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Eurocontrol Granted Chinese Patent
TORONTO, ONTARIO--(Marketwire - Sept. 14, 2009) - Eurocontrol Technics Inc. (TSX VENTURE:EUO), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification and energy security technologies, through its wholly owned subsidiary Global Fluids International S.A.
(GFI), today announced the Company has been granted a patent by the Chinese Patent Office entitled "Method and System for Marking and Determining the Authenticity of Liquid Hydrocarbons." The process patent protects GFI's Petromark(TM) fuel marking technology.
"We are pleased to have received this important patent grant from the Chinese Patent Office, which will support the commercial discussions we have ongoing in China today," stated Bruce Rowlands, President and Chief Executive Officer, Eurocontrol Technics. "China is a significant market, which we have been working to develop throughout 2009 with strategic partners." added Mr. Rowlands.
Eurocontrol's innovative Petromark(TM) 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.
About Eurocontrol Technics Inc.
Eurocontrol Technics Inc. through its wholly owned subsidiary Global Fluids International S.A. ("GFI") is one of the world's pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through its proprietary Petromark(TM) integral system, GFI has developed a 4-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's 5-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Inc. allows management to pursue numerous anticipated oil marking opportunities in fiscal 2010 and in years to come.
Cautionary Note Regarding Forward-looking Information
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the future operating and financial performance of the Company and the impact of this agreement on the performance of the Company. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. In particular, past success or achievement does not guarantee future success. Factors that could cause actual results to differ materially include, among others, competition risks, execution risks, country risks, and lack of a history of profitability. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.