in the comÂing years.
Philip LessÂner, ExecÂuÂtive Vice PresÂiÂdent of YAGEO
DisÂclaimer: Although the parÂties are curÂrentÂly conÂductÂing the negoÂtiÂaÂtions regardÂing the AgreeÂment in good faith and with good hope of finalÂizÂing the AgreeÂment, the above inforÂmaÂtion shall not in any way be seen as a guarÂanÂtee regardÂing the outÂcome and conÂcluÂsions of the upcomÂing final negoÂtiÂaÂtion phase of the AgreeÂment or a guarÂanÂtee that the AgreeÂment will be entered into by the parÂties or that YEAGEO will make any investÂments in either Smoltek Semi or Smoltek.
Top image feaÂtures Farzan GhaÂvaniÂni, CTO at Smoltek and Philip LessÂner, EVP of YAGEO.
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