Phyre Technologies announces exclusive aerospace industry licensing agreement for GOBIGGS technology

Phyre Technologies, Inc. (Phyre) has announced that it has entered into an exclusive aerospace industry licensing agreement with Parker Aerospace for Phyre's groundbreaking GOBIGGS fuel tank inerting system.

"After a decade of development, we are honored that Parker Aerospace, a world leader in inerting technologies has validated the value proposition of our GOBIGGS technology by its commitment to bring our technology to the marketplace," said Santosh Limaye, Phyre's Chairman.

Phyre's Green On-Board Inert Gas Generating System (GOBIGGS) is a closed-loop, environmentally friendly inerting system for flammable environments, designed to significantly improve fuel tank survivability. GOBIGGS is the next generation of fuel tank inerting systems that are smaller, lighter, more energy efficient and environmentally friendly when compared to existing technologies.

Serving as legal counsel to Phyre, to assist in monetizing Phyre's cutting-edge, potentially life-saving intellectual property, Kilpatrick Townsend's Kandace Watson, a partner based in the firm's San Diego office, led Phyre's licensing deal, and Steve Reiter, counsel in Kilpatrick Townsend's San Diego office, led Phyre's patent prosecution strategy. "We look forward to feeling safer with the expectation that future airplanes will be equipped with this new technology," said Kandace Watson. "It is an honor to partner with Phyre, Stuart Robertson, its CEO and his phenomenal, innovative team."

Serving as investment bankers to Phyre, Alderman & Company® has provided strategic and financial advice to Phyre in regard to the company's development since 2009. Stuart Robertson, Chief Executive Officer of Phyre commented, "Alderman & Company has been part of the development and growth of Phyre for 7 years and through their outstanding strategic and financial advice they helped make possible the successful license of GOBIGGS to Parker."