Aspen Aerogels Inc (NYSE:ASPN) advanced Wednesday after announcing that it has won patent infringement lawsuits in a German regional court against two Chinese manufacturers.
The Mannheim Regional Court determined on March 8 that Guangdong Alison Hi-Tech Company Ltd. and Nano Tech Company Ltd sold infringing aerogel insulation products, the company said in a statement.
Shares of Aspen surged at the opning before pulling back to a more modest 2.4% increase to $3.05 in Wednesday’s New York trading.
The court issued injunctions prohibiting the offer, distribution, use or import of infringing products in Germany and held Nano and Alison liable for Aspen’s damages, court costs and some of its legal fees and expenses. The Mannheim court's decision is subject to an appeal to the Higher Regional Court of Karlsruhe.
In a related lawsuit, the Mannheim court previously issued a series of judgments against Hiltex Techniche Weefsels BV, a Dutch reseller of the infringing aerogels.
Patent valid as granted
Aspen added that the German Federal Patent Court in Munich found in a patent-nullity action initiated by Nano that Aspen’s patent was valid as granted. The Munich court's decision follows other unsuccessful challenges to the validity of Aspen's patents by Nano and Alison in the US and China.
“These decisions also serve as clear notice to all companies that intend to purchase, import use or resell infringing products that such actions are, simply put, illegal,” Aspen CEO Don Young said. “We remain firmly committed to enforcing our intellectual property and recovering all compensation available to us under the law.”
Based in Northborough, Massachusetts, the company designs, develops and manufactures aerogel insulation used mainly in energy infrastructure and building materials.
Contact Dennis Fitzgerald at [email protected]