Nexeon wins a decisive legal victory, with the U.S. District Court dismissing ALL of Group14 Technologies' claims

• The ruling vindicates Nexeon and reinforces its position as a leader in silicon anode technology
• Nexeon's suit against Group14 for Tortious Interference is still active and pending

Milton Park, U.K. - September 24, 2024 - Nexeon Limited, a global leader in advanced silicon anode technology for lithium-ion batteries, today announced a decisive legal victory against Group14 Technologies. In an order dated September 18, 2024, the U.S. District Court for the Western District of Washington granted summary judgment in favor of Nexeon, dismissing all of Group14's claims with prejudice, including misappropriation of trade secrets, unjust enrichment and breach of contract.

In November 2023, Nexeon filed counterclaims against Group14 alleging Tortious Interference with Business Expectancy, due to Group14 contacting Nexeon's potential customers and demanding that they not deal with Nexeon based on the meritless allegations in the original suit. That matter is pending in U.S. District Court for the Western District of Washington.

"This ruling is a complete vindication of Nexeon's conduct, our integrity, and our position as a technological leader in the battery materials space," said Scott Brown, CEO of Nexeon. "We have always operated with the highest standards of professionalism and transparency, and this decision confirms that we were on the right side of both the facts and the law."

The original case, which was completely and decisively resolved in Nexeon's favor, was filed in late 2022. After extensive review of the facts, Judge Thomas S. Zilly declared that Group14's claims were unfounded and some were also time-barred by the statute of limitations.

As Judge Zilly stated in the order granting summary judgment: "Group14 has now had three or more bites at the proverbial apple, and the Court has been more than indulgent. The Court has devoted significant time, energy, and resources to this matter, having previously issued a 27-page Order … and a 25-page Order devoted solely to the subject of whether Group14 had described its trade secrets with the ‘reasonable specificity' necessary for Nexeon to mount a defense."

The order continues: "The Court now enters this even lengthier Order, being fully satisfied that Group14 has had ample opportunity to reveal its cards, but it has failed to do so either because it wishes to continue hiding them or because the cards have no showdown value. In moving for summary judgment, Nexeon has called Group14's apparent bluff, and the moment has arrived for the Court to throw Group14's hand into the muck."

"We are pleased with the court's ruling and remain focused on advancing our cutting-edge technology," added Brown. "This outcome allows us to continue our mission of driving innovation in cell technology, free from the distraction of groundless litigation."

Nexeon remains at the forefront of silicon anode technology, backed by an industry-leading IP portfolio, with patents granted worldwide dating back to 2005. The company remains committed to its goal of transforming energy storage and helping to significantly enhance the performance of lithium-ion batteries for electric vehicles and consumer electronics.