Ecology Coatings signs letter of intent with USAutoPARTS

February 6, 2008 – Nanomaterials developer Ecology Coatings Inc. (OTCBB: ECOC), has signed a letter of intent with the U.S. Automotive Partnership for Advancing Research & Technologies (USAutoPARTS) to participate in a nonprofit automotive research initiative program.

USAutoPARTS, which is to be located in a 56,000-square-foot research and development facility in Shelby, Mich., and donated by Delphi Corp., has invited a number of companies to locate a portion of their R&D organization within the facility.

Funding for the R&D facility will be obtained from companies in the automotive industry, foundations, government grants and other financial resources. The participating companies will focus their research on three areas: lightweight materials, electric and electronic thermal management systems, and carbon emissions control.

No date has been set for completion of the fundraising or for USAutoPARTS to move into the Delphi facility.

“With the increased market and regulatory pressure to improve fuel efficiency, there is a need to cost-effectively lower vehicle weight without sacrificing safety,” said Ecology Coatings CEO Richard Stromback.

“Lightweight polymer and polymer composites, metal matrix composites, and bio-based materials are being developed to replace certain heavy metal components currently used in the manufacture of vehicles.”

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.