Global Matrechs, Inc. Receives First European NuCap(TM) Order From Sales Partner NNRI
November 13 2007 - 10:30AM
Marketwired
RIDGEFIELD, CT is pleased to announce that the Company has
received an order for more than one metric ton of its NuCap(TM)
product from NNRI (formerly Nucon-RF, Inc.). This order for
NuCap(TM), a radiation and corrosion-resistant technology,
represents the first of many orders planned over the next 12
months. The Company anticipates delivery of this order before the
year's end.
NNRI has the sub-license rights to market, sell and distribute
NuCap(TM) into the following territories: Russian Federation on an
exclusive basis, as well as the European Union, China, South Korea
and India on a non-exclusive basis. NNRI is a U.S. Corporation with
executive and operations offices in Berlin and Moscow. They have
currently identified demand in the following markets; Germany,
Russia and South Korea for the cleanup of nuclear waste for
NuCap(TM), including the Chernobyl Shelter.
According to CEO Michael Sheppard, "We have been working toward
the completion and commitment of this order since we originally
signed our original Agreement and I could not be happier to begin
this process with NNRI. I am very pleased to be associated with
NNRI and to foresee the market penetration, which was forecast for
NuCap(TM) by NNRI in the Eastern European markets, finally come to
fruition."
NuCap(TM), which is manufactured by Dow Corning through a
strategic partnership with Global Matrechs, will be used to
encapsulate highly radioactive material in all settings. NuCap(TM),
a family of advanced materials for nuclear and hazardous waste
containment, has been engineered for a wide variety of applications
to surround and immobilize radioactive or hazardous materials and
debris, ranging from fine dust to large pieces of equipment.
Fire-resistant and waterproof properties prevent migration by water
or air, and encapsulation capabilities ensure safe transportation
and secure permanent disposal.
About Global Matrechs, Inc.: Global Matrechs has operated its
licensed technologies business since 2004. Global Matrechs seeks to
convert the licenses it has acquired in emerging technologies in
the nuclear energy, environmental and chemical industries into
manufactured products primarily through sub-licenses of those
technologies to manufacturers and sales companies.
(www.globalmatrechs.com)
About NNRI, Inc.: NNRI has the capability to provide product,
technological and engineering support for environmental and
radioactive waste challenges including, compliance, shielding,
transport and storage requirements for a broad range of radioactive
and toxic wastes.
Safe Harbor: Investors are cautioned that certain statements
contained in this document as well as some statements in periodic
press releases and some oral statements of Global Matrechs, Inc.
officials during presentations are "forward-looking" statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 (the "Act"). Forward-looking statements include statements
which are predictive in nature, which depend upon or refer to
future events or conditions, or which include words such as
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," "hopes," "seeks," or similar expressions. In addition,
any statements concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business
strategies or prospects, and possible future actions, which may be
provided by management, are also forward-looking statements as
defined by the Act. Some of the factors that could significantly
impact these forward-looking statements in this press release
include, but are not limited to: insufficient cash flow to continue
to fund the development and marketing of the Company's products and
technologies; the failure of the Company's products and
technologies to become commercially marketable; the loss of key
personnel; changes in financial markets and general economic
conditions; and, disputes as to the Company's intellectual property
rights, including the Company's rights to the technologies that it
licenses from Eurotech, Ltd. Forward-looking statements are based
upon current expectations and projections about future events and
are subject to risks, uncertainties, and assumptions about Global
Matrechs, its licenses, products, economic and market factors and
the sectors in which Global Matrechs does business, among other
things. These statements are not guarantees of future performance
and Global Matrechs has no specific intention to update these
statements. More detailed information about those factors is
contained in Global Matrechs's filings with the Securities and
Exchange Commission.
Contact: Global Matrechs, Inc. 203-431-6665
www.globalmatrechs.com