Nanotech Industries International, Inc. Enters Into MOU With Shunfa Company For Chinese Manufacturing And Distribution Rights
San Francisco, CA (GLOBE NEWSWIRE) - EPOD Solar Inc. (OTCBB:EPDS) announced today that its wholly owned subsidiary, Nanotech Industries International, Inc. d/b/a "Hybrid Coating Technologies" (HCT), has entered into a memorandum of understanding (MOU) with Shunfa Co. from Jiande City, China to manufacture and distribute HCT's Green Polyurethane™ technology in China and South East Asia. Under the terms and conditions of the MOU, Nanotech will supply its technology and know-how to a jointly owned Chinese based LLC and Shunfa Company will be responsible for supplying the necessary capital and management of the LLC, including manufacturing, marketing and sales. HCT will receive a royalty on all sales from the LLC and a portion of the profits. The LLC will have exclusive rights to HCT's technology for China and South East Asia subject to satisfying certain minimum sales quotas. HCT, Shunfa Co. and the LLC will enter into an intellectual property agreement to protect HCT's technology and the LLC will apply for certain Chinese patents based on HCT's technology.
"We look forward to working with Shunfa Co. in developing one of the world's fastest growing markets for our technology," said Joseph Kristul, CEO and President of HCT, "and we expect to generate a significant amount of business in the near future."
According to IAL Consultants, China has been the world leader in polyurethane (PU) production since 2007 and is also a significant consumer of polyurethane based consumer goods. By 2012 total global production of PU is predicted to be 18,668,250 tons and China will produce 34% (6,347,205 tons) of all global PU.
Cautionary Disclosure About Forward-Looking Statements
This release contains "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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of EPOD Solar, Inc. to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. EPOD Solar, Inc. undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in EPOD Solar, Inc. expectations.
About Shunfa Co.
Shunfa Co. is an innovative chemicals company which develops, manufactures and distributes a broad range of products including penetrating agents, emulsifying agents, softening agents, leveling agents, foam hole regulators, antifoaming agents, antibacterial agents, surface treating agents, coating agents, polyurethane modifiers and water-based polyurethane adhesives used in the processing of polyurethane synthetic leather. Shunfa manufactures over 10,000 metric tons per year and has a broad client base including some of China's top ten leather manufacturers. Shunfa's facilities span over 400,000 square feet and are ISO9001-2000 certified. Shunfa has received numerous awards for excellence including: "Hi-tech Enterprise in Hangzhou," "Hi-tech Private Enterprise in Jiande City" and "Key Industrial Enterprise" in Jiande City.
About Nanotech Industries International
Nanotech Industries International d/b/a "Hybrid Coating Technologies" (HCT) is a San Francisco-based innovator focused on improving the quality and safety of coatings and paint for industrial and commercial customers around the world. We are the exclusive licensee of Green Polyurethane™ coatings and paint – the world's first-ever patent protected polyurethane-based coatings and paint products which eliminate toxic isocyanates from the entire production process (licensed by Nanotech Industries, Inc.).
The Problem of Conventional Coatings/Paint and Isocyanates
Conventional polyurethane (PU) paint and coatings have many disadvantages: they are porous, permeable and maintain poor hydrolytic stability. This makes the material highly vulnerable to environmental degradation and ultimately leads to their chemical decomposition, especially when in contact with water. Even worse, the manufacture of conventional polyurethane involves highly toxic components such as isocyanates, which can cause irritation of skin and mucous membranes, chest tightness, difficult breathing, upset stomach, fevers and prolonged exposure has been known to cause severe asthma and even death.
The Green Polyurethane™ Solution
Global coatings and paint companies, suppliers and consumers are seeking green solutions that make business sense. However, "green" has often meant fewer features, higher cost or lower quality. Green Polyurethane™ (also referred to as "HNIPU" -- hybrid non-isocyanate polyurethane) provides the world's first sound solution to the environmental and health hazards of isocyanates in polyurethane, costs up to 20% less to apply, and presents significant improvements to the properties of conventional polyurethane.
SOURCE: EPOD Solar Inc.
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