Hybrid Coating Technologies Inc (fka HCTI)

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SOURCE: HELLO HERE IS THE NEWS YOU ASKED FOR

http://globenewswire.com/news-release/2017/03/28/945895/0/en/HCTI-DTSC-Moves-Further-Towards-New-Regulations-in-Spray-Foam-Market.html

HCTI: DTSC Moves Further Towards New Regulations in Spray Foam Market


March 28, 2017 09:32 ET | Source: Hybrid Coating Technologies Inc.
SAN FRANCISCO, March 28, 2017 (GLOBE NEWSWIRE) -- Hybrid Coating Technologies Inc. (OTC Pink:HCTI) is pleased to announce that the California Department of Toxic Substances Control (DTSC) recently announced a proposal to list spray polyurethane foam insulation (SPF) materials containing unreacted methylene diphenyl diisocyanates (MDI), a key component in SPF, as a “Priority Product” under the state’s Safer Consumer Products Program. Now that MDI type isocyanates are listed as a Priority Product, manufacturers of spray foam in California will be required to supply a detailed analysis report showing alternative chemicals they will use in the future to replace isocyanates currently used in spray foam. The DTSC will then take this into consideration when drafting new legislation regarding isocyanates in spray foam. If the manufacturer fails to supply this report, then the responsibility falls on the importer, distributor and finally the retailer. If this fails, then the products would be removed from retailers’ shelves. “We are very pleased that the DTSC has moved one step closer to legislating against isocyanates,” said Joseph Kristul President and CEO. “As the leader in zero isocyanate polyurethane formulations we would be well positioned to benefit from this legislative change.”

The insulation market in the US alone will reach $10.4B by 2019 of which almost half will be comprised of sprayable foam.

See below for more details on the DTSC’s action against isocyanates:

http://www.dtsc.ca.gov/SCP/upload/SPF_ISOR.pdf

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.

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SOURCE: HOSSEYN