TULIP-INNOVATION

Tulip Innovation Kft. today announced the launch of a new licensing program aggregating patents related to lithium-ion battery technology from LG Energy Solution, Ltd. (LG Energy Solution) and Panasonic Energy Co., Ltd. (Panasonic Energy). Tulip’s new licensing program is based on a combined portfolio of more than 5,000 LG Energy Solution and Panasonic Energy patents from over 1,500 patent families and is available to all battery manufacturers globally. This program represents the largest aggregation of patents offered for license in the battery industry to date.

LG Energy Solution and Panasonic Energy are leaders and pioneers in lithium-ion battery technology, with a history of groundbreaking innovation spanning more than two decades and significant investments in research and development annually. These companies have successfully developed - and served as the principal contributors to - many of the most widely deployed battery technologies in the world.

Tulip’s program offers battery manufacturers a new efficient and alternative way of accessing this wide range of patented technologies from LG Energy Solution and Panasonic Energy through a single license. The patent portfolio licensed by Tulip covers a broad spectrum of materials and processes related to cathode, anode, electrolyte, separator, and electrode, as well as structures and processes related to cells, modules, and packs.

“With standardized agreements, streamlined administration, and a single point of contact, Tulip offers considerable advantages for manufacturers who are ready to obtain the IP licenses necessary to cover their lithium-ion battery operations under the LG Energy Solution and Panasonic Energy patent portfolios,” said Giustino de Sanctis, CEO of Tulip.

Tulip’s engagement as licensing administrator reflects the trust in its team of experienced patent licensing professionals shared by both LG Energy Solution and Panasonic Energy.

“The Tulip program is an excellent opportunity for companies active in lithium-ion battery manufacturing to obtain broad licenses on major technology areas that could serve as bedrocks for their businesses,” said Jay Kim, Chief Technology Officer of LG Energy Solution. “By providing a fair patent license opportunity to industry latecomers, Tulip will contribute to upholding fair and competitive market condition in the battery industry.”

“Creating a fair competitive environment through this program will foster innovation in green technology, thereby contributing to achieving a more sustainable society,” said Shoichiro Watanabe, Chief Technology Officer of Panasonic Energy. “Tulip’s unique ability to provide licensees with tailored solutions, combined with a deep understanding of the technologies and industry standards, along with simplified reporting and administrative procedures, will significantly benefit all stakeholders involved.”

For more information, please visit www.tulipinnovation.com.

About Tulip Innovation
Tulip Innovation Kft. is an independent company founded to establish and manage the lithium-ion battery licensing program. Based in Hungary, the hub of European battery manufacturing, Tulip’s mission is to collaborate with companies implementing Li-ion battery technology to ensure that their manufacturing operations have access to Tulip’s robust IP portfolio. Led by a team of licensing professionals with decades of experience, Tulip has a unique combination of strong industry connections and expertise in negotiating and administering patent licenses. Additional information is available at www.tulipinnovation.com

About LG Energy Solution
LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://news.lgensol.com.

About Panasonic Energy
Panasonic Energy Co., Ltd., established in April 2022 as part of the Panasonic Group's switch to an operating company system, provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries, storage battery systems and dry batteries, the company brings safe, reliable, and convenient power to a broad range of business areas, from mobility and social infrastructure to medical and consumer products. Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability, and through its business activities the Company aims to address societal issues while taking the lead on environmental initiatives. For more details, please visit https://www.panasonic.com/global/energy/.

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