OH, May 17, 2005 --- Ecology Coatings Inc., a leading
provider of nano-engineered ultraviolet curable coatings,
and Red Spot Paint & Varnish,
announced today that Ecology Coating granted Red
Spot a license to manufacture and sell a proprietary
product for use in applications in North America.
Terms of the licensing agreement were not disclosed.
"From the beginning, we saw tremendous potential in collaborating with Ecology
Coatings," said Tim Tanner, UV product manager, Red Spot. "With Ecology Coatings'
breakthrough 100 percent liquid solids, UV curable technology and Red Spot's
premier UV curable manufacturing and processing technology, this licensing agreement
was a natural fit. As longtime leaders in the UV curable coating market, Red
Spot already has the complete infrastructure in place to launch and supply the
company's innovative coatings technology."
Ecology Coatings' proprietary coatings deliver superior performance and enable
dramatic process efficiencies for manufacturers. The company's breakthrough
100 percent solids formulations contain no water, solvents or other liquid
components that need to evaporate for the coating to set; a characteristic
that reduces manufacturing line space by 80 percent, cuts energy consumption
by 75 percent and dramatically decreases EPA reporting requirements. With a
curing process that requires only a few seconds of ultraviolet light exposure,
the durable coatings are particularly well suited for heat-sensitive applications
that cannot withstand the high temperatures of the traditional finishing process.
"By licensing our technology to an industry leader like Red Spot, we're able
to quickly and effectively deliver our high-performance, process efficient coatings
to market," said Rich Stromback, CEO of Ecology Coatings. "Through the agreement,
we're supplying manufacturers with a product that offers the durability of traditional
coatings with substantial advantages in terms of the time and energy needed on
the manufacturing line."
About Ecology Coatings:
Ecology Coatings is a world leader in the development of nano-engineered, ultraviolet
curable coatings. Using a platform of integrated nano-material technologies,
the company creates proprietary coatings with unique performance attributes.
Ecology Coatings collaborates with industry leaders to develop revolutionary
high-value, high-performance coatings for military, automotive, industrial,
electronic and medical applications. Ecology Coatings is a privately held
company based in Akron, Ohio.
For more information visit www.ecologycoatings.com
About Red Spot Paint & Varnish:
Red Spot provides advanced, high-performance coatings for plastics
to automotive and consumer product markets around the world. Inventors
of the first paint for plastics, Red Spot leverages over 100 years
of innovation to continue bringing new coatings to market. Today
Red Spot leads the industry in the development and commercialization
of ultraviolet curable coating technology, available worldwide through
its Global Alliance Partners supplying local R&D, Manufacturing,
Sales, and Technical Support. A privately held company, Red Spot is based
in Evansville, Indiana.
For more information please visit www.redspot.com
Copyright © Ecology Coatings