Insider Brief
- Delta Gold will fund up to $2,991,426 over three years — including $997,142 in the first year — to support Penn State research expanding gold-based quantum technologies and generating new intellectual property.
- In exchange, Delta will receive an exclusive, sublicensable, royalty-bearing license to resulting IP in all fields except Human Health, and will pay Penn State a 1% running royalty on Net Sales after cumulative sales exceed $20 million.
- The research will be led by Kenneth L. Knappenberger Jr., Head of Chemistry at Penn State, a specialist in optical, electronic, and spin properties of nanomaterials and recipient of multiple national research awards.
- Photo by Pierre Bamin on Unsplash
PRESS RELEASE — Delta Gold Technologies PLC (“Delta” or the “Company”) (Aquis: DGQ / OTC: DGQTF), a technology company developing intellectual property in the quantum computing (“QC”) sector, is pleased to announce a Research Sponsorship and exclusive Technology Licensing Agreement (“TLA”) with Penn State University in Pennsylvania, USA (“Penn State”).
Penn State’s recent published work includes structures and methods for quantum computing using gold, which aligns closely with Delta’s research at the University of Toronto.
This agreement forms part of Delta’s long-term strategy to build a global centre of excellence and a world-class portfolio in quantum materials research across leading universities.
Commercial Terms:
Delta Gold will sponsor a first year research programme estimated to be up to USD $997,142 which will be paid to Penn State on a cost reimbursement basis. The research will extend existing work on gold-based quantum technologies with the aim of generating valuable intellectual property. The total cost reimbursable contract is for up to USD $2,991,426 over three years.
In return for funding the programme, Delta will receive from Penn State an exclusive, sublicensable, royalty-bearing licence to any resulting intellectual property (“IP”), permitting the Company to make, have made, use, import, offer for sale, and sell products in all fields except Human Health (the “Licence”). Delta will pay Penn State a running royalty of one percent (1%) on Net Sales of licensed products once cumulative Net Sales exceed USD $20,000,000.
The Parties will collaborate in good faith on the enforcement or defence of IP rights in any legal proceedings. The contract can be terminated by either party on 60 day notice.
R. Michael Jones, Chief Executive Officer of Delta, commented: “We are very excited to work with Penn State, a top American University with extraordinary abilities in materials science and engineering. Amazingly, independently they were investigating the properties of nano scale gold and other materials for quantum computing at the same time as our work that is on-going at University of Toronto with similar materials. Signing an agreement with Penn State adds to our portfolio of potential IP and is a direct execution step of our mission to establish a “Centre of Excellence” in Quantum Computing Research. The opportunity for top universities to collaborate is extremely exciting in the developing field.”
