Jul 6, 2017   SOURCE: BusinessWire

AgroFresh’s Receives Favorable Ruling in MirTech Lawsuit

AgroFresh Solutions, Inc. (NASDAQ: AGFS), a global leader in produce freshness solutions, received notice on June 30, 2017 from the United States District Court in Delaware that the Court has ruled AgroFresh to be the owner of the U.S. Patent No. 9,394,216 (the “‘216 patent”) technology, the core technology used in the product marketed as TruPickTM. This judgment resolves a key aspect of the litigation filed by AgroFresh against its former consultant, MirTech, and MirTech’s principal shareholder, Nazir Mir.

In its Opinion, the Court held that the relevant sections of the agreements between the parties were “clear and unambiguous” and that under the terms of those agreements, MirTech automatically assigned to AgroFresh the ‘216 patent technology.

“We are pleased that the Court validated AgroFresh’s claim of ownership to the ‘216 patent technology. AgroFresh remains committed to defend its intellectual property and continue investing in proprietary innovations to offer its 3,000 global customers unparalleled technology and service to improve fruit and vegetable quality and to reduce food waste,” said Jordi Ferre, AgroFresh CEO.

AgroFresh will now pursue its remaining claims in Court, including its damages claim.

About AgroFresh

AgroFresh Solutions, Inc. (NASDAQ: AGFS) is a global industry leader in providing innovative data-driven specialty solutions aimed at enabling growers and packers of fresh produce to preserve and enhance the freshness, quality and value of fresh produce and to maximize the percentage of produce supplied to the market relative to the amount of produce grown. Its flagship product is the SmartFresh™ Quality System, a freshness protection technology proven to maintain firmness, texture and appearance of fruits during storage and transport. SmartFresh is currently commercialized in over 40 countries worldwide. Additionally, the company has a number of different solutions and application technologies that have either been launched (Harvista™, RipeLock™, LandSpring™) or will be launched in the future that will extend its footprint to other crops and steps of the global produce supply chain. For more information, please visit www.agrofresh.com.

Forward-Looking Statements

In addition to historical information, this release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements and are identified with, but not limited to, words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions (or the negative versions of such words or expressions). Forward-looking statements include, without limitation, the Company’s possible or assumed future results of operations, including all statements regarding anticipated future growth, adoption of the Company’s products, business strategies, competitive position, industry environment, potential growth opportunities and the effects of regulation. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s management’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks include, without limitation, the risk of increased competition; the ability of the business to grow and manage growth profitably; changes in applicable laws or regulations, and the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors. Additional risks and uncertainties are identified and discussed in the Company’s filings with the SEC, which are available at the SEC’s website at www.sec.gov.