Source: portfolio.hu 30 August 2023 10:50 am 2023.

According to the provisions of the contract, GeoAkku Kft. is entitled to the exclusive use of the invention in Hungary for an indefinite period of time against payment of a fee. The contract cannot be terminated for a period of one year after its entry into force.

On the basis of the licence agreement, GeoAkku Kft. has the rights necessary for the performance of the strategic cooperation framework agreement with MVM Energetika Zrt. With the strategic cooperation framework agreement, the parties have identified the possibilities for cooperation, which does not constitute a commitment to implement it. The parties intend to define the detailed arrangements for cooperation in individual agreements.

As soon as the necessary conditions are in place, GeoAkku Ltd. will start investigating the industrial feasibility of the invention.