"We are looking forward to working with our partner in Canada to penetrate this large potential market for our coatings products," said Joseph Kristul, CEO, Hybrid Coating Technologies. "This licensing agreement is an important step towards securing multiple partners in different parts of the world as we continue to execute on our global marketing plan. We are presently in discussions with multiple other potential partners for other territories in the world."
The combined revenue for the Canadian industrial and specialty coatings industry is estimated at $1 billion per year said the company.
Hybrid Coating Technologies Inc. is based in San Francisco-Ca. and is the exclusive licensee of Green Polyurethane coatings and paint, the world's first-ever patent protected polyurethane-based coatings and paint products, which eliminate toxic isocyanates from the entire production process and is licensed by Nanotech Industries, Inc.