Smart Planet Technologies Signs License Agreement with Intellectual Ventures

Newport Beach, CA and Bellevue, WA, September 13, 2013 - Smart Planet Technologies, Inc., a leader in innovative coatings that address sustainability challenges in packaging, today announced that it has entered into an intellectual property license agreement with the Invention Development Fund of Intellectual Ventures (IV®). The two companies will collaborate on sourcing, licensing, and commercializing new technologies related to sustainable packaging.

“Through our collaboration with Intellectual Ventures, we can accelerate our objective of being a leading provider of innovation in materials that address the sustainability goals for the packaging industry,” said Will Lorenzi, President of Smart Planet Technologies.  "As the leading global specialist in intellectual property development and commercialization, Intellectual Ventures will help Smart Planet Technologies broaden its IP portfolio as well as enlarge the global footprint of customers for our unique and market-changing packaging solutions."

"Smart Planet’s environmentally friendly packaging technology is the best in the business," said Chris Alliegro, Executive Vice President and Managing Director, Invention Development Fund at Intellectual Ventures. "Leading paper, packaging, food and beverage companies have now recognized the improved environmental footprint and recyclability of packaging materials that utilize the Smart Planet coating technology.  By leveraging the invention network from Intellectual Ventures, Smart Planet expands its technology portfolio as a leading solution provider for innovation for the packaging industry.  This agreement is the latest in a series of transactions Intellectual Ventures has executed with new and innovative companies, helping us bring our inventions to a variety of new industries.”

The agreement provides Smart Planet Technologies with the opportunity to license and commercialize IP and technologies from the Invention Development Fund’s portfolio of packaging related inventions and patents created with its network of more than 4,000 inventors – including individual inventors and inventors from government labs, research institutions, corporations and universities.

About Intellectual Ventures

Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV’s mission is to energize and streamline an invention economy that will drive innovation around the world. For more information, please visit www.intellectualventures.com, follow IV on Twitter at @IVinvents and “like” IV on Facebook at facebook.com/intven.

About Smart Planet Technologies

Smart Planet Technologies is a materials intellectual property company focused on sustainability for the packaging industry. Through innovation, our technologies conserve precious natural resources and provide high quality, environmental alternatives across a wide variety of packaging applications.  For more information, please visit our website at www.SmartPlanetTech.com

Contact Smart Planet Technologies:

Todd Gasparik, Smart Planet Technologies

Todd@SmartPlanetTech.com

For further information about Intellectual Ventures, contact:

For press inquiries, please contact press@intven.com. For all other inquiries, please contact info@intven.com or follow IV on Twitter at @IVinvents.