- Discover Energy Corporation granted global non-exclusive license
- International sales and marketing cooperation with Discover Energy Corp.
- Sub-License to Discover Energy for production and sales in North America
Zug, Switzerland, 25 March 2016 – 12:10 p.m. – iQ Power Licensing AG (ISIN: CH0268536338; WKN/Security Number: A14M1C; Symbol: IQL) a developer and marketer of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles and licenses in these technologies, reports Board of Director resolutions regarding changes to the license business.
Approval of new License and Sales Cooperation for Discover Energy Corporation
iQ Power Licensing AG (IQPLAG) announces the approval of a new license agreement as well as a sales and marketing cooperation agreement with Discover Energy Corporation (DEC). The new license agreement is a global non-exclusive agreement. The only territorial exception is South America, where only the licensee Moura Batteries can produce and sell batteries to the OEM market. It is possible for DEC and other customers of the South Korean company iQ Power Asia Inc. (IQPA), to export into North America and the South American aftermarket.
In 2013, a license was granted to the affiliated company, Discover Energy International Limited, Hong Kong. Due to the large and rapidly growing engagement of DEC in the IQPLAG technology, it was necessary to have a license agreement with the parent organization Discover Energy Corporation in Canada.
In addition to the license agreement, IQPLAG has entered into a Sales and Marketing Cooperation Agreement (SMC) with DEC. The agreement foresees a close cooperation between DEC and IQPLAG to create a harmonized and optimized aftermarket program worldwide.
DEC has committed millions of dollars to re-vitalize the South Korean company IQPA. In addition, DEC will invest large amounts money, personnel and time to develop a sales network for the IQPLAG mixing technology under the brand Mixtech. IQPLAG will benefit from the wide-ranging global business relationships of DEC. The aim of the cooperation is to position the IQPLAG mixing technology as a premium brand in all major markets worldwide.
Sub-License granted by iQ Power Asia Inc., Korea, to Discover Energy Corporation
The Board of Directors has resolved to allow a sub-license to be granted by iQ Power Asia to Discover Energy Incorporated. Under the terms of the iQ Power Asia License Agreement, sub-licenses can be granted outside their territory. The sub-license paves the way for Discover Energy to use American battery manufacturers to supplement the production of the Korean factory.
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. Electrolyte mixing is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery ensures uniform acid density for higher sustained performance throughout the entire life of the battery. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010.