Test and Measurement Innovators Focused on Key Growth Markets
Xenemetrix, winner of the Frost & Sullivan awards - 2010 and 2015
Eurocontrol Granted United States Patent
TORONTO, ONTARIO--(Marketwire - May 15, 2012) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
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, certification technologies, through its wholly owned subsidiary Global Fluids International S.A. ("GFI"), today announced the Company has been granted a patent by the United States Patent Office entitled "Method and System for Marking and Determining the Authenticity of Liquid Hydrocarbons" (US Patent 8,158,432).
The process patent protects GFI's Petromark™ fuel marking technology. This is the fourth process patent Eurocontrol has been granted. The Company also holds process patents for Petromark™ in India, China and Russia. Additional process patent applications have been submitted in other countries.
"This marks another milestone for Eurocontrol as it is an indication of the value of our technology and gives us credibility and a competitive advantage in the marketplace," stated Bruce Rowlands, President and Chief Executive Officer of Eurocontrol Technics Group. "We are pleased to have received this important patent grant from the United States Patent Office, which will support the commercial discussions we have ongoing," added Mr. Rowlands.
Eurocontrol's innovative Petromark™ marking solution addresses two major problems in the oil industry - combating the trade in illicit fuels and providing brand protection for large oil companies. As the price of oil has increased substantially, such problems have become a higher priority for government and corporate officials to address. Petromark's™ oil marking technology assists with combating fuel adulteration and dilution, which in turn helps governments and their agencies collect additional tax revenue.
About Eurocontrol Technics Group Inc.
Eurocontrol Technics Group Inc. has three wholly owned subsidiaries GFI, Xenemetrix and XwinSys Ltd. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through the proprietary Petromark™ integral system, GFI has developed a four-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's ten-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Group Inc. allows management to pursue numerous anticipated oil marking opportunities in 2012 and in years to come. XwinSys Ltd. is currently developing intellectual property that will combine 2D and 3D image processing technology, from Brossh Inspection Systems Ltd. of Israel, with Eurocontrol's subsidiary Xenemetrix Ltd's Energy-Dispersive X-ray Fluorescence ("EDXRF") technology.
Cautionary Note Regarding Forward-Looking Information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of each of Eurocontrol, its projects and partnerships, the timing of the future launch of new systems, the effect the patent can be expected to have on Eurocontrol's performance and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Eurocontrol, Xwynsis and Xenemetrix to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; achievement of synergies; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the industrial industry; and, delays in obtaining governmental approvals or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Eurocontrol does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER 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.