Crown Electrokinetics assessed the value of the intangible assets


Los Angeles, California, April 4, 2022 (GLOBE NEWSWIRE) — Crown Electrokinetics Corp. (NASDAQ: RCDR) (“Crown” or the “Company”), a leading smart glass technology company, today announced that the Company has received a report from a third-party intellectual property assessment company “IP Professional”) providing an assessment of Crown’s intellectual property (IP) and trade secrets underlying Crown’s technology.

Crown’s electrokinetic film technology can be applied to several product categories, including applications in the commercial building, residential and transportation sectors. This IP assessment, however, specifically analyzed Crown’s technology as deployed in the US office market only. If Crown were to assess its IP value in other product categories or other geographic markets, Crown’s IP value would still be over $94.4 million.

In April 2015, Hewlett Packard sold certain assets which became the basis for the creation of Crown Electrokinetics, including its initial intellectual property. The Company continued to grow its patent and trade secret assets, inventing and developing technologies and processes and, in some cases, acquiring IP on the open market.

Intellectual property assets that have been valued include Crown patents, associated trade secrets and know-how. The valuation conclusions in the private report are based on accepted practices using standards of factual analysis, intellectual property analysis, fair market value (FMV) and investment value (IV). The third-party review company used data provided by Crown, as well as public information and industry knowledge of intellectual property licensing. Additionally, the IP professional has considered historical costs as well as expected future revenues with respect to the assets.

Crown’s IP valuation indicated a combined fair market value (FMV) of the patents and trade secrets of $94.4 million. Rolling out Crown’s DynamicTint™ to multiple customers will be a critical step in achieving the company’s goals for intellectual property adoption.

Crown CEO Doug Croxall said, “The third-party intellectual property valuation report reaffirms to our shareholders the substantial value of the company’s underlying assets and intellectual property rights. Our business opportunity is built on data volumes and should provide commercial viability for financial parties to advance. All Crown employees are eager to realize the value of our intellectual property and to continue to innovate additional intellectual property that will continue to create value for shareholders. »

About Crown Electrokinetics

Crown is a smart glass technology company and the creator of DynamicTint™ We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to change from clear to dark in seconds. With applications on a wide range of windows, including commercial buildings, automotive sunroofs, and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. At the heart of our technology is a thin film powered by an electrically charged pigment that not only replaces common window tints, but is also a more durable alternative to traditional window treatments. With its unique ability to adapt to existing glass, DynamicTint™ offers a myriad of carbon-reducing benefits. The company is backed by a strong patent portfolio.

Safe Harbor Statement: The statements contained in this press release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or other statements regarding our future business or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results could and do differ materially from what is expressed or anticipated in the forward-looking statements due to numerous factors. All forward-looking statements speak only as of the date of this press release, and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.
This press release does not constitute a public offer to sell securities. Any privately offered securities will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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