DUG Technology Ltd (ASX: DUG), a company that combines scientific expertise with sustainable computing innovation, has announced the settlement of legal proceedings initiated by a supplier against its subsidiary, DownUnder GeoSolutions (America) LLC (DUG US). The dispute, which involved a contested supplier invoice under an energy management services agreement, was previously disclosed in an ASX announcement on 25 February 2026, noting a court judgment ordering DUG US to pay approximately US$2.1 million. The case was held in the United States District Court for the Southern District of Texas.
Following the court’s final judgment, DUG US has entered into a settlement and release agreement with the supplier to resolve all claims related to the dispute. Under the terms of the agreement, DUG US will pay the supplier a total of US$1.5 million. This amount represents a full, final, and complete settlement of all claims, including the counterclaim by DUG US, inclusive of costs.
The agreement also stipulates that both parties will refrain from pursuing any further legal action regarding the matters of the dispute. It is explicitly stated that the settlement does not constitute an admission of liability by either party. Upon payment of the settlement sum, the supplier is required to file a release of judgment with the Court.
The remaining details of the settlement and release agreement are to remain confidential. DUG Technology’s core business involves geoscience, high performance computing facilities, proprietary software solutions, energy-efficient immersion cooling systems and tailored geoscience services. The company’s ASX announcement was approved for release by the Board of DUG Technology Ltd.
