Luna (NASDAQ:LUNA) Agreement with UltraTech International
Posted in the Irving Forum
Since: Sep 13
#1 Nov 4, 2013
Company grants exclusive license to UltraTech International to market repellent that protects clothing from liquids
ROANOKE, Va., Nov. 4, 2013 –(CRWE Press Release)- Luna Innovations Incorporated (NASDAQ: LUNA) today announced an agreement granting UltraTech International Incorporated an exclusive license to commercialize Luna’s new textile repellent technology that can protect first responders from pathogens and industrial workers from contaminants, as well as address the common problem of keeping fabric clean.
Under the agreement, Luna will license exclusive rights to UltraTech to commercialize the technology; while UltraTech will bring it to production and market it through its global sales channels. The commercialization potential for the technology is broad, as it may be sold as a standalone product that can be applied to textiles or as treated fabric with the technology embedded.
The proprietary chemical technology uses a nanostructured textile coating to create an omniphobic treatment that repels both water- and oil-based liquids so they roll off without penetrating the underlying fabric. This technology provides protection against contaminants and can also make clothes last longer and reduce laundering – a potentially significant cost savings for both households as well as large organizations such as the U.S. military and oil & gas operations.
Full press release at http://crwepressrelease.com/2174/news-by-cate...
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