Eurocontrol Technics Inc.
TSX VENTURE : EUO

Eurocontrol Technics Inc.

May 05, 2009 12:37 ET

Eurocontrol Announces Petromark™ Receives Brazilian Regulatory Approval

Commercialization to Begin Immediately

TORONTO, CANADA--(Marketwire - May 5, 2009) - Eurocontrol Technics Inc. (TSX VENTURE:EUO), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification and energy security technologies, through its wholly owned subsidiary GFI Distribuicao e Comercio de Sistemas de Marcacao Ltda., today announced the company has received the approval of ANP (Brazilian Oil, Natural Gas and Biofuel Regulatory Agency) for the marketing of Petromark™ in Brazil. GFI was approved on all technical and administrative requirements. GFI is now permitted to supply its Petromark™ solution to all Brazilian solvent producers and importers under the solvent marking program established by ANP.

The Brazilian market size is estimated to be approximately US$35M annually. Eurocontrol's, ISO 17025 accredited, covert molecular marking technology Petromark™ is now an approved marking technology in this marketplace. The market opportunity Eurocontrol intends to focus on is in Brazil's solvent industry.

"We are very pleased to have achieved this important corporate milestone and look forward to commercial operations in Brazil in the future," stated Bruce Rowlands, President and Chief Executive Officer, Eurocontrol Technics. "We are confident Petromark™ can make a significant contribution towards the control of adulterated and illegitimately commercialized oil and gas in Brazil," added Mr. Rowlands.

There is growing demand worldwide for advanced covert molecular marking systems that do not use visible dyes, inks or reagents. Industry requirements currently are better served through quantitative and covert technologies that can produce forensic quality results in the field such as Petromark™. The raising global awareness of the illicit trade in hydrocarbons, pipeline disruptions, piracy and the vulnerability the energy industry faces operationally these days; from oil tankers to refineries to gas stations, drives the need for these 21st century technologies.

Eurocontrol's innovative Petromark™ marking solution addresses two major problems in the oil industry - combating the trade in illicit fuels and providing brand protection for large oil companies. As the price of oil has increased substantially, such problems have become a higher priority for government and corporate officials to address.

About Eurocontrol Technics Inc.

Eurocontrol Technics Inc. through its wholly owned subsidiary Global Fluids International S.A. ("GFI") is one of the world's pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through its proprietary Petromark™ integral system, GFI has developed a 4-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's 5-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Inc. allows management to pursue numerous anticipated oil marking opportunities in fiscal 2007 and in years to come.

Cautionary Note Regarding Forward-looking Information

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the future operating and financial performance of the Company and the impact of this agreement on the performance of the Company. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. In particular, past success or achievement does not guarantee future success. Factors that could cause actual results to differ materially include, among others, competition risks, execution risks, country risks, and lack of a history of profitability. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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