Finland&rsquo;s Neste Oil Corp. and Ames, Iowa-based Renewable Energy Group Inc. both announced Dec. 19 that the companies have settled their patent infringement lawsuits against each other regarding renewable diesel processes. REG inherited the lawsuits when it acquired Syntroleum Corp. and the Dynamic Fuels renewable diesel plant in Geismar, La. The companies have also entered into a new agreement in which REG has licensed certain Neste Oil NEXBTL technology and intellectual property rights for use at REG Geismar. &nbsp;
&ldquo;We are happy to have reached a satisfactory resolution with&nbsp;Neste&nbsp;Oil to the U.S. patent infringement lawsuits we inherited in the acquisitions of Syntroleum and Dynamic Fuels,&rdquo; said Eric Bowen, REG vice president of corporate business develop and legal affairs. &ldquo;This agreement resolves our dispute with&nbsp;Neste&nbsp;Oil regarding the alleged infringement of&nbsp;Neste&nbsp;Oil&rsquo;s patents by REG Geismar.&nbsp;Through these discussions with&nbsp;Neste&nbsp;Oil, we discovered useful Neste&nbsp;Oil intellectual property that through this license we will now be able to use to enhance operational flexibility for REG Geismar.&rdquo;
&ldquo;We are happy that our prolonged patent dispute with respect to renewable diesel has been satisfactorily resolved through constructive discussions with another respected biofuel producer,&rdquo; said Lars Peter Lindfors, Neste Oil&rsquo;s senior vice president of technology.
The companies state that this settlement &ldquo;reflects the parties&rsquo; conclusion that continued pursuit of the U.S. and Singapore patent infringement lawsuits was counterproductive and the parties&rsquo; desire for a mutually agreeable resolution.&rdquo; The companies add that they look forward to working together to grow and expand the renewable fuels and chemicals marketplace globally, and that the settlement is not an admission by either party as to the validity or infringement by one party of the other party&rsquo;s patents.&nbsp;
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Finland's Neste Oil and Iowa-based Renewable Energy Group both announced Dec. 19 that the companies have settled their patent infringement lawsuits against each other regarding renewable diesel processes and have entered into a new license agreement.

REG, Neste settle patent lawsuits, enter into license agreement

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