Fact-checking the claims made by Ake Paulson, the managing director of Ecorub AB
For some time now I have been reading highly questionable claims made by Ake
Paulsson, the managing director of Ecorub AB. The claims, made in media and on
the internet, are about the company and the patent owned by the company.
Ecorub AB is a small public company company based in Pitea, Sweden. Ecorub
shares are listed on AktieTorget.
I am going to analyze the statements from the Investment Memorandum of the
company and co-relate to the documents in public domain I have found on the
internet. Al sources and links to them wil bi placed at the bottom of each page.
As I do not have access to insider information my conclusions can be wrong
because of the lack of information. I hope that this writing wil encourage the
readers to find more sources of information and to draw their own conclusions
from these facts.
I do hope that you wil enjoy the reading
Investment Memorandum of Ecorub AB
The investment memorandum was published by Ecorub AB before the
introduction of the company on the stock market.
The stock market introduction was done by Sedermera Fondkommission AB
The original of the investment memorandum is stored here:
Investment Memorandum of Ecorub AB
Ecorub shares are listed on the Swedish trading platform AktieTorget
AktieTorget is a small stock market focused on emerging, entrepreneurial
AktieTorget published 04 June 2010 the decision to accept Ecorub AB to trade
shares. The decision signed by Ronny Westman (the person in charge of stock
market introduction at the AktieTorget).
Here is the link to this news
On the page 6 of the Investment memorandum is the fol owing text (Google
translation from Swedish to English):"Ecological Rubber"Ake Paulsson, entrepreneur, also Managing Director of EcoRub, has since the 1990s worked on developing methods for producing high quality products based on rubber powder produced from discarded tires. In 2006 EcoRub granted a European patent (EPO 1127918) for a technology to bind the rubber powder with copolymers and create a thermo-elastic rubber. The patent is wholly owned by the Company.This is not the truth!
The truth is that Ake Paulsson have bought the right to commercialize the patent.
The patent (page 1) clearly states that the inventor is: Edgar A. Gonzalez (owner
and the CEO of Synesis www.ecoflexrtpv.com) while Rerub AB (now known as
Ecorub AB www.ecorub.se ) is proprietor. So the patent is issued to the inventor
Edgar A. Gonzalez not to Ecorub AB.
Link to the patent: Polyolefin blends containing ground vulcanized rubber
Also here http://v.yey.nu/249fadf1bb.pdf
WHO IS THE INVENTOR?
Edgar A. Gonzales filed a request for assignment of the patent from him to Rerub
AB (now Ecorub AB www.ecorub.se ). As a part of this request he attached a
contract of sale. Here is the link to the request for assignment containing the
contract of sale signed by Ake Paulsson as buyer and Edgar A. Gonzales as
Edgar A. Gonzales (owner and the CEO of Synesis www.ecoflexrtpv.com) also
patented the same invention in USA. US patent 6, 031,009 Polyolefin blends
containing ground vulcanized rubber (see the next slide). The aforementioned US
patent can be reached here as a whole:
Al documents regarding this patent are in public domain and can be retrieved at
Further on the page 6 of the Investment memorandum is the fol owing text (Google
translation from Swedish to English):EcoRub is, according to knowledge of the Board of Directors, the only company in Europe that has a commercially viable method that al ows the rubber powder as raw material to produce a material that is competitively priced and feature-wise - "Ecological Rubber". This material in turn can easily be reused.This is not the truth!
There are several (in fact a whole bunch of) companies in USA and Europe
producing similar materials. Here are the links to the companies sel ing on the
http://www.rbrubber.com http://www.rubberplastics.com http://www.enviroext.com/
The following Swedish companies are dealing with exact the same kind of materials
as Ecorub AB or have very similar technology:
http://cefibra.com/ http://www.polyplank.se/ http://www.woodfiber.se/
Further on the page 6 of the Investment memorandum is the following text
(Google translation from Swedish to English):"Proof of concept"Ake Paulsson has engaged in the development work that led to the patented technology along with an American inventor. As the initial development work was completed and the patent would be sought decided Ake Paulsson and the U.S. developer to divide the rights geographically.EcoRub sought and obtained patents in Europe and the American inventor's company, Ecotech Inc., sought and was granted patents in the U.S. and
Canada.This is not the truth!
In the request for grant of a European patent, the only person mentioned as
inventor is Edgar A. Gonzales not Ake Paulsson. You can see that the
document (request for grant of a European patent) is signed by inventor, Edgar
A. Gonzales in 24 of February 2000.
See the next slide.