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Eurocontrol Announces Research Agreement with Ramot at Tel Aviv University
TORONTO, ONTARIO--(Marketwired - Sept. 2, 2014) -
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Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification and certification technologies for numerous vertical markets, is pleased to announce that its wholly owned subsidiary Global Fluids International S.A. ("GFI") has entered into a sponsored research agreement with Ramot at Tel Aviv University focusing on the University's mandate to liaise with industry to bring promising scientific discoveries to commercialization. Renowned chemist Professor Fernando Patolsky will be leading the sponsored research project focused on a novel approach to fuel marking. GFI will have a first right of opportunity for the licencing and commercialization of the technology that is resulted from the sponsored research project.
W. Bruce Rowlands, Chairman and CEO stated, "We are very pleased to have partnered with Ramot at Tel Aviv University, an institute that is well known for advancing unique technologies to commercial markets through sponsored research and development agreements with industry, such as the one we have entered into today." Mr. Rowlands further commented, "The sponsorship of this project with Professor Patolsky is an important investment in advancing fuel authentication technology and is a further example of how Eurocontrol remains a leader in the authentication, certification and verification technology markets worldwide."
About Eurocontrol Technics Group Inc.
Eurocontrol through its three wholly owned subsidiaries, Global Fluids International S.A. ("GFI"), Xenemetrix Inc. ("Xenemetrix") and XwinSys Ltd. ("XwinSys"), is a leading provider and innovator of detection and marking systems worldwide. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry and XwinSys is currently a development stage company. GFI's unique and proprietary liquid authentication system, Petromark™, is the world's leading solution for fully integrated oil marking, mixing and detection. Xenemetrix is a leading designer, manufacturer and marketer of energy-dispersive x-ray fluorescence ("EDXRF") systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. XwinSys is developing technology and intellectual property that will combine 2D and 3D image processing technology from Brossh Inspection Systems Ltd. of Israel with Xenemetrix's EDXRF technology for application in the semi-conductor manufacturing process.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca.
About Ramot at Tel Aviv University Ltd.
Ramot is Tel Aviv University's technology transfer company and its liaison to industry, bridging promising scientific innovations made at the university to commercialize with industry. The company provides the legal and commercial frameworks for inventions made by TAU faculty, students and researchers, protecting discoveries and innovations with patents and working jointly with industry to bring scientific innovations to the market. For more information, please visit Ramot's website at www.ramot.org.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains forward-looking statements. More particularly, this press release contains statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by Eurocontrol. Although Eurocontrol believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Eurocontrol can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in Eurocontrol's management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2013 and the second quarter ended June 30, 2014 which are available on the Corporation's profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Eurocontrol undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.