Creative legal thinking for creative fuel technology company
Thu 22 January 2009
The Vertex Law Technology team, headed by Irfan Baluch, have recently acted for Oil Drum, the environmental technology company based at the University of Kent, in advising on the licensing of its groundbreaking Save-Fuel hydrogen technology for the UK commercial vehicle market.
Oil Drum, winners of the Kent Innovation Challenge 2008 (co sponsored by Vertex Law) have granted a licence to the Queen’s Award winning Andel Group to exclusively manufacture, sell and install Oil Drum’s Save-Fuel hydrogen technology. The Save-Fuel device which was launched last year caught hauliers attention with claims of being able to reduce their diesel consumption by 10%, to reduce CO2 and to cut hydrocarbon emissions to zero.
Irfan Baluch of Vertex Law said, "This is a perfect example of how innovation, identified through the Kent Innovation Challenge Award Scheme, can be nurtured and supported to deliver a commercial solution to market. We are delighted to have provided our own brand of practical innovative legal advice to allow Oil Drum to take an idea to the all important stage of real market penetration."
Darryl Watts Oil Drum’s founder and Managing Director said, “Irfan and Vertex Law have been with us every step of the way since winning the Kent Innovation Challenge. They worked closely with us to understand the technology and to deliver a bespoke suite of legal documents which allowed us to smoothly negotiate a final commercial deal with Andel Group; we are enormously grateful to Vertex Law and would have no hesitation recommending them to any technology company.”
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