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Ecology Coatings Announces Award of its Seventh U.S. Patent
Wednesday, March 18, 2009
Latest Patent Protects Manufacturing Process and Methods for Environmentally Friendly Coating Used on Metal Substrates, Including Flexible Metal Objects
Auburn Hills, MI -- Ecology Coatings, Inc. (OTCBB: ECOC), a leader in the discovery and development of nanotechnology-enabled, ultraviolet curable advanced materials, today announced that the U.S. Patent and Trademark Office awarded the company its seventh patent pertaining to its cleantech, environmentally friendly coatings. U.S. patent number 7,498,362 covers the processes and underlying technologies for producing environmentally friendly, nanotechnology-enabled, ultraviolet cured coatings for metal substrates and flexible objects.
"The benefits of the coatings and processes are twofold," explained Ecology Coatings CEO Bob Crockett. "Metal substrates, such as aluminum, chrome or stainless steel, are particularly difficult to adhere to, and require coatings that are corrosive resistant and lightweight. On the other hand, there are many applications where flat steel or aluminum sheets are used in forming and blanking operations and require a high-performance coating that is flexible and moves with the substrate. Our EcoQuik product provides both superior adherence and unequalled flexibility."
Ecology Coatings' EcoQuik product family, formally launched in April 2008, is comprised of three coatings lines, clear coatings, pigmented coatings and barrier coatings, and targets markets in excess of $21 billion in North America (Frost & Sullivan 2007).
EcoQuik products can replace decorative chrome by enabling hard chrome substitutes for weight reduction -- a significant benefit in the automotive industry. There is an increased use of physical vapor disposition (PVD) as a replacement for traditional chrome or electroplating. EcoQuik products provide a tie coat between the base product (metal or plastic) and the protective overcoat to shield against corrosion and scratches in the harshest environments. On the more glamorous side, the EcoQuick product is perfect for use in 'bright' retail packaging of personal care products, cosmetics, and electronics, where plastic is coated for a desired 'shiny' look.
"We continue aggressively to expand our intellectual property portfolio of cleantech UV coatings," said Crockett. "The award of this particular patent is important because we are highly focused on pursuing license agreements and joint development programs with leaders in the transportation, durable goods, electronics and consumer products sectors -- all of which can benefit from our coatings' ability to adhere to metal and/or flexible substrates."
Ecology's EcoQuik coatings provide superior wear, scratch resistance and hardness with a single application reducing coating thickness and offering 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 or visit the company's website at http://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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