San Francisco, California — Hybrid Coating Technologies, which commercialises technology to produce non-isocyanate-based polyurethanes, expects to start generating sales of around $2m in 2017 as a result of a coatings distribution agreement in the US. It may see its first foams sold, also.
Hybrid, in trading statement, said it has partnered with a three of Fortune 500 companies in 2016. The first partnership is to jointly develop a foam product with a potential market of $10m, a second partnership is aimed at a potential market of $35m and the third is worth potentially $20m. The company added that it is not including any revenue from these products in its 2017 figures, but said "it is possible that one or more of these foam products may be ready for commercialisation in 2017."
Joseph Kritsul, Hybrid president and ceo said: "We expect to make significant progress on all of our foam developments in 2017 with the possibility of launching a foam product within the next year."
