DynaEnergetics Successfully Defends Itself in Patent Infringement Case
DynaEnergetics, a business of DMC Global (Nasdaq: BOOM), announced a legal victory in a patent infringement case regarding Patent No. 9,810,035. The U.S. District Court jury ruled that DynaEnergetics’ DS MicroSet® setting tool did not infringe on the patent held by Repeat Precision, LLC, resulting in no damages awarded. President Ian Grieves expressed appreciation for the jury’s decision, highlighting the uniqueness of their product. The DS MicroSet tool, used in horizontal oil and gas wells, is part of DynaEnergetics’ system that enhances well productivity and safety. This verdict reinforces DynaEnergetics’ commitment to innovation in the energy sector.
- Successful defense against patent infringement lawsuit, eliminating potential legal and financial liabilities.
- The jury's decision validates the uniqueness of the DS MicroSet® product, enhancing the company's competitive position.
- Reinforces DynaEnergetics' commitment to innovation in the energy industry, which could attract future investments.
- None.
BROOMFIELD, Colo., April 05, 2023 (GLOBE NEWSWIRE) -- DynaEnergetics, a business of DMC Global Inc. (Nasdaq: BOOM) today announced it has successfully defended itself in an alleged infringement of Patent No. 9,810,035 (“035 patent”). The case was brought by Repeat Precision, LLC, which alleged DynaEnergetics’ DS MicroSet® setting tool infringed upon the 035 patent. In a trial held in the U.S. District Court for the Western District of Texas, the jury found DynaEnergetics’ product did not infringe on the 035 patent, and no damages were awarded.
“We are encouraged by the jury’s decision and appreciate their consideration of the facts in this case,” said Ian Grieves, president of DynaEnergetics. “Innovation is at the core of DynaEnergetics’ success, and the verdict confirms our MicroSet product is indeed unique.”
The disposable DS MicroSet setting tool is deployed in horizontal oil and gas wells and is used to set a plug at the end of a perforating string. DS MicroSet is a seamless extension of DynaEnergetics’ DS perforating systems and is enabled by DynaEnergetics’ IS2 Intrinsically Safe™ initiating system.
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 is an owner and operator of innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions. DMC’s businesses have established leadership positions in their respective markets and consist 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. DMC’s businesses are led by experienced, strategically focused management teams, which are supported with business resources and capital allocation expertise to advance their operating strategies and generate the greatest returns. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit: HTTPS://WWW.DMCGLOBAL.COM/.
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
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