IH2 Technology definition

IH2 Technology means certain Integrated Hydropyrolysis and Hydroconversion (IH2) technology, which converts biomass directly into cellulosic gasoline and diesel hydrocarbon blendstocks and is protected by various patents, and such term includes catalyst useful therein, including without limit catalyst properties, compositions and performance. “PA Affiliate” shall mean PetroAlgae, Inc. and any company (other than PA) which is from time to time directly or indirectly controlled by PetroAlgae, Inc.; wherein an entity controls another entity if the first entity owns fifty percent or more of the ownership interest of, or the voting or contractual rights in, the other entity, whether directly or indirectly, through one or more intermediaries or otherwise, and whether by ownership of shares or other equity interests, the holding of voting rights or contractual rights, by being the general partner of a limited partnership, or otherwise.
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Examples of IH2 Technology in a sentence

  • The capital cost of such demonstration facilities will be paid by PA customers; however, CRICC will undertake to minimize the license fee for, and costs associated with provision of the process design package of, the IH2 Technology in order to encourage the aforementioned suitable PA customer to build such demonstration facility.

  • The Parties will include in the marketing agreement appropriate structures of licensing or sublicensing the IH2 Technology to licensees of the PA System.

  • For the avoidance of doubt, the Parties agree there will be only one facility to demonstrate the combined capability of the PA System and the IH2 Technology and, thereafter, all other facilities shall be considered commercial facilities.

  • To the extent that these efforts produce a commercially viable technology which the Parties wish to license or sell to third parties, PA and CRICC will establish a cooperative marketing agreement through which the IH2 Technology for use with systems to grow harvest and process lemna as a protein source and source and source for biocrude will, for a term of five (5) years (subject to agreed sales goals), be exclusively offered by CRICC to PA and licensees of the PA System for use with the PA System.

  • The Parties are interested in cooperating to (i) optimize conversion of lemna biocrude to hydrocarbon products through the use of the IH2 process; (ii) establish Specifications, and (iii) use the IH2 Technology with the PA System to convert lemna biocrude to transportation fuels for certification purposes.

  • PA will use commercially reasonable efforts to identify a suitable PA customer and PA and CRICC will seek to enter into a license agreement with the PA customer to permit such customer to construct and operate the IH2 Technology in conjunction with such PA customer’s PA System with the intent that PA and CRICC will be able to use the modified system to demonstrate the combined capability of the PA System and the IH2 Technology.

  • The Parties will identify any further development and refinement to the PA System or IH2 Technology necessary to achieve the mutual objectives.

  • CRICC shall have the exclusive right to file any and all patent applications related to the IH2 Technology and CRICC Improvements and shall have exclusive ownership in any patents granted as a result of any such applications, including any renewals, divisions, reissues, continuations, or extensions thereof.

  • The Parties further agrees that, when disclosing information regarding products derived from lemna biocrude using the IH2 Technology, they will only disclose non-confidential information regarding quality (e.g., the ability to meet specifications for US gasoline and diesel).