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Ford acquires hybrid-electric patents from Paice

BALTIMORE - Paice, a pioneer in hybrid electric vehicle technology, has reached an agreement to license all of its hybrid vehicle technology to Ford Motor Company. Ford ranks second in U.S. hybrid car sales, having invested billions of dollars in its electrified vehicle offerings.

Paice has now licensed its hybrid vehicle technology portfolio to the most significant hybrid automakers in the world who collectively account for more than 80 percent of all hybrid vehicle sales in the United States.

"We're pleased that Ford licensed Paice's technology. From Paice's viewpoint, this further validates our conviction that this technology, protected by many patents around the world, is technically important and economically valuable. We will continue to pursue licensing agreements with other major automakers to ensure that every automaker has a chance to access this ground-breaking technology," said Frances Keenan, chairman of the Paice Board of Directors.

The resolution with Ford brings an end to years of litigation in a multitude of forums, including federal district and appellate court, the U.S. International Trade Commission (ITC), and the U.S. Patent and Trademark Office.

Terms of the licensing agreement are confidential.

The importance of Paice's hybrid vehicle technology has been well documented over the years. Paice testified before the U.S. Congress on hybrid electric vehicle issues and an independent analysis determined that Paice owns the most dominant hybrid vehicle patent in the world. Federal juries twice concluded that Paice's patented technology is embodied in modern-day hybrids.

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