May 28 2010
Integral Technologies, Inc. (OTCBB:ITKG) (“Integral” or the “Company”) today announces that it has completed a License Agreement for its Patented ElectriPlast™ Technology with a leading provider of system solutions with extensive technical and engineering content (herein “Licensee”) serving aerospace/defense, telecommunications and other international high technology niche markets.
At the request of the customer its name will not be published so as to enhance its competitive advantage in utilizing ElectriPlast™.
Established over 60 years ago, this Licensee will be using ElectriPlast™ to provide highly reliable and durable shielding parts in high voltage interconnectors for military, aerospace, medical and other industrial applications manufactured and sold by the Licensee to fulfill the expectations of its demanding customers. Integral anticipates that the Licensee will begin ordering ElectriPlast™ in the near future to begin production of these parts.
As with other of Integral’s customers, this Licensee had earlier executed an NDA with Integral to allow its development team to become informed of the technology, including the ElectriPlast™ product specifications in order to help them decide on a specific polymer blend. (Currently, Integral has over 350 NDA’s in place with other companies.)
Integral then provided the Licensee samples of ElectriPlast™ plaques molded in an industrial standard size in a square shape 6 by 6 inches with a thickness ranging from 2 to 6 ml. This gave them a quick and easy way to test the electrical characteristics of the blend they chose. Through its manufacturing partner, Jasper Rubber Products, Inc. (“Jasper”), Integral also provided specially blended pellets for the Licensee to do its own molding or extruding to produce its own prototype and conduct its own research and development.
This license was entered into only after the Licensee was satisfied with the chosen application of ElectriPlast™. The License Agreement is a Non-Exclusive Purchase license that allows the Licensee to purchase ElectriPlast™ from Integral for its specific application. The non-exclusive component means that Integral retains the right to license ElectriPlast™ to other companies in the same industry. (Under certain circumstances a customer may enter into an Exclusive Purchase License and/or a Master License with Integral to sub-license the technology to other companies in its industry.)
ElectriPlast™ allows a design engineer the utmost freedom in designing new products or enhancing current designs. Through Jasper, Integral can work with customers who do not have the equipment to do the necessary molding or extruding. At all stages, Integral can assist in the design and review of manufacturing applications and process optimization to meet whatever may be the precise specifications. Testing (electrical and mechanical) of ElectriPlast™ components and applications can then be carried out, followed by customer training and service for design and implementation. Integral also can and has formed joint ventures to co-develop applications for the ElectriPlast™ pellet.
Integral is in negotiations with several other companies to complete additional licenses of its Patented ElectriPlast™ Technology.