Ingevity Corporation (NYSE:NGVT) Q1 2024 Earnings Call Transcript

John Fortson: What percentage of your sales are covered on new patent today? Probably the best way to–

Ed Woodcock: Within North America, there’s a high level of patent protection across those, right? As it’s a Tier 3 requirement, which you’re looking to get extremely low levels and the canisters themselves with activated carbon help, but you need, in a lot of cases honeycombs. Some of those honeycombs vary on their content and efficacy. And we help the OEMs and the Tier 1s to help design the canister system that they’re looking to put our products into, right?

John Fortson: And that’s important, Chris, because most of this hybrid push is in North America today.

Ed Woodcock: Yes. With China 7 coming along…

John Fortson: Right. Eventually we’ll benefit in China, right?

Ed Woodcock: Right.

Chris Kapsch: Appreciate the color. Thanks.

Operator: We have no further questions, so I’ll hand the call back to John Nypaver for closing remarks.

John Nypaver: Thanks Adam. This concludes our call. Thank you all for your interest in Ingevity and we’ll talk with you again next quarter.

Operator: This concludes today’s call. Thank you very much for your attendance. You may now disconnect your lines.