BASF receives LES Award in the U.S.A.

Cooperation with University of Alabama awarded

15-Sep-2006

BASF and the University of Alabama (UoA) have been jointly awarded the renowned LES (Licensing Executive Society) 2006 Deals of Distinction Award for the Chemical, Energy and Materials Industry Sector. UoA has granted exclusive patent licenses to BASF for the use of ionic liquids in conjunction with dissolution of cellulose. The dissolving of cellulose by ionic liquids will provide new processes that utilize cellulose and create potential for improvement, thus enhancing the long-term environmental compatibility and cutting costs of these processes.

The second annual LES Deals of Distinction Award is part of a program that aims to recognize worthy licensing deals and to foster creative and innovative solutions in deals involving cooperation contracts. Candidates are nominated by the LES Executive Committee, which is comprised of distinguished business executives, lawyers, engineers, academicians, scientists and government officials. Criteria for the awards include distinctive deals in structure or objective, with at least one party having a presence in the U.S.A. or in Canada. Last year's "Chemicals, Energy and Materials Sector Award" was granted to NASA's Glenn Research Center with GLITeC, Maverick Corp and Triton Systems Inc. as a cooperation partner.

"The licensing deal between BASF and University of Alabama at Tuscaloosa demonstrates how licensing creates new partnerships in the chemical industry to develop new "green" products and processes. LES Chemical, Energy and Materials Sector is pleased to honor BASF and the University of Alabama Tuscaloosa for their innovative collaboration in a critical area of chemical processing" said Bob Payne, Chair of the LES Chemical, Energy and Materials Sector.

Since 2005, BASF has maintained a research cooperation with the University of Alabama to study the use of ionic liquids for dissolving and processing cellulose. Under this partnership the company has licensed the exclusive use of various intellectual property rights. BASF and UoA will continue to develop this specific application for use in practice.

https://www.analytica-world.com/en/news/57940/basf-receives-les-award-in-the-u-s-a.html