Exhibit 99
[ZOLTEK LOGO]
FOR IMMEDIATE RELEASE
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ZOLTEK COMMENTS ON FAVORABLE RULING IN
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CARBON FIBERS PATENT LITIGATION
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ST. LOUIS, MISSOURI -- JANUARY 29, 2009 -- Zoltek Companies, Inc.
(Nasdaq: ZOLT) today reported on developments in long-running patent
litigation filed in the U. S. Court of Federal Claims by its Zoltek
Corporation subsidiary against the U.S. Government. The Court recently granted
Zoltek's motion for leave to amend its complaint to assert certain claims
against U.S. Government contractor, Lockheed Martin Corporation, with respect
to the F-22 Fighter Plane, and to transfer that portion of the lawsuit to the
Federal District Court in Atlanta. The transfer results from an earlier ruling
of the U.S. Court of Appeals holding that the government was not liable to
Zoltek for patent infringement relating the F-22. Consequently, Zoltek will
amend its complaint and continue to prosecute patent claims against Lockheed
in Federal District Court in Atlanta. The Claims Court's order to transfer the
F-22 Fighter portion of the case is the first time that a court has permitted
a patent holder to sue a U.S. Government contractor for patent infringement
for work performed at the direction of the U.S. Government.
In the litigation, which has been pending for almost 13 years, Zoltek
alleges the U. S. Government infringed Zoltek's patent rights by incorporating
carbon fibers manufactured by a process covered by Zoltek's patent into
certain stealth aircraft, specifically including the B-2 Bomber and the F-22.
In earlier rulings, the government prevailed on its defense that, under
applicable patent law, it was not liable for patent infringement by virtue of
the fact that certain manufacturing steps were performed outside the United
States.
In its opinion, the Court of Federal Claims stated, "Contrary to the
government's assertion that no court has jurisdiction over Zoltek's claim,
this Court is of the opinion that Zoltek is entitled, as should be all
plaintiffs, to have its day in court."
Zsolt Rumy, Zoltek's Chairman and CEO, commented, "We are pleased
that the Court of Federal Claims ruled in our favor and cleared the way for
continued prosecution of this lawsuit to vindicate our patent rights. Despite
several setbacks that have caused this litigation to drag on for many years,
we are as committed as ever to obtaining fair compensation for our proprietary
carbon fiber technology utilized in these aircraft. Nonetheless, it appears
that any recovery must await further proceedings and this case will not
provide us any short-term financial benefit."
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Zoltek Comments On Favorable Ruling In Carbon Fibers Patent Litigation
Page 2
January 29, 2009
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FOR FURTHER INFORMATION CONTACT:
ZSOLT RUMY, CEO
3101 MCKELVEY ROAD
ST. LOUIS, MO 63044
(314) 291-5110
This press release contains certain statements that constitute
"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. The words "expect," "believe," "goal," "plan,"
"intend," "estimate," and similar expressions and variations thereof are
intended to specifically identify forward-looking statements. Those statements
include statements regarding the intent, belief or current expectations of us,
our directors and officers with respect to, among other things: (1) our
financial prospects; (2) our growth strategy and operating strategy, including
our focus on facilitating acceleration of the introduction and development of
mass market applications for carbon fibers; (3) our current and expected
future revenue; and (4) our ability to complete financing arrangements that
are adequate to fund current operations and our long-term strategy.
This press release also contains statements that are based on the
current expectations of our company. You are cautioned that any such
forward-looking statements are not guarantees of future performance and
involve risks and uncertainties, and that actual results may differ materially
from those projected in the forward-looking statements as a result of various
factors. The factors that might cause such differences include, among others,
our ability to: (1) penetrate existing, identified and emerging markets,
including entering into new supply agreements with large volume customers; (2)
continue to improve efficiency at our manufacturing facilities on a timely and
cost-effective basis to meet current order levels of carbon fibers; (3)
successfully add new planned capacity for the production of carbon fiber and
precursor raw materials and meet our obligations under long-term supply
agreements; (4) maintain profitable operations; (5) increase our borrowing at
acceptable costs; (6) manage changes in customers' forecasted requirements for
our products; (7) continue investing in application and market development in
a range of industries; (8) manufacture low-cost carbon fibers and profitably
market them despite increases in raw material and energy costs; (9)
successfully operate our Mexican facility to produce acrylic fiber precursor
and add carbon fiber production lines; (10) resolve the pending non-public,
fact-finding investigation being conducted by the Securities and Exchange
Commission; (11) successfully continue operations at our Hungarian facility if
natural gas supply disruptions persist; (12) successfully prosecute patent
litigation; and (13) manage the risks identified under "Risk Factors" below
and in our filings with the SEC. Because forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot be
predicted or quantified, you should not rely upon forward-looking statements
as predictions of future events. The events and circumstances reflected in the
forward-looking statements may not be achieved or occur and actual results
could differ materially from those projected in the forward-looking
statements.