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News > Nanowerk Business News >
| Posted: April 9, 2007 |
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Future Of UK's Leading Nanotechnology Company Is In Doubt
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(Nanowerk News) Britain's Times runs an article today describing the patent woes of Oxonica Plc, one of the country's leading nanotechnology companies. The company is in a legal battle over one of its key products and also faces the near-collapse of its biggest contract with a national oil and gas company.
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Oxonica makes Envirox — a product designed to boost the efficiency of diesel fuel. Envirox is used in the fleet of buses operated by Stagecoach, the British national bus company.
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It has emerged that Envirox is at the centre of a legal dispute between Oxonica and Neuftec, a company based in the Dominican Republic that claims to have invented the fuel additive. Oxonica has filed a patents suit in London’s High Court to protect itself against the claims. Neuftec has said that it will fight the suit and believes that the British firm is using its technology unlawfully.
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To compound the problems with Neuftec, Oxonica also faces losing its biggest Envirox contract — a deal worth more than $12 million from Petrol Ofisi, the Turkish national oil and gas company. Oxonica signed the Ofisi deal only last year.
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