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This press release is an English version of the previously published Swedish version, which has interpretive precedence.
Smoltek Nanotech Holding AB ("Smoltek") announced in a press release on March 26 that the company's partner YAGEO Group ("YAGEO") chose not to proceed with the license and service agreement that both parties intended to sign. In a short interview, Smoltek's CEO Håkan Persson provides background information on why this happened, and he also talks about how Smoltek will proceed with the development of its innovative CNF-MIM technology for capacitors.
Smoltek and YAGEO have collaborated for a long time to enter into an agreement regarding the further development and commercialization of capacitors based on Smoltek's CNF-MIM technology. Both parties announced the intention to enter into a license and service agreement in a press release published on December 6, 2023 (link to the press release (https://news.cision.com/smoltek-nanotech-holding-ab/r/smoltek-announces-intention-to-sign-a-global-exclusive-license-and-services-agreement-for-discrete-a,c3889506)).
Yesterday, March 26, 2024, the company announced that YAGEO, at this time, does not intend to sign the license and service agreement with Smoltek (link to the press release (https://news.cision.com/smoltek-nanotech-holding-ab/r/smoltek-announces-that-yageo-group-has-chosen-not-to-continue-discussions-regarding-license-and-serv,c3952643)).
"YAGEO's decision not to go ahead and sign the license and service agreement that both parties intended to enter into is extremely unfortunate from our perspective, considering all the energy and the resources we have invested in this collaboration," says Smoltek's CEO Håkan Persson.
Håkan Persson continues:
"Yesterday I had intensive discussions with both the board and other interested parties. We will now gradually create a plan for how to proceed. The potential of our CNF-MIM technology for capacitors is intact, and it continues to be of great interest to YAGEO as well as to other interested parties. Now, unfortunately, YAGEO has decided to leave the collaboration with us, at least for the time being. And this means that we have to look at what other possibilities we have."
In a short video interview, Håkan Persson talks about the collaboration, the extensive resources that both parties have invested in the collaboration, and what lessons Smoltek has learned:
"We started this process together with YAGEO right after the summer of 2023. And our two companies have collaborated intensively during the autumn, which was then further intensified during the first months of this year with many activities from both parties."
"But unfortunately, based on their circumstances and priorities, YAGEO has chosen not to proceed with this contract negotiation at this time."
"It is important to highlight that we have gained valuable experiences from this collaboration. They consist of both technical achievements, regarding product development as well as industrial volume manufacturing, and an excellent plan for commercializing the technology. We can continue to build on this, regardless of YAGEO, with intact potential when it comes to being able to deliver a unique capacitor product to the market. We have thus gained a lot from this collaboration in terms of building knowhow and relevant skillsets, as well as what we need to do to carry out a commercialization. And we are still aiming to do this."
"We had a partner in YAGEO who up until very recently said they were willing to help us finance the remaining development by paying for our development work. Now we have to find another way to do this. Their surprising decision was new information for us, and I have spent most of this day trying to get a grip on the situation and start looking at how we can resolve this for the future."
Link to the interview (Youtube): https://youtu.be/qROOa3013-E