Aquamarine IP assets up for sale

Glasgow-based intellectual property outfit Metis Partners has been appointed by wave developer Aquamarine Power’s administrators BDO to handle to the sale of its IP assets.

Metis said Aquamarine spent £90m on the development of its patent-protected Oyster device.

The company said Aquamarine’s assets for sale include an international patent portfolio, an extensive design portfolio, goodwill in the Aquamarine Power brand and reputation and organisational knowledge including test data.

Assets also include technical specifications and thorough operational guides, registered trademarks with international coverage, branded domain names and website content.

Metis Partners head of corporate recovery Nat Baldwin 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 deadline for offers is noon on Thursday 21 January. All offers and requests for more information should be submitted by email directly to Morven Fraser at morven@metispartners.com or Nat Baldwin at nat@metispartners.com.

Aquamarine went into administration in October and went into liquidation last month with an inability to attract further private finance playing a key role in its troubles.

Image: Oyster 800 wave energy converter (Aquamarine Power)