Aug 12 2010
China Green Material Technologies, Inc. (OTC Bulletin Board: CAGM, or the "Company"), a Chinese leader in developing and manufacturing starch-based biodegradable containers, tableware and packaging materials, today announced progress on a patent application covering the industrial production method for its biodegradable material.
Specifically, the Company recently received notice from the State Intellectual Property Office of PRC (SIPO) that the Company has successfully submitted the required documents to enable the patent application to move to the review stage. While there is no assurance that SIPO will ultimately grant the patent, the review stage is the final stage for securing approval. The Company received the underlying intellectual property rights in December 2009 from the inventors, Zhonghao Su and Yingjie Qiao, the Company's Chairman, Chief Executive Officer and Founder and its Vice Chairman and Technical Director, respectively.
"A key component of our success has been our ability to develop innovative and high quality products through proprietary production processes," said Mr. Zhonghao Su, Chief Executive Officer. "By inventing and deploying these processes, we intend to drive our production costs lower, while introducing new products, entering new markets and further strengthening our brand name. This is another example of the progress we are making in establishing China Green Material Technologies as a leader in the fast-growing environmentally friendly consumer products industry."