DMC Global Comments on DynaEnergetics Litigation
DMC Global Inc. (Nasdaq: BOOM) announced that a jury in Texas ruled that Hunting Titan, Inc. and Hunting Energy Services, Inc. did not infringe on DynaEnergetics' U.S. Patent No. 10,429,161 but upheld the patent's validity. DynaEnergetics expressed disappointment in the ruling but acknowledged the patent's significance in well perforating technology. CEO Ian Grieves emphasized their commitment to technological innovation and IP protection. DynaEnergetics is evaluating its appellate options while maintaining a leadership role in the global perforating industry.
- The jury upheld the validity of U.S. Patent No. 10,429,161, affirming DynaEnergetics' intellectual property.
- DynaEnergetics is recognized for its technological innovation in the global perforating industry.
- The ruling indicated no infringement occurred, which may limit potential revenue from licensing the patent.
BROOMFIELD, Colo., Jan. 18, 2023 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today announced a jury in the US District Court for the Southern District of Texas (Houston) found that Hunting Titan, Inc. and Hunting Energy Services, Inc. did not infringe DynaEnergetics’ U.S. Patent No. 10,429,161 ("the ‘161 Patent"). However, the jury upheld the validity of the ‘161 Patent.
DynaEnergetics is reviewing the ruling and is considering all of its appellate options. While disappointed with the ruling, management is pleased the jury agreed the patent is valid, recognizing that the intellectual property associated with DynaEnergetics’ DynaStage system represents a significant advancement in well perforating technology.
“We have established a leadership position in the global perforating industry based on technological innovation, and we will remain focused on building and expanding our product and intellectual property portfolios,” said Ian Grieves, president of DynaEnergetics. “We also intend to take a vigilant and judicious approach to protecting our IP going forward.”
About DynaEnergetics
DynaEnergetics, a business of DMC Global Inc., provides innovative perforating systems that make a measurable impact on well productivity, completion cost and safety. As the only global perforating manufacturer that designs, manufactures and qualifies all of its equipment and accessories in-house, DynaEnergetics ensures unmatched performance and the lowest total cost of operations. For more information, visit www.dynaenergetics.com.
About DMC Global Inc.
DMC Global operates three differentiated, asset-light manufacturing businesses that serve niche segments of the building products, energy, and industrial infrastructure industries. DMC supports its companies with long-term capital and strategic, financial, legal, technology and operating resources, enabling them to grow their core businesses, launch new initiatives, upgrade technologies and systems, and make acquisitions that improve their competitive positions and expand their markets. The DMC family of companies consists of Arcadia, a leading supplier of architectural building products; DynaEnergetics, which serves the global energy industry; and NobelClad, which addresses the global industrial infrastructure and transportation sectors. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit WWW.DMCGLOBAL.COM.
Safe Harbor Language
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding intellectual property and litigation matters. Such statements and information are based on numerous assumptions regarding factors including present and future business strategies, the markets in which we operate, anticipated costs and ability to achieve goals. Forward-looking information and statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results and performance to be materially different from those expressed or implied by such forward-looking information and statements, including but not limited to the risks detailed from time to time in our SEC reports, including the annual report on Form 10-K for the year ended December 31, 2021, all of which are incorporated by reference herein. We do not undertake any obligation to release public revisions to any forward-looking statement, including, without limitation, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
CONTACT:
Ian Grieves
President
DynaEnergetics
+49.2241.1236.770
ian.grieves@dynaenergetics.com
INVESTOR CONTACT:
Geoff High
Vice President of Investor Relations
303-604-3924
MEDIA CONTACT:
Dan Gagnier or Riyaz Lalani
Gagnier Communications
646-342-8087
FAQ
What was the outcome of DMC Global's patent lawsuit?
How does the jury's ruling affect DMC Global Inc. (BOOM)?
What steps is DynaEnergetics considering after the ruling?
What significance does the upheld patent have for DMC Global?
