June 12, 2017
PiezoMotor Uppsala AB (publ) (“PiezoMotor” or the “company”) has received the first payment of approximately eur 1.1 MILLION in accordance with the patent cooperation agreement on 30 april 2017 was concluded with the German company Physik Instrumente (PI) GmbH & Co. KG. (“PI”).
This first payment refers to the Down-Payment, licence fees in respect of some of PiezoMotors patent for the period of april to June 2017, and development efforts for the period april to september 2017.
“The payment is the final confirmation that our cooperation with the PI has started and the work to integrate our Piezo LEGS®motors in the PI system has also been started. The PI has already placed an order for a smaller number of engines in the different variants. As a result of licensieringsaffären we will also strengthen our liquidity and I believe that our ability to reach kassaflödesneutralitet without more capitalizations hereby further increases”, says Johan Westermark, CEO of PiezoMotor.
For questions, please contact:
Johan Westermark, CEO
+46 (0)708-18 24 00
Erik Penser Bank AB, Apelbergsgatan 27, Stockholm, sweden. Telephone: +46 (0)8-463 80 00. E-mail: email@example.com.
If The PiezoMotor
PiezoMotor is a world-leading developer and manufacturer of cutting-edge mikromotorer based on piezoelectric materials. Effective, extremely precise and very small replacement engines are the traditional technology and allows for the motorization where this has previously not been possible. Engine performance includes nanometerprecis movement (1 nanometer = 1 millionth of a millimeter) and very high force in a miniatyriserat format. The engines work in a vacuum and can be made completely non-magnetic, which also opens up completely new opportunities. In Uppsala, PiezoMotor its own facility for högvolymtillverkning, research and development and corporate headquarters. All of the major geographic markets covered by an established global distribution network and many of the leading companies in medical technology, halvledarindustri, space and defence technology and optics is today the customers to the PiezoMotor. PiezoMotors shares are traded on Nasdaq First North in Stockholm. www.piezomotor.com
The information in this press release is such information that the PiezoMotor Uppsala AB (publ) is obliged to publish under the EU marknadsmissbruksförordning (EU) no 596/2014. The information was submitted pursuant to the above contact person in the government, for publication on 12 June 2017, there is a 11:00 CEST.