Canadian carbon capture and storage technology innovator CO2 Solutions Inc. has agreed to purchase several assets of former US-based competitor Akermin Inc., in a move described as removing “any and all ambiguity” surrounding technology ownership rights.
Missouri-based Akermin, a previous rival of CO2 Solutions in the field of enzyme-based carbon capture, has decided to cease operations and liquidate its assets.
As a result, CO2 Solutions has acquired certain resources of Akermin’s ‘intellectual property’ (IP) under the asset purchase agreement worth $400,000.
On the whole, intellectual property refers to creations of the mind, such as inventions, designs, names and images commonly used in commerce, although the specific details of CO2 Solutions’ asset acquisition remain unspecified at this stage.
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