4th Oct 2007 16:10
Environmental Recycling Tech. PLC04 October 2007 This announcement replaces the announcement released today at 07:00, under RNSnumber 1145F, due to an incorrect spelling of AeroPro. 4th October 2007 Environmental Recycling Technologies plc (formerly 3DM Worldwide plc) Exclusivity Option taken by AeroPro Environmental Recycling Technologies plc ("ERT" or "the Company") (AIM: ENRT),is pleased to announce an extension of its agreement with AeroPro Industries Incof California USA ("AeroPro"). AeroPro is already a non-exclusive licensee for the use of the powder impressionmoulding ("PIM") process with regard to certain military applications. AeroProand ERT's USA representative, Global Tech Inc, are working closely with the USADepartment of Defense. As a result of this collaboration AeroPro has purchased an option from ERT for$250,000 (payable in instalments over the next 12 months) to convert itsnon-exclusive licence to an exclusive licence in the future. There would be nofurther consideration payable if the option is exercised, other than royaltiesof in accordance with the original licence terms. The licence covers the use ofanti ballistic material in products and components produced in NAFTA using thePIM process. Given the military application ERT is constrained as to what further detail itcan announce. In particular, the precise technical application remainsconfidential; however ERT is pleased to report success so far on the developmentprogramme being undertaken by AeroPro and GTI. Ken Brooks the Chairman of ERT said:- "I am very pleased that the USA military applications work has progressed to thenext stage. We are very pleased to be associated with this prestigiousDepartment of Defense grant backed project and we are very pleased to see itsucceeding". ---ENDS--- For further information: Environmental Recycling Technologies PlcNiall Mackay (CEO) 01993 779 468 Evolution SecuritiesFergus Marcroft 0207 071 4300 GTH Media RelationsJade Mamarbachi & Toby Hall 0207 153 8035 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ENRT.L