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Axion International Expands IP Portfolio with Two New Patents
6 years, 1 month ago Posted in: Industry News 2

Two New Rutgers University Patents to Provide Axion’s Licensed Technology with Extended Intellectual Property Protection

NEW PROVIDENCE, N.J.–(BUSINESS WIRE)–Axion International (OTCBB: AXIH), a leading producer of industrial building products and railroad ties made from 100% recycled plastic, announced that two new patents have been awarded that will both expand the reach and extend the life of Axion’s intellectual property portfolio. The patents apply to both structural shapes as well as the coating of objects with its recently announced fire retardant formulation.

Axion

Axion's RSC Test Bridge with Locomotive. Photo courtesy of www.igsfederal.com/

Specifically, the first patent relates to certain structural shapes, such as I-beams and T-beams, using Axion’s Recycled Structural Composites (RSC) and designed from 100% recycled plastic. The benefit of these shapes is that they provide an advantage over some traditional building materials by reducing weight and improving performance, thus making Axion extremely cost-competitive both with regard to upfront and lifecycle costs. The second patent relates to the coating of certain objects with Axion’s unique fire retardant application. This patent specifically relates to the coating of objects, whereas Axion’s previously announced fire retardant patent in March relates to the formulation itself. The coating can be used on Axion’s existing line of 100% recycled plastic railroad ties and structural building products, in addition to other applications.

The two patents were awarded by the U.S. Patent and Trademark Office to Rutgers University in May 2011. Through existing licensing agreements with Rutgers, Axion is authorized to sell and sub-license its various technologies across certain geographic regions.

Steve Silverman, Axion’s President and Chief Executive Officer, stated, “We are pleased to announce yet another series of patents to Axion’s growing intellectual property portfolio. These patents not only expand the applications and uses of our materials, they also extend the amount of time our various technologies will be protected going forward. Axion’s goal is to build a comprehensive domestic and international IP portfolio around our core technologies, and fortunately our longstanding relationship with Rutgers allows us to do just that.”

Each of these patents was awarded based on work done by a research team led by Thomas Nosker, Ph.D., at Rutgers University’s Materials Sciences and Engineering Department. Mr. Nosker was recently recognized along with five of his peers as one of the nation’s top Mechanical Engineers by Inventors Digest magazine.

“Intellectual property is at the heart of the relationship between Axion and Rutgers,” said Thomas Nosker, Ph.D. “Both the structural material applications and flame-retardant coatings have many advantages over existing technologies. The structural building materials benefit from various advanced shapes that are simply not easily attainable with traditional building materials such as wood. This is combined with the fact that they are, stronger, longer lasting and made from 100% recycled plastic. Likewise, for the fire retardant application, the team at Rutgers developed a formulation that can be sprayed onto most any hard surface using standard equipment, which is a major improvement over existing fire-retardant products. There are literally hundreds of applications that could benefit from each of these technologies, and our goal is to protect them so Axion can effectively monetize their various uses in markets around the globe.”

About Axion International

Axion International is a leading structural solution provider of cost-effective alternative infrastructure and building products. The Company’s “green” proprietary technologies allow for the development and manufacture of innovative structural products made from 100% recycled consumer and industrial plastics. Axion’s up-cycled products are an economic and sustainable alternative to traditional building materials such as wood, steel or concrete. Developed in collaboration with scientists at Rutgers University, Axion’s patented technologies allow for products that are extremely strong, durable, flexible in design, and low maintenance.

For additional information, please visit Axion’s corporate website: www.axionintl.com

Forward-Looking Statements

This release contains “forward-looking statements” for purposes of the Securities and Exchange Commission’s “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Axion’s actual results to differ materially from those currently anticipated, including the risk factors identified in Axion’s filings with the Securities and Exchange Commission.

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2 Responses

  1. […] Axion International Expands IP Portfolio with Two New Patents (compositology.com) 06/15/2011 […]

  2. […] Axion International Expands IP Portfolio with Two New Patents (compositology.com) 06/15/2011 […]

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