2nd Dec 2010 07:00
For Immediate Release 2 December 2010
Environmental Recycling Technologies plc
("ERT" or the "Group")
Issuance of European Patent
Environmental Recycling Technologies plc (AIM: ENRT), announces that is has received a notice of intention to grant (notice of allowance) of European Patent Application Number 02713536.7 entitled 'Process for Forming Plastic and for Forming Plastic and articles made therefrom.
This patent is ERT's core patent in Europe for the Powder Impression Moulding (PIM) process which is a process capable of converting mixed waste plastics into a wide range of commercially viable products.
ERT currently has core patents already granted in the UK, Australia, China, New Zealand, Canada, and Singapore
ERT owns these patents, which are process patents, which are licensesed out to manufacturers of products who pay an upfront licence fee plus annual royalties based on production to ERT. Licensees can grant sub-licences, from which ERT would also receive pass through royalties on every product sold.
ERT recently announced that 2K Manufacturing, a master licensee of the PIM process, has begun commercial production of EcoSheet, an environmentally sustainable alternative to plywood made from recycling waste plastics. This confirmed the commercial viability of the PIM Process in large scale manufacturing.
Ken Brooks, Chairman of ERT plc commented:
"There is a very large range of industry sectors and products for which PIM licences can be granted. The receipt of this notice will enhance our ability to grant licences and sub-licences internationally, an important part of our growth strategy."
ends
For further information: | |
Environmental Recycling Technologies plc | 0845 071 1394 |
Ken Brooks, Executive Chairman Roger Baynham, Managing Director | |
Evolution Securities | 020 7071 4300 |
Tim Wolledge Bobbie Hilliam | |
Weber Shandwick Financial | 020 7067 0700 |
Nick Oborne Alex Brown John Moriarty |
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