Jeffs’ Brands Enters into a Patent Licensing Agreement to Market and Sell Photovoltaic Technology on Amazon
21 Noviembre 2024 - 8:30AM
Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR,
JFBRW), a data-driven e-commerce company operating on the Amazon
Marketplace, announced today that it has entered into a patent
licensing agreement (the “Licensing Agreement”), with Xiamen Fast
Power Co., Ltd. (“Xiamen”), a Chinese company specializing in
advanced photovoltaic technology. This Licensing Agreement grants
Jeffs’ Brands the right to use the registered patent number 6345668
owned by Xiamen, which covers innovative waterproof photovoltaic
board technology, for a period of three years in exchange for
royalty payments.
The Licensing Agreement marks a significant
milestone for Jeffs’ Brands, enabling the Company to diversify its
product offerings and enhance its e-commerce portfolio on the
Amazon Marketplace. Pursuant to the agreement, Jeffs’ Brands will
receive an exclusive right to market and sell the patented
technology solely through Amazon, without geographical
restrictions, aiming to target a global customer base.
Under the terms of the Licensing Agreement,
Jeffs’ Brands will pay royalties to Xiamen on a quarterly basis,
equal to 15% of the net cash flow profit generated from sales made
using the patented technology on the Amazon Marketplace.
Viki Hakmon, Chief Executive Officer of Jeffs’
Brands, commented: "This agreement positions us at the forefront of
innovative product offerings in the renewable energy space. By
leveraging this advanced photovoltaic technology, we aim to expand
our portfolio and meet the growing global demand for sustainable
energy solutions."
The patented waterproof photovoltaic board
technology offers robust energy efficiency and durability, making
it a valuable addition to Jeffs’ Brands' e-commerce offerings. With
the increasing popularity of renewable energy products, this
collaboration is expected to create significant opportunities for
revenue growth and market expansion.
About Jeffs’ Brands
Ltd
Jeffs' Brands aims to transform the world of
e-commerce by creating and acquiring products sold on Amazon
Marketplace and turning them into market leaders, tapping into
vast, unrealized growth potential. Through the Company’s management
team’s insight into the FBA Amazon business model, it aims to use
both human capability and advanced technology to take products to
the next level. For more information on Jeffs’ Brands Ltd
visit https://jeffsbrands.com.
Forward-Looking Statement
Disclaimer
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that are intended to be covered by the “safe
harbor” created by those sections. Forward-looking statements,
which are based on certain assumptions and describe our future
plans, strategies and expectations, can generally be identified by
the use of forward-looking terms such as “believe,” “expect,”
“may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,”
“estimate,” “anticipate” or other comparable terms. For example, we
are using forward-looking statements when discussing the benefits
and advantages of the patented waterproof photovoltaic board
technology; the increasing popularity of renewable energy products;
the marketing and sale of the patented technology on the Amazon
Marketplace by us; payment of royalties to Xiamen; enhancement of
our e-commerce portfolio and diversification of our product
offerings; our position at the forefront of innovative product
offerings in the renewable energy space; our goal to further expand
our portfolio and meet the growing global demand for sustainable
energy solutions. Instead, they are based only on our current
beliefs, expectations and assumptions regarding the future of our
business, future plans and strategies, projections, anticipated
events and trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of our
control. Our actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include, among others, the
following: our ability to adapt to significant future alterations
in Amazon’s policies; our ability to sell our existing products and
grow our brands and product offerings, including by acquiring new
brands; our ability to meet our expectations regarding the revenue
growth and the demand for e-commerce; the overall global economic
environment; the impact of competition and new e-commerce
technologies; general market, political and economic conditions in
the countries in which we operate; projected capital expenditures
and liquidity; the impact of possible changes in Amazon’s policies
and terms of use; the impact of the conditions in Israel, including
the recent attacks by Hamas, Iran, and other terrorist
organizations; and the other risks and uncertainties described in
the Company’s Annual Report on Form 20-F for the year ended
December 31, 2023, filed with the U.S. Securities and Exchange
Commission (“SEC”), on April 1, 2024 and our other filings with the
SEC. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Investor Relations Contact:
Michal EfratyAdi and Michal PR- IRInvestor
Relationsmichal@efraty.com
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