|Acquired by||EPOD Solar, Inc. (EPDS OTC BB)|
Nanotech Industries International Inc., currently operating under a DBA of Hybrid Coating Technologies (HCT), is a San Francisco based Company whose mission is to improve the quality and safety of paints and coatings for industrial and commercial customers globally by replacing the current toxic formulations of polyurethane with its alternative toxic free formulations of polyurethane which contain zero isocyanates. The Company’s current products include Green Polyurethaneâ„¢ coatings, paints and raw binder ingredients which are offered to most of North America, Europe and South America (global polyurethane industry expected to reach $92.5+ billion by the end of 2011).
On August 30, 2010, Nanotech Industries International underwent a reverse merger with EPOD Solar, a Nevada corporation in order to list its shares on the OTC BB under the ticker EPDS. Nanotech Industries International expects to change its legal name to that of the DBA in the near future.
To date, HCT is the only company in the world capable of making polyurethane without toxic isocyanate. HCT was currently the runner up to BASF at this yearâ€™s Polyurethane Technical conference in Houston for the Polyurethane Innovation Award. Dr. Oleg Figovsky, the inventor of zero isocyanate Polyurethane, received the Gold Angel Prize at the â€œGenious-2006â€ exhibition and the 2007 NASA Nanotech BriefsÂ®â€™ Nano 50â„¢ Award and is Chairman of UNESCO chair â€œGreen Chemistryâ€. Infineon Raceway used HCT’s Green Polyurethane products for the first time on one of its high-traffic garage floors at the 2009 Toyota/Save Mart 350 race, part of the NASCAR Sprint Cup series. The EPA has shown strong interest in Green Polyurethane and has contacted HCT to support its efforts to manufacture and distribute Green Polyurethane products in the US. The Company is in advanced discussions with Lynden Doors (www.lyndendoor.com) who is currently reviewing its product with the intention of placing a recurring $3 million order per year and was just approached by many other companies at the SEMA Convention in Las Vegas.
HCT also entered into a memorandum of understanding with Shufa Co from Jiande City, China for the development of a joint venture to manufacture and distribute HCTâ€™s technology in China and South East Asia. China is now the world leader in polyurethane production as well as a significant consumer of polyurethane based consumer goods. The Wall Street Reporter saw this press release and interviewed Joseph Kristul, the CEO (http://www.wallstreetreporter.com/2010/11/epod-solar-inc-otcbbepds-ceo-interview/).
The toxic nature of isocyanates and the pervasive use of polyurethane worldwide has created catastrophic industrial accidents and serious environmental and health problems both in the workplace and for consumers. The National Institute for Occupational Safety and Health reported that numerous studies have documented that on average 5 to 15 percent of those who work with diisocyanates develop occupational asthma. In the 2009 European Agency for Safety and Health at Work report, isocyanates were identified as an emerging chemical risk to occupational health and safety. ISOPA, the European diisocyanate and polyol producers association has informed polyurethane processors that they should now be preparing for the various possibilities engendered by the proposed European regulations, encapsulated by the acronym REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals). Substances of very high concern must be authorized under REACH and their use may be subject to restrictions. More than 23,500 companies are involved in the sector employing well over 800,000 people generating nearly $178 billion, making the polyurethane industry a key part of Europeâ€™s industrial infrastructure. These companies must now meet all current and future restrictions including the possibility of a complete ban on certain chemicals making new regulations an important concern for the industry.
Until a solution is found, companies face increased costs to produce, store, apply, remove, and dispose of toxic isocyanates as well as increased liability risks due to exposure both in the workplace and in the general public.
Traditionally, green meant fewer features, higher cost or lower quality. HCTâ€™s patented breakthrough Green Polyurethaneâ„¢ is environmentally friendly, completely eliminates toxic isocyanates from polyurethane, increases quality and broadens areas of polyurethane applications, all at a lower cost than its toxic alternative, a feat which is uncommon among the green industry.