[... H.265 ... ] is not something that can serve as a universal video codec across hardware and software. Thus, we believe the industry needs a high quality, next-generation codec that can be used everywhere.
To further those ends, we began a project to create a new video codec which would meet these needs. We call this project Thor. The effort is being staffed by some of the world’s most foremost codec experts, including the legendary Gisle Bjøntegaard and Arild Fuldseth, both of whom have been heavy contributors to prior video codecs. We also hired patent lawyers and consultants familiar with this technology area. We created a new codec development process which would allow us to work through the long list of patents in this space, and continually evolve our codec to work around or avoid those patents. Our efforts are far from complete, but we felt it was time to open this up to the world.
As a result, we released project Thor to the community two weeks ago. We open sourced the code, which you can find here:
http://thor-codec.org. We also contributed Thor as an input to the Internet Engineering Task Force (IETF), which has begun a standards activity to develop a next-gen royalty free video codec in its NetVC workgroup.