Tel Aviv, Israel, Nov. 21, 2024 (GLOBE NEWSWIRE) -- 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 Efraty
Adi and Michal PR- IR
Investor Relations
michal@efraty.com
