Ridgefield, Connecticut - Global Matrechs Inc.'s technology division has completed an exclusive sales and sub-license agreement with Nano Tech Industries Inc. (NTI) for hybrid non-isocyanate polyurethane material (HNIPU), the company said 27 Jan.
The deal, potentially worth over $300 000, will see NTI become Global Matrechs' marketing partner worldwide, as well as sales partner in the US, while Global will have access to manufacturing facilities in Toronto, Canada, Europe and Israel, the company said. Global Matrechs said it has cancelled its former non-exclusive agreement with Environment Friendly Materials GmbH (EFM) for non-performance.
"We are very excited about this arrangement and anticipate receiving our first responses in the first quarter 2009," said Global Matrech ceo Michael Sheppard. "Our first manufacturing trial run with the new manufacturing facility will start by the end of February. We expect the early business to be generated in Europe as they are the leader in environmental issues. We see the American market to follow and we also expect that our initial business from 2008 will continue to grow," Sheppard added.
HNIPU, used in paints and coatings, has demonstrated "improved performance characteristics, without adverse health and safety issues associated with isocyanates," the company said.