SOURCE: UltraStrip Systems, Inc.

June 26, 2006 11:14 ET

UltraStrip Signs Exclusive License Agreement With Carnegie Mellon University

STUART, FL -- (MARKET WIRE) -- June 26, 2006 -- UltraStrip Systems, Inc. (OTCBB: USTP), the Stuart, Florida-based technology innovation company for homeland security, marine, disaster relief, and defense applications, announced today it has signed an exclusive royalty free, world-wide license with Carnegie Mellon University of Pittsburgh, PA. The License Agreement includes U.S. Patent 6,792,335 and U.S. Patent Application 20050005812 covering robotic apparatuses, systems, and methods which complement UltraStrip's existing patents for automated coatings removal systems for surface preparation services including removal of coatings and debris, paint stripping, and cleaning of ships, tanks and other steel structures.

Dennis McGuire, CEO and Founder of UltraStrip stated, "This License further strengthens the Company's intellectual property portfolio. It is an important byproduct from our successful development program with Carnegie Mellon and the National Robotics Engineering Consortium ("NREC") which the Company initiated in 1999. From a financial standpoint, the royalty free aspect of the Agreement will improve our bottom line as we expand globally."

"The license not only protects us over the life of the patents, but provides UltraStrip exclusive rights for our coatings removal marketplace as a 'field of use' for them. This fruitful relationship with NREC has not only improved our product, but has strengthened our competitive advantage by erecting an additional barrier to entry into our business," said Stephen Johnson, President of UltraStrip Envirobotic Solutions, Inc.

About UltraStrip Systems:

UltraStrip is a technology innovation company that creates patented and engineered solutions for the defense, homeland security, disaster recovery and global ship repair markets. Our intellectual property includes a portfolio of registered and pending patents, trade secrets, trademarks, and copyrights. UltraStrip has nine registered United States patents all relating to robotic coating removal technology, airplane and automotive paint removal technology. UltraStrip has filed three United States patent applications relating to our water filtration system. In addition, the Company has 411 patent applications pending either actual filings or reserved under the right to seek priority date filing covering our robotic coating removal technology and automotive paint removal technology in numerous countries, including Europe, Asia and the rest of the world. Additional information is available at www.ultrastrip.com

Contact Information

  • Contact:
    Alliance Advisors, LLC
    Thomas Walsh
    646-415-8321

    UltraStrip Systems, Inc.
    Alex Rivera
    772-287-4846