REG and Neste Oil settle patent infringement lawsuits
Renewable Energy Group, Inc. (REG) and Neste Oil Corp. have entered into a settlement and license agreement, which settles Neste’s U.S. patent infringement lawsuit against REG and REG’s Singapore patent infringement lawsuit against Neste. Additionally, REG has licensed certain Neste Oil NEXBTL technology and intellectual property rights for use at REG Geismar, an REG facility in Louisiana, U.S.A.
REG inherited the patent infringement lawsuit when it acquired Syntroleum and Dynamic Fuels in June 2014.
“Through these discussions with Neste, we discovered useful Neste intellectual property that through this license we will now be able to use to enhance operational flexibility for REG Geismar,” said Eric Bowen, REG vice president, corporate business development & legal affairs.
“We are happy that our prolonged patent disputes with respect to renewable diesel have been satisfactorily resolved through constructive discussions with another respected biofuel producer,” said Lars Peter Lindfors, senior vp, technology.
REG is a North American biofuels producer headquartered in Ames, Iowa, U.S.A. It has 10 active biorefineries across the country, of which REG Geismar is one. Neste Oil, based in Espoo, Finland, is a refining and marketing company specialising in high-quality fuels for cleaner traffic.