Tel Aviv District Court Overrules Ramot's Lawsuit Against StoreDot Over License Agreement

Tel Aviv District Court overruled the lawsuit filed a year ago by Ramot, Tel Aviv University's technology transfer company, while ruling that Ramot must pay StoreDot's expenses.

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StoreDot

Aug 24, 2016, 08:27 ET

HERZLIYA, Israel, August 24, 2016 /PRNewswire/ --

StoreDot, (http://www.store-dot.com/) the nanotechnology materials pioneer known for its super-fast battery charging technology, is announcing today that the Tel Aviv District Court has decided in favor of StoerDot to dismiss the lawsuit filed by Ramot with prejudice.

In its suit, Ramot claimed that StoreDot had breached its License Agreement with Ramot and that StoreDot's innovative technology stems from research done at Tel Aviv University. Ramot also claimed that StoreDot's groundbreaking Intellectual Property (IP) is related to Service Inventions created by TAU researchers.

Tel Aviv District Court has appointed two experts, respected professors in their fields, in order to evaluate Ramot's claims and StoreDot's technology. The experts had unambiguously reached the conclusion that Ramot had presented baseless claims.

In light of the expert's opinion, Ramot retracted from its claim against StoreDot following the court's recommendation to do so. Therefore, the court overruled the suit with prejudice.

"We are very pleased with court's ruling, but we're not surprised," said Dr. Doron Myersdorf, CEO and Co-Founder at StoreDot. "I'm sure that Ramot, like other shareholders in the company, will continue to benefit from being StoreDot's pioneering partners, and from our patented technological breakthroughs such as the FlashBattery™ designed for both smartphone and electric vehicles."

About StoreDot:

StoreDot Ltd. is an innovation leader in materials and device applications, developing ground-breaking technologies based on a unique methodology for the design, synthesis, and manufacturing of organic compounds. Designed to replace known technologies by means of enhanced chemical, electrical, and optical properties, StoreDot's proprietary technology, inspired by nature, can be optimized for multiple industries including fast-charging batteries in mobile devices, electric vehicles and for next generation LCD displays.

Alona Stein | PR Supervisor | Blonde 2.0 | +972-507782344

SOURCE StoreDot