Anpath Group, Inc. and Clariant Sign Letter of Intent (LOI) To Introduce New Biocide to the Oil & Gas Industry
MOORESVILLE, N.C., Feb. 25 /PRNewswire-FirstCall/ -- Anpath Group, Inc. (OTC Bulletin Board: ANPG), reported today that its wholly-owned subsidiary, EnviroSystems, Inc. (ESI) has signed a Letter of Intent with Clariant Corporation focused on the distribution of its new oil & gas biocide, GeoTru™ Concentrated Biocide.
GeoTru™ is an environmentally friendly biocide designed to control microorganisms including bacteria, fungi, and algae in oil and gas well stimulation fluids used for hydraulic fracturing and related oil and gas field water systems. GeoTru™ will control bacteria in drilling applications and serves to prevent the degradation of fracing fluids and gels used in well stimulations. The product is easy to handle and ship because of its favorable toxicity profile compared to other biocides used for the same purpose, it is not reactive with typical down-hole chemistries, and is equipment-compatible.
Clariant Corporation (www.clariant.com) is a world-leader in specialty chemicals. Headquartered in Houston, Texas, Clariant's Oil & Mining Services Business Unit (www.oil.clariant.com) is a leading provider of products and services to the oil, refinery and mining industries.
The details of the Letter of Intent were not disclosed but the Company stated the LOI was a precursor to a more definitive agreement with Clariant, based on due diligence to be completed by both companies. J. Lloyd Breedlove, Anpath Group, Inc. President & CEO stated, "We have a long-term relationship with Clariant Chemical and the opportunity to work with the company to launch our new geobiocide is very appealing."
About Anpath Group, Incorporated:
Anpath Group, Inc. (Anpath), through its wholly-owned subsidiary EnviroSystems, Inc., produces cleaning and disinfecting products that it believes will help prevent the spread of infectious microorganisms while minimizing the harmful effects to people, equipment or the environment. Visit www.anpathgroup.com for more information.
EnviroSystems, Inc. is focused on safe infection prevention technologies that the company believes will position the company in the forefront of the industry at a time when there is rapidly growing awareness of the critical need to prevent biological risks -- both natural and man-made. Visit www.envirosi.com for more information.
Forward Looking Statements:
This release may contain forward-looking statements, which reflect expectation or belief by Anpath Group, Inc. concerning future events that involve risks and uncertainties. Anpath Group can give no assurance that the expectations reflected in forward looking statements will prove correct and various factors could cause results to differ materially from Anpath Group expectations, including, but not limited to U.S. EPA and state registration of Anpath Group's products, foreign registration of its products, its ability to carry out its business plan, successful development and commercial acceptance of its products, ability to fund development of its technology, the risk that products may not result from development activities, protection of its intellectual property, need for regulatory approvals, and other factors discussed in periodic Anpath Group, Inc. filings with the Securities and Exchange Commission. Forward-looking statements are qualified in their entirety by the above cautionary statement. Anpath Group assumes no duty to update its outlook or other forward-looking statements as of any future date.
SOURCE Anpath Group, Inc.
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