SAN FRANCISCO, Nov. 15, 2010 (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 PolyurethaneTM 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.
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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.
CONTACT: Nanotech Industries International Inc. Marketing & Investor Relations Elena Shenkar 650-491-3449 x 2