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- Parkway Minerals (PWN) is purchasing intellectual property for a number of water and wastewater processing innovations from Victoria University
- Over the past few years, the parties have been working together on a number of innovations, including the recent aMES pilot plant
- The purchase includes the intellectual property and commercialisation rights for those innovations
- Additionally, Parkway and the university will expand its collaboration by developing a Framework of Cooperation, which outlines a range of arrangements
- This includes the commissioning, optimisation and operation of the aMES pilot plan
- On the market this afternoon, Parkway is up 11.1 per cent, trading for one cent per share
Parkway Minerals (PWN) is purchasing intellectual property for a number of water and wastewater processing innovations from Victoria University (VU).
The parties have been working together since 2015, more recently with the aMES pilot plant. Over those years, innovations have been developed for the energy, mining and municipal water and wastewater treatment sectors.
The purchase includes the intellectual property, jointly developed intellectual property, patented intellectual property and commercialisation rights.
Notably, to avoid any legal issues, the purchased innovations include any remaining interest the university holds in the aMES technology.
To pay for the intellectual property, Parkway will give VU four million shares, subject to shareholder approval, and undertake a research plan. Under the plan, Parkway will pay no less than $500,000 for research and development services.
Additionally, Parkway and VU will be expanding its collaboration by developing a Framework of Cooperation, which outlines a range of arrangements.
The arrangements include mutual exclusivities for certain research and development activities and all aMES equipment owned by the company. The parties have also agreed to jointly commission, enhance and operate the aMES pilot plant.
Managing Director, Bahay Ozcakmak, says the relationship with VU allows the parties to develop solutions to combat the difficult wastewater processing challenges.
“We are excited to be further broadening the breadth and depth of our relationship with Victoria University, particularly at this critical time, as we transition to the pre-commissioning phase of our new state-of-the-art aMES pilot plant and other key commercialisation milestones,” he said.
“In this regard, further deepening our relationship with Victoria University is a key part of our commercialisation strategy, as it provides us with important capabilities and reinforces our business development activities,” he added.
On the market this afternoon, Parkway is up 11.1 per cent, trading for one cent per share at 12:06 pm AEDT.
