February 3, 2012 — Hanwha L&C of Korea signed a letter of intent (LOI) to obtain manufacturing and distribution rights to ElectriPlast from Integral Technologies Inc. (OTCBB: ITKG) (OTCQB: ITKG), hybrid conductive plastics maker. The LOI is applicable for various parts of Asia.
ElectriPlast is a non-corrosive, electrically conductive resin-based material that can be molded into various shapes and sizes, reducing component weight by up to 40% compared to plastics, rubbers and other polymers. Applications include power electronics, light-emitting diodes (LEDs), connectors, batteries, semiconductors, sensors and antennae, and more.
Independent testing of ElectriPlast, over several months, showed that it met or exceeded Hanwha L&C’s conductivity, shielding (both electric and electro-magnetic) and mechanical strength requirements.
Specifically, the LOI contemplates Integral and Hanwha L&C entering into definitive agreements granting an exclusive license to manufacture and distribute ElectriPlast in Korea. The LOI further contemplates a non-exclusive license to distribute ElectriPlast in China, Japan and Taiwan, as well as a right of first refusal to extend the exclusive license to manufacture in Korea to China, Japan and Taiwan and to make the non-exclusive license to distribute in China, Japan and Taiwan an exclusive license.
The LOI is non-binding and calls for the completion of certain milestones by the parties. Definitive agreements could be executed as early as H1 2012.
Integral Technologies Inc. engages in the discovery, development, and commercialization of electrically conductive hybrid plastics used primarily as raw materials in the production of industrial, commercial and consumer products and services worldwide. Integral is the original researcher, developer and 100% owner of all intellectual property surrounding the ElectriPlast technology, and markets the ElectriPlast product through Integral’s wholly owned subsidiary, ElectriPlast Corp.
Hanwha L&C is part of the Hanwha Group, a global diversified company with nearly $30 billion in annual revenue that operates in three main sectors: manufacturing & construction, finance and services & leisure. Hanwha L&C is in the construction materials field and has expanded into auto lightweight materials, electronic materials, and photovoltaic materials, as well as other high-value pioneering industries.