AUBURN HILLS, Mich., Aug. 24, 2009 /PRNewswire-FirstCall/ – Ecology Coatings, Inc. (OTC:ECOC) (BULLETIN BOARD: ECOC), a leader in the discovery and development of nanotechnology-enabled, ultraviolet-curable advanced coatings, today announced that it has signed a collaboration agreement with a major tobacco company for the application of its technology for producing “fire standard compliant” (FSC) cigarettes. FSC cigarettes are designed to meet government reduced ignition propensity testing standards. Ecology has filed a patent application with the U.S. Patent and Trademark Office for its technology.
The agreement establishes the framework under which the two companies plan to test and commercialize FSC cigarettes using Ecology Coatings’ unique paper coating technology. Milestone payments will be made to Ecology Coatings as predefined development and testing milestones are met. If those payments are met, royalty payments will commence with market introduction and product sales.
“The goal of our collaboration with this tobacco company is to meet government requirements for FSC cigarettes while at the same time allowing the manufacturer to produce at full production speeds,” said Ecology Coatings CEO Bob Crockett. “Our solution has the potential to allow manufacturers to be self-reliant and eliminate the need for specialty paper. Our uniqueness resides in our ability to cure UV coatings at high speeds at substantial cost savings.”
Crockett continued, “This application is an outgrowth of our patented disruptive paper barrier coating technologies. By designing the solution as part of the manufacturing process, manufacturers can reduce their costs. We believe this is an exciting opportunity that could be very rewarding to our company and its shareholders.”
The Coalition for Fire-Safe Cigarettes reports that approximately 40 states in the U.S. and Washington, D.C., have passed legislation calling for the production of FSC cigarettes (http://firesafecigarettes.org/). The Coalition’s goal is to save lives and prevent injuries due to cigarette-induced fires. The Coalition reports that 99.8 percent of the U.S. population is now or soon will be governed by state fire-safe cigarette legislation.
(1) The source of this information is the U.S. Department of Agriculture
About Ecology Coatings, Inc.
Ecology Coatings, Inc. (OTCBB:ECOC) is a world leader in the development and licensing of cleantech ultra-violet (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, visit the company’s website at http://www.ecologycoatings.com/.
Except for the historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties which are specified in Ecology’s filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.
Investor and Media Relations
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Marty Tullio, Managing Member
Source: Ecology Coatings, Inc.