Hybrid Coating Technologies Enters US SPF Market with Nonisocyanate Polyurethane
San Francisco CA, May 9, 2014 — (MARKET WIRE) – Hybrid Coating Technologies Inc. (HCTI: OTCBB) is pleased to announce that it is entering the global insulation market, which, according to a report by the research group Freedonia, will exceed $60B by 2016. Hybrid has acquired the exclusive global rights to Hybrid Nonisocyanate Polyurethane (HNIPU) Spray Foam from Nanotech Industries, Inc.
The Freedonia report on World Insulation also reports that, “The fastest growth is expected in the foamed plastic insulation segment, as these products will be used more frequently in construction applications because of their high-insulation values, allowing them to capture market share from fiberglass and mineral wool insulation.” The spray polyurethane foam (SPF) industry is predicted to grow at 6-7% globally and 6.5% in the US.
Hybrid currently has a pourable version of its novel foam technology, which has tested to have similar insulation and mechanical values to conventional SPF used on the market today. However, Hybrid’s material does not possess dangerous isocyanates used in current spray foams. Isocyanates are powerful irritants to the mucous membranes of the eyes and gastrointestinal and respiratory tracts. Exposure can lead to a host of respiratory ailments and even death from prolonged exposure.
Hybrid’s foam has several distinct advantages over conventional foam including the following:
• There is no need for costly and time-consuming safety equipment such as respirators, which are
required when using conventional SPF
• When burned, foam made with isocyanates emits hydrocyanic acid (cyanide), which is extremely
poisonous. Hybrid’s SPF avoids this possibility because it does not use isocyanates
• The lack of isocyanates and eco-friendly chemistry of Hybrid’s product make it a prime candidate,
not just for commercial and industrial applications, but for home insulation, which is predicted to be
the fastest growth segment in the industry
• The regulatory environment is making a dramatic shift toward restricting the use of isocyanates: The
US EPA, the US Department of Labor and the state of California have all created new regulations and national enforcement programs against the use of isocyanates. Most recently, California’s Department of Toxic Substances Control (DTSC) has selected isocyanates from a list of 1,100 toxic components that it will focus on with the goal of potentially banning them altogether within the next two years.
Hybrid is the only company to date that makes commercially available polyurethane without using toxic isocyanates. “We have a tremendous opportunity with our nonisocyanate polyurethane technology as we enter the polyurethane spray foam industry,” said Joseph Kristul, President and CEO of Hybrid. “As the regulatory environment quickly changes and forces the industry to seek out nonisocyanate polyurethane alternatives, our technology is well positioned to be at the forefront of this change.”
Hybrid’s patented technology is the only formulation in the world today that produces commercially available polyurethane without using any isocyanates throughout the entire production process and without compromising product quality and durability.
Hybrid Coating Technologies Inc. Elena Shenkar, Director of Operations 650-491-3449 x 2