EL CAJON, Calif., May 11, 2016 /PRNewswire/ -- Phyre Technologies, Inc. (Phyre) announces that they have entered into an exclusive aerospace industry licensing agreement with Parker Aerospace for Phyre's groundbreaking GOBIGGS™ fuel tank inerting system.
"After a decade of development, we are honored that Parker Aerospace, a world leader in inerting technologies has validated the value proposition of our GOBIGGS technology by its commitment to bring our technology to the marketplace," said Santosh Limaye, Phyre's Chairman.
Phyre's Green On-Board Inert Gas Generating System (GOBIGGS™) is a closed-loop, environmentally friendly inerting system for flammable environments, designed to significantly improve fuel tank survivability. GOBIGGS™ is the next generation of fuel tank inerting systems that are smaller, lighter, more energy efficient and environmentally friendly when compared to existing technologies.
Serving as legal counsel to Phyre, to assist in monetizing Phyre's cutting-edge, potentially life-saving intellectual property, Kilpatrick Townsend's Kandace Watson, a partner based in the firm's San Diego office, led Phyre's licensing deal, and Steve Reiter, counsel in Kilpatrick Townsend's San Diego office, led Phyre's patent prosecution strategy. "We look forward to feeling safer with the expectation that future airplanes will be equipped with this new technology," said Kandace Watson. "It is an honor to partner with Phyre, Stuart Robertson, its CEO and his phenomenal, innovative team."
Serving as investment bankers to Phyre, Alderman & Company® has provided strategic and financial advice to Phyre in regard to the company's development since 2009. Stuart Robertson, Chief Executive Officer of Phyre commented, "Alderman & Company has been part of the development and growth of Phyre for 7 years and through their outstanding strategic and financial advice they helped make possible the successful license of GOBIGGS™ to Parker."
About Phyre Technologies
Phyre Technologies, Inc. is a privately held company based in El Cajon, CA. Phyre specializes in advanced research and development in aerospace and defense fluid systems. In addition to GOBIGGS™, Phyre develops, designs, and manufactures other advanced systems, including Phyre's PADS technology, which can be used for the removal of dissolved Oxygen from various liquids including, fuels, for improved thermal stability, water for invasive species management and ballast water treatment. More about Phyre can be found on www.phyre.net.
About Kilpatrick Townsend
Founded over 150 years ago, Kilpatrick Townsend is a leading international AmLaw 100 firm with nearly 650 attorneys in 18 offices extending into the four corners of the continental United States; Asia; and Europe, including: Atlanta, GA; Augusta, GA; Charlotte, NC; Dallas, TX; Denver, CO; Los Angeles, CA; Menlo Park, CA; New York, NY; Raleigh, NC; San Diego, CA; San Francisco, CA; Seattle, WA; Walnut Creek, CA; Washington, DC; Winston-Salem, NC; Shanghai; Stockholm; and Tokyo. For more information, please visit: www.kilpatricktownsend.com.
About Alderman & Company
Founded in 2001, Alderman & Company® provides strategic and financial advice to companies, and their shareholders, lenders, and other stakeholders, in the middle-market of the aerospace and defense industry. Alderman operates through three affiliated companies: Alderman & Company Advisors, LLC (registered investment advisor), Alderman & Company Capital, LLC (broker-dealer), and Alderman & Company Consulting, LLC (management consulting). All securities transactions are made through Alderman & Company Capital, LLC, a member of FINRA and SIPC and registered with the United States Securities and Exchange Commission. More about Alderman & Company® can be found on www.aldermanco.com.
For additional information, please contact:
Phyre Technologies, Inc.
1950 Cordell Court, Suite 104
El Cajon, California 92020
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SOURCE Phyre Technologies, Inc.