Under the License Agreement, Sumitomo Chemical has licensed Polypore’s intellectual property related to coating separators for lithium-ion batteries. The financial terms of the Agreement include an up-front payment to Polypore as well as recurring royalties.

This agreement confirms the integrity of our intellectual property around ceramic coating of separators for lithium-ion batteries. In addition to the financial consideration of the licensing arrangement, we are pleased that this agreement establishes the opportunity for Polypore and Sumitomo to work together to address growing market needs, which we expect to benefit both companies. As interest in coated separator solutions continues to grow, we believe that the combined strength of our intellectual property, Sumitomo’s technical expertise in coating and the exceptional performance characteristics of our separator material create an attractive solution for meeting the growth needs of existing and future customers.

—Robert Toth, President and CEO of Polypore

Polypore International is a high technology filtration company specializing in microporous membranes; it operates two businesses: Energy Storage and Separations Media. Within energy storage fall Celgard, for high-performance lithium-ion battery separators; and Daramic, for battery separators for lead-acid batteries and specialty applications.