SAN FRANCISCO, July 1, 2013 (GLOBE NEWSWIRE) -- Hybrid Coating Technologies Inc. (OTCBB:HCTI) is pleased to announce that previously, the US EPA mentioned the company's technology as an alternative to toxic polyurethane coatings in its previously issued Action Plan. In its Action Plan, the EPA discussed the dangers of isocyanates on industry employees and the general public and its desire to control and potentially outright ban isocyanates in polyurethane in the future. According to the EPA's Action Plan, isocyanates have been documented to cause asthma, lung damage and even death in certain cases. On page 4 of its Action Plan, which can be found at: http://www.epa.gov/oppt/existingchemicals/pubs/actionplans/mdi.pdf the scientists Figovsky and Shapovalov who are the founders of Hybrid's technology and who are presently continuing to develop enhanced and new formulations for the company, are mentioned as an alternative to toxic polyurethane.
"Hybrid's patented technology is the only formulation in the world today that produces polyurethane without the use of any isocyanates in the entire production process. The polyurethane industry has started to feel pressure to deal with toxic isocyanates, which puts the Company in a strong position," said Joseph Kristul, President and CEO of Hybrid. "We have received alot of interest from large players in our industry both for the quality and durability of our products and for the environmental benefits of our isocyanate free technology and we expect some of this interest to translate into collaborations and commercial agreements in the near future." This is the first time in over a decade that the US EPA has issued an action plan for the polyurethane industry.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hybrid Coating Technologies Inc. to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Hybrid Coating Technologies Inc undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Hybrid Coating Technologies Inc. expectations.
About Hybrid Coating Technologies
Hybrid Coating Technologies (HCT) is a San Francisco-based innovator focused on improving the quality and safety of coatings and paint for industrial and commercial customers around the world. We are the exclusive licensee of Green Polyurethane™ coatings and paint – the world's first-ever patent protected polyurethane-based coatings and paint products which eliminate toxic isocyanates from the entire production process (licensed by Nanotech Industries, Inc.).
The Problem of Conventional Coatings/Paint and Isocyanates
Conventional polyurethane (PU) paint and coatings have many disadvantages: they are porous, permeable and maintain poor hydrolytic stability. This makes the material highly vulnerable to environmental degradation and ultimately leads to their chemical decomposition, especially when in contact with water. Even worse, the manufacture of conventional polyurethanes involves highly toxic components such as isocyanates, which can cause irritation of skin and mucous membranes, chest tightness, difficult breathing, upset stomach, fevers and prolonged exposure has been known to cause severe asthma and even death. Furthermore, strict and costly health & safety measures have to be implemented in the manufacture and application of conventional polyurethane due to the toxicity of isocyanates. This is why regulatory bodies around the world are now looking toward phasing out the use of isocyanates.
The Green Polyurethane™ Solution
Green Polyurethane™ (also referred to as "HNIPU" - hybrid non-isocyanate polyurethane) is a "hybrid" material, which combines the high chemical resistance properties of epoxy and advanced durability and wear resistance properties of polyurethane, making it the perfect application for high traffic and corrosive surface areas. As a hybrid material with superior properties, Green Polyurethane ™ can be applied in one coating in most cases, providing a welcome cost-saving substitute to currently used multi-layered flooring applications. Green Polyurethane™ also provides the first sound solution to the environmental and health hazards associated with isocyanates in polyurethane. Its safety features allow it to be applied without the interruption of business due to public exposure, creating an additional 30-60% savings on application costs for customers.