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Azure Dynamics to sell patent portfolio under CCAA process

Produces hybrid components, powertrain systems for commercial vehicles


August 10, 2012
by CANADIAN PRESS

BURNABY, BC: Azure Dynamics Corp., which is operating under court protection from creditors, has signed a deal to sell its portfolio of patents and related rights and assets.

Terms of the agreement were not available.

The deal follows a process administered by the company under the supervision of a court-appointed monitor.

Azure develops and produces hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles.

The company abandoned a planned financing and sought court protection from its creditors under the Companies’ Creditors Arrangement Act earlier this year.

© 2012 The Canadian Press