Inseanergy's floating solar technology (Courtesy of Inseanergy)

Norway-based floating solar companies Ocean Sun and Inseanergy have reached a settlement agreement for floating solar technology patents.

Ocean Sun started legal proceedings in Norway against Inseanergy in August 2022, claiming Inseanergy’s solution for floating solar power infringed upon its patent rights. Ocean Sun is the holder of exclusive patent rights to a solution for floating solar power in Norway, as well as in a number of other jurisdictions.

Inseanergy disputed the infringement claim and filed a counterclaim to revoke Ocean Sun‘s patent. The lawsuit was scheduled to be heard by Oslo District Court over four days, from March 13 to 16, 2023. In addition, Inseanergy also filed notice of opposition to the European Patent Office against the validity of Ocean Sun’s European Patent.

The parties have now reached a settlement agreement, following which the parties have entered into a license agreement on commercial terms.

The agreement concerns the patent in dispute as well as other related patents and patent applications, and is not limited to Norway, but covers all jurisdictions where the patents are in force or applied for.

According to Ocean Sun, Inseanergy therefore acknowledges Ocean Sun’s patent rights, while the agreement also ensures Inseanergy full freedom to operate.

“Ocean Sun and Inseanergy are pleased to have resolved this matter with a positive result for both parties and look forward to continuing their respective efforts to promote floating solar power,” the companies said in a statement.

As part of the agreement, Inseanergy has withdrawn the notice of opposition to the European Patent Office.