$HCTI Hybrid Coating Technologies Inc. (OTCQB:HCTI) is pleased to announce that it has entered into an agreement with a major coatings manufacturer ("Licensee"), who sells its products through more than two thousand big box retail locations across the United States, for the development and licensing of an isocyanate free polyurethane coating. Under the terms of the agreement, Hybrid would make certain minor modifications to its existing polyurethane formulation to address certain specific requirements of the Licensee. "As the marketplace becomes more environmentally conscious and as governmental organizations such as the US EPA and the Department of Labor begin to crack down on isocyanates, there is now a need for a high performance coating that is environmentally friendly without compromising on product quality and performance," said Joseph Kristul, president and CEO of Hybrid Coating Technologies, "We are pleased to be collaborating with a major player in our industry and expect to enter into other similar type agreements in the near future."

The development phase of the agreement is expected to take approximately 30 to 45 days to complete, after which time, once the modifications to Hybrid's formulation are successfully completed and accepted, Hybrid will become a supplier and sell its coating products to the Licensee in the territory of the United States. As part of the confidentiality clause in the Agreement, Hybrid is not at liberty to divulge the identity of the Licensee at this time.
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