I was just wondering around the internet looking for something to cheer me up after the exhausting battle over this past week and I stumbled onto this
Certainly did the trick for me
Apr 19th 2016 LWP Technologies Ltd expands global patent position LWP Technologies Ltd (ASX:LWP) has lodged PCT (Patent Cooperation Treaty) patent protection following recent positive test results for its proprietary fly-ash proppant, an oil and gas technology. Fly-ash proppant is used on hydraulic fracturing in oil and gas exploration and well development works. Proppants are a sand-like commodity used to 'prop' open factures in rocks allowing oil and gas to flow. Proppants are often the single largest cost item in the fracking process and represent a multi-billion dollar global market annually. The lodged PCT patent protection is in 14 key regions and jurisdictions globally including Australia, United States, Europe and China. Broader global patent protection underpins current negotiations and provides additional commercial opportunities following positive test results. Siegfried Konig, chairman, commented: "Following the excellent test results we recently achieved at our Brisbane pilot plant, we have now lodged PCT Patent Protection for our proppants in a number of key jurisdictions across the globe. "This will not only serve to protect our intellectual property, but will also strengthen LWP's ability to leverage this through the licensing and offtake agreements that we are currently negotiating, and provide further opportunities to do so. "As recently communicated to shareholders, the company is advancing a number of commercial agreements with various parties, with negotiations at different stages. We are also witnessing an increase in enquiry levels since our test results have become public, which is pleasing. "The board and management of LWP are confident that with our technology now validated and patent protected, and with sufficient funding in place to pursue our commercialisation strategy, the company is well placed to achieve its objectives." Next steps Testing of fly-ash proppants in the Brisbane pilot plant has already demonstrated a number of superior characteristics when compared to products typically used in the fast-growing fracking industry. LWP is currently pursuing multiple commercial negotiations with potential licensees, off-take and joint venture partners related to its proprietary fly-ash proppant. A commercial agreement will be a key value driver for LWP and advancing these negotiations is the main priority. The typical process for securing a potential partner can take up to 24 months. LWP is at different stages of the process with a number of parties.
