- Mineral processing tech company Zeotech (ZEO) has been transferred a key intellectual property assignment from its development partner, the University of Queensland
- Exact details of the intellectual property have not been disclosed, however, Zeotech says it relates to technology used to manufacture zeolites, which can be used in lieu of more dangerous chemicals
- The transfer was officially ratified last month, after ZEO satisfied a number of requirements under an exclusive global licence agreement
- Zeotech says having the ability to produce high-value zeolites presents a compelling economic advantage and could drive industry partnerships
- ZEO shares are up a healthy 4.82 per cent following the news, trading at 8.7 cents each
Mineral processing tech company Zeotech (ZEO) has been transferred a key intellectual property assignment from its development partner, the University of Queensland.
The intellectual property relates to a patent-pending mineral processing technology for the synthetic manufacture of zeolites, developed in partnership with the university.
The transfer of ownership for the Licensed IP (intellectual property) has been assigned by the university's technology transfer company, UniQuest.
It comes after Zeotech satisfied a number of binding terms under the exclusive global licence agreement, allowing the company to request the transfer in early December 2020.
On January 29, 2021, Zeotech and UniQuest executed the Deed of Assignment that formed part of the Licence Agreement and the $500,000 assignment fee has been paid, granting Zeotech full legal ownership of the IP.
Zeotech describes the transfer of ownership as a "major step" for the shareholders and potential commercial partners but will still need to pay royalties and performance milestone payments to UniQuest.
According to the company, the technologies possess the potential to significantly reduce the cost of manufacturing zeolites, compared to conventional production processes.
Synthetic zeolites are used in a broad range of applications, including water treatment (purification and separation), agriculture, detergent builders and cracking processes in the pharmaceutical and petroleum industries.
Zeotech says having the ability to produce high-value zeolites presents a compelling economic advantage and could drive industry partnerships.
Zeotech shares are up a healthy 4.82 per cent following the news, trading at 8.7 cents each at 3:49 pm AEDT.