Xeriant Inc (XERI)

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Xeriant Enters into Definitive Agreement with Movychem on Retacell® Fire Retardant Technology (April 04, 2021)

Breakthrough Eco-Friendly Fire Retardant Potentially Impacts Industries Valued at Over $5 Trillion

https://www.globenewswire.com/en/news-release/2022/04/04/2415698/0/en/Xeriant-Enters-into-Definitive-Agreement-with-Movychem-on-Retacell-Fire-Retardant-Technology.html

BOCA RATON, Fla., April 04, 2022 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “The Company”), an aerospace company dedicated to Advanced Air Mobility, announced today the signing of a joint venture agreement with 26-year-old Slovakian chemical company, Movychem s.r.o. (“Movychem”). The definitive agreement establishes a U.S.-based partnership between Xeriant and Movychem, structured as a 50/50 joint venture, which has acquired the exclusive worldwide rights to the internationally patented, eco-friendly Retacell® fire retardant technology and is responsible for developing applications and commercializing products derived from Retacell®. The establishment of the joint venture is the culmination of several months of negotiations, which included a series of meetings in December 2021 held in the Czech Republic.

“The Movychem agreement is a landmark achievement and represents a significant revenue opportunity for Xeriant. We’re grateful to everyone who helped us reach this milestone, including an international team of tax attorneys, patent specialists, translators and researchers. Our objective now is to drive sales and accelerate the global presence of Retacell, leveraging our relationships, identifying applications in foundational industries, and providing the necessary capital to fund R&D and scale up production capabilities,” commented Keith Duffy, CEO of Xeriant.

The number of potential applications for Retacell is almost unlimited, impacting a broad range of industries from transportation and construction to electronics and home furnishings, valued at over $5 Trillion. In the aerospace industry, Retacell is anticipated to have far reaching implications for improving safety and reducing maintenance in aircraft, with potential uses in airframe structures, cabin interiors, wiring insulation and engine components. Retacell’s exceptional fire protection properties have generated interest from key players in the construction industry and building materials retailers in the U.S., who are looking for more cost-effective and sustainable fire protection solutions. The global green construction materials market, estimated at $318 Billion in 2021, is projected to reach $575 Billion by 2027, based on a report by Emergen Research.

“Movychem is excited to be working with Xeriant to capitalize on the vast revenue opportunities in the green fire retardant chemicals market and to position our uniquely versatile Retacell product as the fire protection standard across multiple verticals on the world stage. Xeriant’s Senior Advisor Dave Zajac, who brings extensive contacts and expertise from his over 40 years as an executive in the building materials industry, is enthusiastic about Retacell as a potentially game-changing product for home builders,” stated Martin Stloukal, of Movychem.

Developed over two decades, Movychem’s Retacell is a biodegradable and non-toxic high-performance thermal and fire protection chemical agent that is custom formulated to meet each application’s specifications and can be applied as a coating, treatment, or infused during manufacturing into a variety of materials, including recycled plastics and wood-based fiber. In addition to becoming heat and fire resistant, the resulting Retacell-enhanced materials are also water resistant.

To learn more about Retacell’s remarkable fire protection capabilities, please view the videos below demonstrating the technology’s unique ability to perform under extreme conditions:

Plastic/Fiberglass demo
Non-flammable epoxy demo
Non-flammable textile demo
Fireproof treatment of hemp fiber demo
The Company will be filing with the SEC a Current Report on Form 8-K, which will provide detailed information regarding the Joint Venture.

About Movychem s.r.o.

Founded in 1996, Movychem s.r.o. (“Movychem”), the inventor of Retacell, is a chemical manufacturing company that develops and distributes specialty materials, primarily in Central Europe. Their product line includes sealants, adhesives, fillers, additives, colorants, paints, coatings, fire retardants, and waterproofing materials for a variety of industries and applications. In 2001, Movychem began its research, development and testing of its fire and thermal protection technologies, called Retacell, which led to several global patents. Until 2019, the company was not engaged in the marketing and distribution of Retacell, because its focus was on R&D, testing and certification.

About Xeriant, Inc.

Xeriant, Inc. (d.b.a. Xeriant Aerospace) is an aerospace company dedicated to the emerging aviation market called Advanced Air Mobility (AAM), the transition to eco-friendly on-demand flight, and is partnering with and acquiring strategic interests in visionary companies that accelerate this mission. Xeriant is focused on the development and deployment of next-generation electrically powered aircraft capable of vertical takeoff and landing (VTOL), breakthrough technologies and advanced materials which can be successfully integrated and commercialized, and the critical infrastructure components needed to support operations. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport.

For more information, please go to www.xeriant.com.