Magēmā Technology LLC and Rigby Refining LLC Settle Dispute with Wood Group USA

HOUSTON,May 15,2023 -- Magēmā Technology LLC and Rigby Refining LLC announce: "Magēmā and Rigby Refining have entered into a settlement agreement with Wood Group USA to resolve the claims asserted in Rigby Refining,LLC and Magēmā Technology LLC v. Wood Group USA,Inc. v. Marea Energy Partners,LLC,Cause No. 2021-13334 and the related arbitration between the parties. The settlement does not grant Wood any rights to the Magēmā-owned patent portfolio related to the production of low sulfur residual marine fuel oils or to any other intellectual property owned by Magēmā and Rigby Refining. All other settlement terms are confidential."

About Rigby Refining LLC

Rigby Refining® is the provider of the award-winning,proprietary and patented Rigby Process® to produce environmentally compliant ISO 8217-2017 Residual marine fuels that comply with the IMO 2020 global mandate to lower emissions from shipping. Rigby is the exclusive provider of Magēmā's HSFO to VLSFO or ULSFO hydroprocessing technologies. Contact information can be found at: www.rigbyllc.com.

About Magēmā Technology LLC

Magēmā Technology has an extensive global patent portfolio based on its ongoing research efforts and develops technical solutions for the environmental and energy transition challenges facing the global refining and petrochemical industries.

Contact:

Rigby Refining LLC

contact@rigbyllc.com