The intellectual property assets of wave energy business Aquamarine Power are on sale on behalf of the Joint Administrators at BDO LLP from Metis Partners, a commercial intellectual property consulting firm.
Founded in 2005, Aquamarine Power was set up to develop innovative wave energy technology. Aquamarine Power's proprietary technology is an offshore wave converter with a base at the European Marine Energy Centre at Billia Croo in Orkney, Scotland.
Amongst the intellectual property assets for sale, is the technology behind the internationally patent-protected Oyster device. To date, the company has spent more than £90M in the development of its technology, and has worked with Carnegie Wave Energy and Bosch Rexroth.
Nat Baldwin, Head of Corporate Recovery at Metis Partners, said: "Anyone who acquires these unique IP assets has the opportunity to capitalise substantially on a technology which will only become more critical as the years go by. We expect the sale to be of interest to companies active in the renewable energy, oil and gas, energy efficiency, engineering and desalination sectors as well as to patent aggregators."
The IP assets include: an international patent portfolio; an extensive design portfolio; goodwill in the Aquamarine Power brand and reputation; key organisational knowledge including test data, technical specifications and thorough operational guides; registered trademarks with international coverage; branded domain names and website content.
The deadline for offers is noon on Thursday 21st January 2016.