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Evercel Licenses Technology to Korean Company
Evercel Inc. of Hingham, Massachusetts, has granted
an exclusive, worldwide license for its rechargeable
nickel-zinc battery technology to CM Partner of
Kyungkido, Korea. Under the terms of the 20-year
license agreement, CM Partner will conduct all
development, manufacturing, marketing and sales
of Evercel batteries for all potential applications
and in all geographies.
The agreement calls for Evercel to receive a fixed
sum for the technology rights, to be paid out
of future sales, plus ongoing royalty payments
for the duration of the license agreement. Financial
terms were not disclosed.
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