RIDGEFIELD, Conn., Jan. 27, 2009 (GLOBE NEWSWIRE) -- Global Matrechs, Inc. (Pink Sheets:GBMR) today announced that its licensed technologies division has completed an exclusive sales and sub-license Agreement with Nano Tech Industries, Inc.(NTI). The Company also announced that it has cancelled its non-exclusive Agreement with Environment Friendly Materials GmbH (EFM) for non-performance. HNIPU is a hybrid non-isocyanate polyurethane material for use in coatings and paints. The product has demonstrated improved performance characteristics, without adverse health and safety issues associated with isocyanates. NTI will become Global's marketing partner world-wide as well as sales partner in the United States. The Company anticipates that this agreement has the potential to generate as much as $325,000.00 in profit during 2009.
In addition, NTI has arranged for Global to have access to manufacturing facilities in Toronto, Canada, Europe and Israel. Michael Sheppard stated, "we are very excited about this arrangement and anticipate receiving our first responses in the first quarter 2009. 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."
NTI has indicated that based on the response from their marketing efforts it expects to start delivering on its first orders received during the first quarter 2009, so stated Joseph Kristul the organizer and original investor in NTI.
About HNIPU
The HNIPU (Hybrid Nonisocyanate Polyurethane) product exhibits superior resistance properties to chemical degradation in that it is 30-50 percent better than conventional polyurethanes and has significantly reduced permeability, up to three to four times less than conventional products. Unlike conventional polyurethanes that have a porous structure, poor hydrolytic stability and moderate permeability, NIPUs form into a material that has practically no pores. Due to the absence of isocyanates, HNIPU binder can accept fillers without special drying procedures and since HNIPU does not contain toxic isocyanates, the synthesis and use of HNIPU do not require special health protection procedures normally associated with the use of conventional polyurethanes. In addition, the limitations and dangers of conventional polyurethanes raise the need for modified materials and processes. By modifying the structure of the urethane polymer, a new method for increasing hydrolytic stability resulted in hybrid nonisocyanate polyurethane (HNIPU) which is modified polyurethane with lower permeability, increased chemical resistance properties and material synthesis with superior environmental characteristics to conventional polyurethanes. While conventional polyurethanes have unstable bonds that are easily hydrolyzed making the material extremely vulnerable to environmental degradation, an intramolecular hydrogen bond is formed during NIPU synthesis that improves hydrolytic stability well above that of conventional polyurethanes. Materials that contain intramolecular hydrogen bonds display chemical resistance 1.5 to 2 times greater than materials of similar chemical structure without such bonds.
"Forward-Looking Statements"
This press release contains forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the company's business including, increased competition; the ability of the company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence; general economic conditions; and other risks detailed time to time in filings with the Securities and Exchange Commission.
Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, or which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "hopes," "seeks," 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 these 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 technologies; the failure of the Company's products and technologies to become commercially marketable; the loss of key personnel; changes in financial markets and general economic conditions; and, disputes as to the Company's intellectual property rights, including the Company's rights to the technologies that it licenses from Eurotech, Ltd. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Global Matrechs, its licenses, products, economic and market factors and the sectors in which Global Matrechs does business, among other things. These statements are not guarantees of future performance and Global Matrechs has no specific intention to update these statements. More detailed information about those factors is contained in Global Matrechs's filings with the Securities and Exchange Commission.