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• Ecology Coatings Signs Development Agreement with Major U.S. Tobacco Company 

Market Size (2007): Five Trillion Cigarettes Produced Worldwide; 330 Billion Cigarettes Produced Within the U.S. (1)
Jump to full article: PR Newswire, 2009-08-24
Author: SOURCE Ecology Coatings, Inc.

Intro:

Ecology Coatings, Inc. (OTC Bulletin Board: ECOC), a leader in the discovery and development of nanotechnology-enabled, ultraviolet-curable advanced coatings, today announced that it has signed a collaboration agreement with a major tobacco company for the application of its technology for producing "fire standard compliant" (FSC) cigarettes. FSC cigarettes are designed to meet government reduced ignition propensity testing standards. Ecology has filed a patent application with the U.S. Patent and Trademark Office for its technology.

The agreement establishes the framework under which the two companies plan to test and commercialize FSC cigarettes using Ecology Coatings' unique paper coating technology. Milestone payments will be made to Ecology Coatings as predefined development and testing milestones are met. If those payments are met, royalty payments will commence with market introduction and product sales.

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