Market Overview

Ford Licenses Hybrid Vehicle Patents from Paice, Abell Foundation

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Four out of every five hybrid-electric vehicles in the world now have
a Paice license

Paice, a pioneer in hybrid electric vehicle technology, has reached an
agreement to license all of its hybrid vehicle technology to Ford Motor
Company. Ford ranks second in U.S. hybrid car sales, having invested
billions of dollars in its electrified vehicle offerings.

Paice has now licensed its hybrid vehicle technology portfolio to the
most significant hybrid automakers in the world — Toyota, Ford,
Hyundai/Kia and others — who collectively account for more than 80% of
all hybrid vehicle sales in the United States.

"We're pleased that Ford has joined the ranks of the world's other
leading hybrid car companies in recognizing the value in Paice's
technology. We will continue to pursue licensing agreements with other
major automakers to ensure that every automaker has a chance to access
this ground-breaking technology," said Frances Keenan, chairman of the
Paice Board of Directors.

The resolution with Ford brings an end to years of litigation in a
multitude of forums, including federal district and appellate court, the
U.S. International Trade Commission (ITC), and the U.S. Patent and
Trademark Office. As part of the resolution, Paice and the Abell
Foundation, a Baltimore-based non-profit organization that invested in
Paice, will drop its request to ban Ford from importing certain hybrid
vehicles, and Ford will drop its challenges to Paice's patents. The ITC
was set to issue its initial determination on Paice's requested ban in
March 2018.

Terms of the licensing agreement are confidential.

The importance of Paice's hybrid vehicle technology has been well
documented over the years. Paice testified before the U.S. Congress on
hybrid electric vehicle issues and an independent
analysis
determined that Paice owns the most dominant hybrid vehicle
patent in the world. Federal juries twice concluded that Paice's
patented technology is embodied in modern-day hybrids.

About Paice (www.paicehybrid.com)

Dr. Alex Severinsky, a Russian immigrant, founded Paice in 1992 with the
support of the University of Maryland. Paice made its mark in the hybrid
industry by discovering new ways to maximize fuel efficiency and reduce
harmful emissions without sacrificing driving performance. Paice
presented its hybrid breakthroughs alongside Toyota and Ford at industry
conferences and before the U.S. Senate. To date, Paice has been awarded
30 U.S. and foreign patents, including four of the world's most
influential hybrid patents according to an
independent study
.

About the Abell Foundation (www.abell.org)

The Abell Foundation, a Baltimore-based charitable organization
dedicated to fighting urban poverty and promoting social objectives by
investing in progressive local start-ups, is a co-owner of the Paice
patents and a co-complainant in the ITC filing. Since 1999, Abell has
helped support Paice's efforts to develop and promote its hybrid
technology.

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