Yesterday, EPOD Solar Inc. announced the signing of a definitive stock purchase agreement with Nanotech Industries International Inc. (NTII). This is for the reverse merger of the two companies. The previously announced stock purchase agreement entered into with Nanotech Industries dated January 31, 2010 has been cancelled as of August 16, 2010.
NTII is a San Francisco based Company, which manufactures and sells a unique green product line. This line of products is environmentally friendly, completely eliminates toxic isocyanates from polyurethane, increases quality and is cost competitive.
NTII’s technology focuses on the polyurethane industry and the floor coatings industry. This represents a total addressable market for NTII of more than $30 billion. Nanotech Industries International is the only company worldwide to date that offers true non-isocyanate based polyurethane products.
The pervasive use of polyurethane in products globally has created serious environmental problems, health hazards, and accelerated the potential for major lawsuits due to the presence of isocyanates in polyurethane. Isocyanates are powerful irritants to the mucous membranes of the eyes and gastrointestinal and respiratory tracts.
According to publications from the U.S. Environmental Protection Agency, the Center for Disease Control and the U.S. Department of Labor, Occupational Safety and Health Administration, the main effects of hazardous exposures to isocyanates are occupational asthma and other lung problems such as pulmonary edema. In smaller amounts, isocyanates can also sensitize workers, making them subject to severe asthma attacks if they undergo exposure again. There have been reports of death from severe asthma in some sensitized subjects. Sensitization may happen within days of exposure or take months or years to develop.
Headquartered in San Francisco, California, Nanotech Industries International Inc. is a company that manufactures and sells Green Polyurethane™ Binder and Green Polyurethane® Monolithic Floor Coating. The Company focuses on the industrial and specialty coatings market.