Fort Pierce, Florida (Monday, March 27, 2006): A settlement has been reached in the question of the patent, marketing and licensing rights to SeaDwarfâ?¢ Seashore Paspalum, the golf and sports turf industry’s premium environmentally friendly and salt-tolerant turfgrass.
In a joint statement, Environmental Turf Inc., based in Fort Pierce, Florida, and SFR Holding Company Inc., based in Colorado, announced today that the two companies have reached an agreement as to the patent, marketing and licensing rights to SeaDwarfâ?¢. The agreement seeks to clear up any confusion that might have existed in the marketplace. The agreement is significant in that SeaDwarfâ?¢ has become the go-to grass for warm-season golf courses and sports fields world-wide.
The dispute over the patent, marketing and licensing rights to SeaDwarfâ?¢ arose from a dispute among the original developers of SeaDwarfâ?¢ as to whom had the authority to license the grass and sell the right to SeaDwarfâ?¢ to a third party. SeaDwarfâ?¢ was developed by Stewart T. Bennett, Michael Depew and Paul Tillman. In the early days of SeaDwarf’s development, Bennett, as president of the original company, granted a master domestic license and master worldwide license to Environmental Turf, while Depew and Tillman, as majority shareholders and the majority of the Board of Directors, sold SeaDwarf’s patent and trademark to a precursor of SFR Holdings. Subsequently, a dispute arose among the stakeholders as to which company had the patent, marketing and licensing rights to SeaDwarfâ?¢.
The terms of the agreement, in summary, are as follows:
â?¢ SFR Holdings holds the trademark and the exclusive patent on SeaDwarfâ?¢ with Environmental Turf Inc. having all rights to the trademark and patent as the Master Licensor. SFR retains the rights to sublicense, propagate, distribute, market and sell SeaDwarfâ?¢ in Mexico. SFR is currently developing a network of licensed SeaDwarfâ?¢ sod producers in Mexico.
â?¢ Environmental Turf Inc. holds the exclusive patent rights and marketing rights as Master Licensor to sublicense sod growers to propagate, distribute, market and sell SeaDwarfâ?¢ both domestically and internationally. This means that Environmental Turf is the central source and marketing company for SeaDwarfâ?¢ in the U.S. and worldwide, with SFR acting as the licensing agent for growers in Mexico in cooperation with Environmental Turf. The status of all sod producers currently licensed in the U.S. and internationally by Environmental Turf remains unchanged. Going forward, Environmental Turf will support SFR and all SeaDwarfâ?¢ producers in Mexico. Environmental Turf licensees may sell/import SeaDwarfâ?¢ into any country.
"We look forward to working with SFR in a relationship that will not only benefit both of our companies, but most importantly, all of our customers," said Wiley McCall, CEO of Environmental Turf. "This settlement puts to rest any questions in the marketplace as to whom has the rights to market and license SeaDwarfâ?¢. Our customers can rest assured that their investments are secure and that they’ve purchased the highest-quality Seashore Paspalum grass out there from certified, approved sources."
SFR Holdings principal Pat Butler agreed.
"We are eager to work together with Environmental Turf as proponents of SeaDwarfâ?¢, the most sought-after Seashore Paspalum turfgrass available on the market," Butler said.
SeaDwarfâ?¢ Seashore Paspalum is a fine textured, warm-season turfgrass suitable for use from tee-to-green on golf courses and on sports fields. SeaDwarfâ?¢ Seashore Paspalum is the only true dwarf of all of the paspalums, delivering faster green speeds and a tighter knit than other paspalum cultivars. It can be mowed from about 1/10th-inch up to about 4-inches. It offers a bright green color, natural striping and excellent salt tolerance.
What makes the grass so especially attractive to many in the golf and sport turf industries is its environmentally friendly nature. SeaDwarfâ?¢ Seashore Paspalum takes up to 50% less water for irrigation and up to 75% less nitrogen for fertilization than bermudagrass, can be irrigated with nearly any quality water source and salt may be used as an herbicide on the grass. In addition, studies have shown SeaDwarfâ?¢ to heal twice as fast as bermudagrass from divots and sports-related wear.
Because of the player-friendly qualities of SeaDwarfâ?¢, (golf balls tend to sit up in the fairway making for easier shots), it is endorsed for use on golf courses from tee-to-green by Mike Calbot, internationally known golf instructor and trick shot artist. The grass has been used by some of the golf world’s biggest names in designing their golf courses. PGA Tour Players such as Raymond Floyd and Greg Norman opened courses recently that were grassed 100-percent with SeaDwarfâ?¢ Seashore Pasplaum from tee-to-green.
A sampling of the high-profile courses grassed with SeaDwarfâ?¢ Seashore Paspalum include:
â?¢ Blue Tip at The Ritz-Carlton, Grand Cayman
â?¢ Lost Key, Perdido Key, Florida
â?¢ The Colony Golf & Country Club, Bonita Springs, Florida
â?¢ Plantation Preserve, Plantation, Florida
â?¢ Jacaranda Golf Club, Plantation, Florida
â?¢ Fairbanks Ranch, Rancho Santa Fe, California
â?¢ Fox Hollow Golf Club, New Port Richie, Florida
â?¢ Vista Mar, Republic of Panama
â?¢ Playa Mujeres, Cancun, Mexico
â?¢ Old Palm Golf Club, Palm Beach Gardens, Florida
â?¢ Tuscany Reserve, Naples, Florida
â?¢ Hammock Bay Golf and Country Club, Naples, Florida
â?¢ Parkland Golf and Country Club, near Boca Raton, Florida
· Campo de Golf Las Caras de Mexico, San Felipe, Mexico
· Las Palomas, Puerto Penasco, Sonora, Mexico
For more information on SeaDwarfâ?¢ Seashore Paspalum, in the United States or Internationally, with the exception of Mexico, call 772-460-5575 or www.environmentalturf.com . For more information on SeaDwarfâ?¢ in Mexico, contact: Pat Butler at 303-748-4752.
Contact:
Stacie Zinn
Cell: 239-398-4224
stacie@environmentalturf.com
