Velocys plc (VLS.L) has come to a settlement with Johnson Matthey PLC (JMAT.L) in the intellectual property infringement case Velocys filed in the US against Catacel Corp ('Catacel'). Catacel was purchased by Johnson Matthey in September 2014.

In April 2010, Velocys filed a lawsuit in the US against Catacel, a supplier of catalysts to CompactGTL Limited's gas-to-liquids demonstration unit at Petrobras' facility in Aracaju, Brazil, claiming infringement of several of the Company's US patents.

Under the terms of the settlement, Johnson Matthey will pay Velocys an undisclosed amount in recognition of its intellectual property, while acknowledging the validity of Velocys' patent rights and committing to respecting them.

Tags: Velocys plc