EPOD Solar to Merge with Polyurethane Floor Coating Manufacturer

EPOD Solar Inc. (OTCBB:EPDS), announced today the signing of a definitive stock purchase agreement with Nanotech Industries International Inc. ("NTII" or the "Company") for the reverse merger of the two companies.

NTII is a San Francisco based Company which manufactures and sells Green Polyurethane™ Binder and Green Polyurethane® Monolithic Floor Coating, a green product line which is environmentally friendly, completely eliminates toxic isocyanates from polyurethane, increases quality and is cost competitive.

The Company's technology is focused on the polyurethane industry and the floor coatings industry with a total addressable market for NTII of over $30 billion. The pervasive use of polyurethane in products worldwide has created serious environmental problems, health hazards, and accelerated the potential for major lawsuits due to the presence of isocyanates in polyurethane. Nanotech Industries International is the only company in the world to date that offers true non-isocyanate based polyurethane products.  

Isocyanates are powerful irritants to the mucous membranes of the eyes and gastrointestinal and respiratory tracts. According to publications from the U.S. Environmental Protection Agency, the Center for Disease Control and the U.S. Department of Labor, Occupational Safety and Health Administration, the main effects of hazardous exposures to isocyanates are occupational asthma and other lung problems such as pulmonary edema. In smaller amounts, isocyanates can also sensitize workers, making them subject to severe asthma attacks if they are exposed again. Death from severe asthma in some sensitized subjects has been reported. Sensitization may happen within days of exposure or take months or years to develop.

The previously announced stock purchase agreement entered into with Nanotech Industries dated January 31st, 2010 has been cancelled as of August 16th, 2010.

Source: http://epodsolar.com/

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