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Ecology Coatings, Inc. (OTC Bulletin Board: ECOC), a leader in the discovery and development of nanotechnology-enabled, ultraviolet curable advanced coating materials, today announced that it has signed an agreement with a customer for a dedicated production line using Ecology's patented technology for UV cured coatings on five gallon metal containers made from cold rolled carbon steel. For competitive reasons, the customer has asked Ecology not to disclose its name. The agreement is exclusive to the operations of both parties in North America.
"Our customer has dedicated an entire pilot manufacturing line so that we
can complete the program and become operational as quickly as possible,"
commented Ecology CEO Bob Crockett. "With this customer commitment and the
pending successful completion of production testing, we expect the program
to be operational on the initial manufacturing line within 12 months. The
driving force behind this program is the significant energy savings and
improved process efficiency realized by the customer through the adoption of our technology."
Ecology Coatings' EcoQuik(TM) product family, formally launched in April 2008, is comprised of three coating lines, clear coatings, pigmented coatings and barrier coatings, targeting markets in excess of $21 billion in North America (Frost & Sullivan 2007). This program utilizes the technology of patent number 7,498,362, recently awarded by the US Patent and Trademark Office, which provides superior adhesion to metal surfaces and provides flexibility, durability and scratch resistance.
"Our product performance characteristics and user benefits make our UV curable coatings a desirable alternative to traditional coatings in a wide range of diversified markets, from automotive to packaging industries and products ranging from medical products to paper labels," said Crockett. "We are aggressively expanding our intellectual property portfolio of cleantech UV coatings and are highly focused on pursuing license agreements and joint development programs with leaders in the transportation, durable goods, electronics and health care sectors."
Ecology's EcoQuik(TM) coatings provide superior wear, scratch resistance and hardness with a single application, which reduces coating thickness and offers versatility in applications. All of Ecology's coatings are ultraviolet curable, which provides for faster manufacturing speeds, lower energy output and a smaller manufacturing footprint. Additionally, the cleantech coatings contain no harmful solvents or other additives, eliminating and protecting against potential corrosion or flash rusting.
About Ecology Coatings, Inc.
Ecology Coatings, Inc. (OTCBB:ECOC), is a world leader in the development and licensing of cleantech ultraviolet (UV) curable coatings - coatings that improve the products we use daily. Ecology's technology platform allows manufacturers to enhance the durability and performance of their products, while significantly reducing energy costs and increasing manufacturing throughput. The company produces solid coatings which eliminate the escape of harmful solvents into the atmosphere during application. Headquartered in Auburn Hills, Michigan, Ecology Coatings has a development and prototype lab in Akron, Ohio. For additional information, call 248-370-9900.
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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