"The green channel patent system adopted by the UK Intellectual Property Office has, from the start, been central to our company patent strategy, allowing us to obtain patents on our innovative green technology within a year of initial conception. This has been of significant importance both in attracting investment and allowing us to demonstrate our leading edge electric vehicle technology to potential customers."
So said Chris Harrison, IP Manager for Protean Electric Ltd, in a piece for the UK IPO's 'IP Insight' newsletter in June 2011.
The company has now announced that it is to receive $84 million in new funding from GSR Ventures, New Times Group, Oak Investment Partners and the city of Liyang, Jiangsu Province, China. According to the press release, "This capital will be used to bring Protean's breakthrough electric drive technology to production by establishing manufacturing facilities in Liyang. … We will have the capability to directly supply our motors at lower volume levels, while providing licenses to our higher volume customers and partners."
The press release also notes that "Protean has been awarded 21 patents for its unique technology and design, and more than 70 additional patent applications have been filed internationally and with specific countries in North America, Europe and Asia."
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