SOURCE: EPOD Solar, Inc.

December 21, 2009 11:12 ET

EPOD Solar, Inc. Announces LOI With Nanotech Industries Inc.

KELOWNA, BC--(Marketwire - December 21, 2009) - EPOD Solar, Inc. (OTCBB: EPDS) announced today the signing of an LOI with Nanotech Industries Inc. for a contemplated major transaction between the two companies.

For clarity please note that (OTCBB: EPDS) EPOD Solar, Inc., which is incorporated in Nevada ("EPOD Nevada"), is a completely separate entity from EPOD Solar, Inc., an operating solar business incorporated in British Columbia, Canada ("EPOD Canada"). EPOD Solar had previously changed its name from Allora Minerals to EPOD Solar in anticipation of closing a transaction with EPOD Canada. Both EPOD Solar and EPOD Canada have since terminated any and all business relationships with each other whereby all assets, including Optisolar Technologies, Inc., that were previously to be acquired by EPOD Nevada, shall remain in EPOD Canada.

Nanotech Industries 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, is cost competitive, broadens areas of polyurethane applications and makes economic sense.

The pervasive use of polyurethane in products worldwide has created serious environmental problems, health hazards, and accelerated the potential for major lawsuits. Nanotech has turned a patented breakthrough invention of Non-Isocyanate polyurethane into the sale of multiple product lines providing companies and their suppliers a solution that makes business sense.

According to the terms of the LOI, the parties must enter into mutually agreeable definitive agreements necessary for the Transaction within thirty days of signing of the LOI. The closing of the transaction will be contingent upon each of the parties obtaining all necessary consents and approvals. Upon closing EPOD will change its name to Nanotech Industries Inc.


This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of EPOD Solar, Inc. to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. EPOD Solar, Inc. undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in EPOD Solar, Inc. expectations.

Contact Information

  • Contact:

    Aspire Clean Tech Communications, Inc.
    Todd Pitcher