The Renewable Corporation Acquires Assets and Patents of SMT Manufacturing, Inc.
LAKE PARK, Fla., June 19, 2012 /PRNewswire/ -- In the first quarter of 2012 The Renewable Corporation executed an Asset Purchase Agreement with SMT Manufacturing of Palm Coast, FL and its patent owners. The Agreement was executed using common shares of The Renewable Corporation to acquire the assets. Anthony A. Gedeon , President of SMT and Samuel J. Ferguson , Director of Research & Development were retained as executive employees of EcoSmart Surface Technologies and EcoSmart Coating Technologies both newly formed wholly owned subsidiaries of the Company. The Board of Directors appointed Mr. Brian Ireland , a successful custom home builder in Palm Beach County, FL as President of the EcoSmart Companies.
Additionally, the Company has engaged Dr. Yin-Xiong Li , MD, PhD, Professor, as an Advisory Board member. Dr. Li is currently the Chief Medical Officer for the Guangzhou Institutes of Biomedicine and Health, Chinese Academy of Sciences. He has perfected and patented a method to prevent DNA damage in the skin from UV and radiation. His work has been developed into Renewable's DNA sun block lotion. The lotion is expected to be used to lessen the risk of skin cancer from sunlight and to act as protection against skin damage during radiation procedures. The new product line including acne treatment, anti-aging cream and skin rejuvenator will be available to consumers in the immediate future.
Gerald C. Parker , Chairman of Renewable stated, "We are pleased to expand Renewable's corporate footprint through the acquisition of these sustainable manufacturing and distribution assets including cutting edge flooring and coating solutions, proprietary technology and several extraordinary executive employee owners. We believe this acquisition will enhance the Company's original E3 Cubed distribution platform by providing superior cost effective solutions to a host of today's environmentally complex industrial and healthcare needs. We encourage our shareholders and interested parties to view our newly released websites and links to the Company's expertly prepared Executive Summary."
About EcoSmart Surface Technologies
EcoSmart Surface Technologies, a wholly owned subsidiary of The Renewable Corporation Inc., has developed an exciting new alternative in decorative floor surface coverings. Innovative and unique process (patents pending) achieve a highly desirable appearance that's extremely durable, also provides superior quality and performance, and offer a more environmentally friendly choice than conventional flooring options. EcoSmart Surface technologies' products and processes can even seal and encapsulate hazardous materials such as asbestos, and place it in a permanent chemical bond. Application also requires less energy consumption and is safer than conventional processes. Interior and exterior flooring, countertops and many other horizontal surfaces can all be enhanced using these new methods.
About EcoSmart Coating Technologies
EcoSmart Coating Technologies, a wholly owned subsidiary of The Renewable Corporation, manufactures and distributes a substantial portfolio of nano-technology glass coatings applicable to virtually every industry for corrosion protection, self cleaning, self sterilization, slip resistance, chemical residue, anti-graffiti, energy and cosmetic improvement. The coatings can be used on virtually any surface, creating the properties of glass, no matter what is coated. Their established and expected uses cover a broad range of markets, including the marine and automotive industries, construction, and the medical field, and encompass industrial plants and individual consumers. Several of the products used are unique. They provide additional performance benefits traditional options cannot offer such as resistance to sunlight degradation, self-cleaning, oxidation prevention and rapid return to use. Innovative, customized formulae and site-specific solutions, as well as ease of application and considerable long-term savings are also highly valued features.
About The Renewable Corporation
The Renewable Corporation (TRC, OTC-PINK: RNWB) was established in 2004, adopted its present name in 2008, and is based in Lake Park, Florida. It develops and supplies products, services, and technologies that use efficient, renewable resources. TRC knows there is significant interest in clean, green, and lean methods that offer superlative quality at a cost that is a reasonable alternative to traditional choices, and will have a less hazardous impact on the environment and human health.
The Renewable Corporation family of companies integrates sustainable manufacturing and distribution with cutting edge research and proprietary technology to provide the most advanced line of products and services available. TRC actively seeks out partner companies and individuals that are engaged in similar, forward leaning efforts. The company encourages creative synthesis and the inspired application of ideas in unexpected places. Discovering new solutions to existing and anticipated problems is the corporation's primary goal. The Renewable Corporation portfolio already contains multiple patents and patented products.
Continued support for national manufacturing and small business is also at the heart of The Renewable Corporation charter. TRC believes that innovative individuals and businesses will invigorate our economy and drive sustained growth into the future as the knowledge continues to evolve. We believe that our products, processes, and services will create many jobs, both at the individual and corporate level.
The Renewable Corporation management has assembled an exceptional leadership team to establish the company's position at the forefront of environmentally friendly business, and to guide its efforts. Their expertise includes new business development and financing, international sales and marketing, industrial renovation, molecular biochemistry, and bio-technology.
This press release may contain forward-looking statements, particularly as related to pro forma financial statements, earnings estimates and business expectations, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. These forward-looking statements are only made as of the date of the press release and Technology River Investments and the companies discussed do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Corporate Contact Information:
The Renewable Corporation
1313 South Killian Drive
Lake Park, FL 33403
Gary D. Alexander , Corporate Secretary - Investor Relations
Phone: 772-380-4320 x1
SOURCE The Renewable Corporation
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