Hybrid Coating Technologies Inc (fka HCTI)

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Hybrid Signs Definitive Agreement With Fortune 500 Partner - $20M Potential Revenue Per Annum
Press Release | 02/11/2016
SAN FRANCISCO, Feb. 11, 2016 (GLOBE NEWSWIRE) -- Hybrid Coating Technologies Inc. (OTCBB:HCTI) is pleased to announce that it has recently executed the definitive agreement with its Fortune 500 partner to modify and then commercialize one of its products based on its non-isocyanate polyurethane platform technology. As mentioned in the previously issued April 7th 2015 and December 3rd, 2015 press releases, upon successful completion of the product modifications, Hybrid will co-own any new patents based on these modifications with this partner and will give to the partner, subject to agreed upon mandatory minimum order quantities to be placed by the partner, worldwide exclusive rights of the modified product for commercialization within the partner’s respective industry. Once commercialized and after a reasonable ramp up period, management expects, based on estimates provided by the partner that revenues to Hybrid from the sale of this product would reach $20M per annum. "We are very happy to have executed this definitive agreement with our Fortune 500 partner," said Joseph Kristul, President and CEO, “This definitive agreement demonstrates the commercial value of Hybrid’s technology and our ability to enter into definitive agreements with major companies that operate in the polyurethane industry.”

Hybrid is in advanced discussions and testing with several other Fortune 500 companies and expects to enter into agreements with some of these in the near future.

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.