TULSA, Okla., Sept. 5, 2013 (GLOBE NEWSWIRE) -- Syntroleum Corporation (Nasdaq:SYNM) announced today the U.S. Patent & Trademark Office Patent Trial and Appeal Board ("PTO") decision issued on September 4, 2013 instituting an inter partes review ("IPR") of all claims of Neste Oil's U.S. Patent No. 8,212,094. This decision follows Syntroleum's filing in March 2013 of its IPR petition challenging the validity of the '094 patent. The PTO found that "there is a reasonable likelihood that Syntroleum would prevail with respect to claims 1-20 of the '094 patent" based on the information presented.
Neste may file its response to Syntroleum's petition, including any motion to amend the '094 patent, by November 4, 2013. Syntroleum can then respond to Neste's submissions by January 6, 2014. Subsequently, the parties will have an opportunity to cross-examine witnesses and prepare for oral argument, now scheduled for April 1, 2014. Shortly afterward, the PTO will issue a final decision on the validity of the '094 patent claims.
Syntroleum and Neste are also parties to related district court litigation filed by Neste on December 20, 2012 involving the '094 patent, Neste Oil, Oyj v. Syntroleum Corp. et al., 12cv1744 (D. Del.). On July 2, 2013, the District Court stayed this lawsuit in view of the pending IPR petition. Likewise, an earlier lawsuit filed by Neste on May 29, 2012 involving its U.S. Patent No. 8,187,344 was stayed by the District Court based on Syntroleum's inter partes reexamination request regarding the '344 patent. To date, the PTO has rejected both the original claims of the '344 patent, as well as the amended and new claims submitted by Neste, as obvious in view of the prior art. The '344 reexamination proceedings remain pending at the PTO under Reexam Control Number 95/002,084.
Syntroleum denies Neste's infringement claims and will continue to vigorously defend against the Neste patents, and remains confident that its position will be vindicated. Syntroleum has invested substantial time and resources in its proprietary Bio-Synfining® technology and will likewise seek to defend and enforce its intellectual property rights in venues around the world.
About Syntroleum (Nasdaq:SYNM)
Syntroleum Corporation owns the Syntroleum® Process for Fischer-Tropsch (FT) conversion of synthesis gas into liquid hydrocarbons, the Synfining® Process for upgrading FT liquid hydrocarbons into refined products, the Bio-Synfining® technology for converting renewable feedstocks into drop-in fuels and a 50% interest in Dynamic Fuels, LLC, which owns a 75 million gallon per year Geismar, Louisiana renewable fuels plant using the Bio-Synfining® technology. For additional information, visit the Company's web site at www.syntroleum.com
This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as well as historical facts. These forward-looking statements include statements relating to the Fischer-Tropsch ("FT") process, Syntroleum ® Process, Synfining ® Process, and related technologies including, gas-to-liquids ("GTL"), coal-to-liquids ("CTL") and biomass-to-liquids ("BTL"), our renewable fuels Bio-Synfining ® Technology (hereinafter "Technologies"), plants based on these Technologies, anticipated cost and schedule to design, construct and operate plants, expected production of fuel, obtaining required financing for these plants and other activities, the value and markets for products, testing, certification, characteristics and use of plant products, the continued development of our Technologies, use of proceeds from our equity offerings, anticipated revenues, availability of catalyst, our support of and relationship with our licensees, and any other forward-looking statements including future growth, cash needs, capital availability, operations, business plans and financial results. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these kinds of statements involve risks and uncertainties. Actual results may not be consistent with these forward-looking statements. Syntroleum undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. Important factors that could cause actual results to differ from these forward-looking statements are described under "Item 1A. Risk Factors" and elsewhere in our 2012 Annual Report on Form 10K.
®"Syntroleum", "Synfining", and "Bio-Synfining" are registered as trademarks and service marks in the U.S. Patent and Trademark Office.
CONTACT: Ron Stinebaugh Syntroleum Corporation (281) 224-9862 www.syntroleum.com
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