SAN FRANCISCO, Aug. 6, 2015 (GLOBE NEWSWIRE) -- Hybrid Coating Technologies Inc. (OTCBB:HCTI) is pleased to announce that it has entered into a definitive agreement with a large foam manufacturer to jointly develop foam products based on Hybrid's award winning technology for the shoe, Mattress and Furniture verticals. Hybrid's partner has numerous Fortune 500 clients, several of whom are part of the ©Zero Discharge of Hazardous Chemicals group www.roadmaptozero.com, such as Nike, New Balance and Adidas. The combined value of the shoe, Mattress and Furniture verticals for the polyurethane industry is expected to reach $10 billion by 2018 representing roughly 15% of the total polyurethane industry. "We are very happy to have entered into this agreement as it gives Hybrid access to an additional network of Fortune 500 companies," said Joseph Kristul president and CEO," This agreement allows Hybrid to address three additional verticals of the polyurethane industry with a large partner as we continue to execute on our strategy of having a presence in each of the largest segments of the polyurethane industry."
As part of the agreement, Hybrid will develop foam products to various specifications which will then be sold through its partner's existing distribution network of clients. Hybrid will retain sole intellectual property rights and ownership to all developed foam products arising from this agreement. To date, Hybrid is currently developing products in conjunction with various partners in the following segments of the polyurethane industry; Paints and Coatings, Spray Foam Insulation, Apparel, Shoe and Mattress and Furniture. Hybrid plans to enter a couple of additional verticals in the near future as part of its overall market penetration strategy.
AI
Market Data 
Markets 
