Eurotech (CE) (USOTC:EUOT)
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Eurotech Increasing Marketing Support Activities
MANASSAS, Va., June 21 /PRNewswire-FirstCall/ -- Eurotech, Ltd. (OTC Pink
Sheets: EUOT) today announced that it has signed a nondisclosure agreement with
Environmentally Friendly Materials GmBH and will be providing marketing support
to EFM for the commercialization of the Hybrid Nonisocyanate Polyurethane
(HNIPU) technologies.
In the recent shareholder update from Eurotech, Mr. Carey Naddell, Eurotech's
Chairman and CEO, revealed that a number of marketing activities had been
initiated to support the commercialization of Eurotech's patented HNIPU
technologies in the US. Now that Environmentally Friendly Materials has
obtained a non-exclusive license to market and sell HNIPU in the US from
Eurotech's licensee Global Matrechs, Inc., Eurotech will be sharing the results
of its recent marketing activities with EFM. As reported earlier, Eurotech is
in discussions with a US polymer manufacturing company concerning the
establishment of a US based toll production capability for HNIPU and will be
working with EFM to secure a stable production capacity in the US. Any
resulting sales of HNIPU by EFM in the US will benefit both Global Matrechs and
Eurotech through the respective licensing agreements that specify royalty
payments on product sales.
Eurotech is attempting to increase the supporting activities for the waste
sensing and monitoring market and has recently entered into discussions with
the developer of a highly advanced electromagnetic environmental sensing
technology for the rights to market sensing and monitoring services in the US.
Should current discussions be successful, Eurotech would be able to offer
significantly improved sensing and monitoring capabilities for nuclear waste,
and complement Eurotech's EKOR nuclear waste encapsulation technologies.
Meanwhile, Eurotech is continuing its efforts to find non-nuclear spin-off
applications of its EKOR technology in the industrial coatings market and has
been discussing a transportation industry application with a regional paint
company that supports a major transportation fabricator.
Over the past two years, Eurotech has successfully settled many of its prior
outstanding debts but has been rebuffed by Global Matrechs in attempts to
settle our differences. Management believes this is preventing the Company from
moving forward to a fully operational and reporting state. Eurotech may be left
with no alternative but to take its own legal actions against its licensee,
Global Matrechs, Inc. if the two sides can't come to an amicable agreement.
Meanwhile, Eurotech will maintain and try to expand its technology portfolio in
order to support current and future technology licensees.
About Eurotech, Ltd.
Eurotech is a corporate asset manager seeking to acquire, integrate and
optimize a diversified portfolio of advanced technologies in various markets.
Our mission is to build value in our emerging technologies by providing each
with the resources it needs to realize its strategic business potential.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995 Investors are
cautioned that certain statements contained in this document as well as some
statements in periodic press releases and some oral statements of Eurotech,
Ltd. officials during presentations about Eurotech, Ltd., are "forward-
looking" statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the "Act").
Forward-looking statements include statements which are predictive in nature,
which depend upon or refer to future events or conditions, which include words
such as "expects," "anticipates," "intends," "plans," "believes," "estimates,"
or similar expressions.
In addition, any statements concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business strategies or
prospects, and possible future actions, which may be provided by management,
are also forward-looking statements as defined by the Act.
Some of the factors that could significantly impact the forward-looking
statements in this press release include, but are not limited to: insufficient
cash flow to continue to fund the development and marketing of the Company's
products and technology; a rejection of the Company's products and technologies
by the marketplace, and; disputes as to the Company's intellectual property
rights.
Forward-looking statements are based upon current expectations and projections
about future events and are subject to risks, uncertainties, and assumptions
about Eurotech, its technology, economic and market factors and the industries
in which Eurotech, Ltd. does business, among other things.
These statements are not guarantees of future performance and Eurotech, Ltd.
has no specific intention to update these statements. More detailed information
about those factors is contained in Eurotech Ltd.'s filings with the Securities
and Exchange Commission.
DATASOURCE: Eurotech, Ltd.
CONTACT: Carey Naddell of Eurotech, Ltd., +1-561-350-5155,
Web site: http://www.eurotechltd.com/