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cology Coatings, Inc. (OTCBB: ECOC), a leader in the discovery and development of nanotechnology-enabled, ultra-violet curable advanced materials, today announced that it has entered into a research agreement with the Department of Paper Engineering, Chemical Engineering and Imaging at Western Michigan University (WMU). The principal investigator for the research project will be Professor Margaret Joyce.
Under the terms of the Agreement, the research team will review the basic chemistry and properties of a selected number of Ecology Coatings' EcoQuik paper products to ascertain their applicability with certain paper and printing applications. The materials also may be used in conjunction with generic paper and board coating formulations or ink formulations, to test their performance and suitability for specific applications. A report outlining the scope and success of the initial phase of the work, which is expected to take approximately two to three months, will be provided to Ecology Coatings' management.
"Our founder and Vice President of New Product Development, Sally Ramsey, is the inventor of our waterproof, nano-enabled paper coatings, an application with far reaching uses, including the ability to inhibit the growth of the toxic black mold, stachybotrys chartarum, on wallboard and other materials," noted Ecology Coatings CEO Richard D. Stromback. "On the surface there are numerous uses for our EcoQuik paper coatings, including advanced packaging and printed electronics applications, and we believe it is best to leverage the renowned research capabilities of WMU to further develop and enhance the commercial value of these products."
Stromback continued, "Our EcoQuik coatings' competitive edge lies in its cleantechnology development paradigm and the use of nanomaterials in its formulation. Our proprietary technology is solvent-free, produces no VOCs or HAPs and cures under UV light without the use of heat -- reducing energy consumption in the manufacturing process by upwards of seventy percent. The use of nanomaterials in the formulation allows our coatings to adhere to a wide variety of substrates, including metals, plastics, paper and glass, providing for superior wear, scratch, chemical and water resistance as well as hardness with a single application."
WESTERN MICHIGAN UNIVERSITY
WMU is a Carnegie-designated Doctoral/Research-Extensive university and one of only 100 public research universities to be included in this top classification. WMU Department of Paper Engineering, Chemical Engineering and Imaging is internationally recognized in terms of high quality applied research and high caliber graduates. For more information, visit www.wmich.edu.
About Ecology Coatings, Inc.
Ecology Coatings is a global leader in the development of nano-enabled, ultra-violet curable, clean technology coatings that are designed to drive efficiencies and clean processes in manufacturing. The company creates proprietary coatings with unique performance attributes by leveraging its platform of integrated nanomaterial technologies. Ecology Coatings collaborates with industry leaders to develop high-value, high-performance coatings for applications in the paper, automotive, general industrial, electronic, and medical sectors of the economy. Ecology Coatings was founded in March 1990 and is headquartered in Bloomfield Hills, Michigan. The company maintains an R&D facility in Akron, Ohio. For additional information call 248.723.2223 or visit the company's website at www.ecologycoatings.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as, Ecology Coatings (the "Company"), by and through its management, "anticipates," "believes," "estimates," "expects," "forecasts," "foresees," "intends," "plans," or other words of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and a wide variety of other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the Company's ability to: successfully commercialize its technology; generate revenues and achieve profitability in an intensely competitive industry; compete in products and prices with substantially larger and better capitalized competitors; secure, maintain and enforce a strong intellectual property portfolio; attract additional capital sufficient to finance our working capital requirements, as well as any investment of plant, property and equipment; develop a sales and marketing infrastructure; identify and maintain relationships with third party suppliers who can consistently provide us a reliable source of raw materials; acquire, develop, or identify for our own use, manufacturing capacity; attract and retain talented individuals; expand its shareholder base and public awareness of the Company through its investor relations program; continue operations during periods of adverse changes in general economic or market conditions, and other events, factors and risks previously and from time to time disclosed in our filings with the Securities and Exchange Commission, including, specifically, the "Risk Factors" enumerated in the Company's latest Annual Report on Form 10-KSB.
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