| Paice LLC Paice LLC: Paice, Abell, and Daimler Agree to License Patented Technology 29-May-2020 / 05:40 GMT/BST Paice, Abell, and Daimler Agree to License Patented Technology BALTIMORE, MD / ACCESSWIRE / May 28, 2020 / Paice and Daimler have reached an agreement to license patented hybrid technology. Paice was an early leader in electrified vehicles. The company was awarded its first hybrid vehicle patent in 1994, long before most automakers began seriously focusing on ways to improve fuel efficiency and reduce emissions. Paice's technology proved valuable and helped accelerate the growth of the hybrid vehicle industry. An independent analysis concluded that Paice owns the most dominant hybrid vehicle patents in the world. "We've reached several licensing agreements in the past two years without the need for litigation. These agreements make a lasting impact in our community by supporting the good works of the Abell Foundation," said Paice Executive Chairman Frances Keenan. During the company's early years, Severinsky worked closely with two experienced automotive veterans: Bob Templin, a Paice board member who had served as chief engineer of Cadillac and technical director of GM's Research Laboratory; and Ted Louckes, a 40-year veteran of General Motors who served as Paice's Chief Operating Officer and was instrumental in developing Paice's hybrid technology alongside Dr. Severinsky. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
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