LAKE PARK, Fla., June 19, 2012 /PRNewswire/ -- In the first
quarter of 2012 The Renewable Corporation executed an Asset
Purchase Agreement with SMT Manufacturing of Palm Coast, FL and its patent owners. The
Agreement was executed using common shares of The Renewable
Corporation to acquire the assets. Anthony
A. Gedeon, President of SMT and Samuel J. Ferguson, Director of Research &
Development were retained as executive employees of EcoSmart
Surface Technologies and EcoSmart Coating Technologies both newly
formed wholly owned subsidiaries of the Company. The Board of
Directors appointed Mr. Brian
Ireland, a successful custom home builder in Palm Beach County, FL as President of the
EcoSmart Companies.
(Logo:
http://photos.prnewswire.com/prnh/20120619/NY27348LOGO )
Additionally, the Company has engaged Dr. Yin-Xiong Li, MD, PhD, Professor, as an Advisory
Board member. Dr. Li is currently the Chief Medical Officer for the
Guangzhou Institutes of Biomedicine and Health, Chinese Academy of
Sciences. He has perfected and patented a method to prevent DNA
damage in the skin from UV and radiation. His work has been
developed into Renewable's DNA sun block lotion. The lotion is
expected to be used to lessen the risk of skin cancer from sunlight
and to act as protection against skin damage during radiation
procedures. The new product line including acne treatment,
anti-aging cream and skin rejuvenator will be available to
consumers in the immediate future.
Gerald C. Parker, Chairman of
Renewable stated, "We are pleased to expand Renewable's corporate
footprint through the acquisition of these sustainable
manufacturing and distribution assets including cutting edge
flooring and coating solutions, proprietary technology and several
extraordinary executive employee owners. We believe this
acquisition will enhance the Company's original E3 Cubed
distribution platform by providing superior cost effective
solutions to a host of today's environmentally complex industrial
and healthcare needs. We encourage our shareholders and interested
parties to view our newly released websites and links to the
Company's expertly prepared Executive Summary."
About EcoSmart Surface Technologies
EcoSmart Surface Technologies, a wholly owned subsidiary of The
Renewable Corporation Inc., has developed an exciting new
alternative in decorative floor surface coverings. Innovative and
unique process (patents pending) achieve a highly desirable
appearance that's extremely durable, also provides superior quality
and performance, and offer a more environmentally friendly choice
than conventional flooring options. EcoSmart Surface technologies'
products and processes can even seal and encapsulate hazardous
materials such as asbestos, and place it in a permanent chemical
bond. Application also requires less energy consumption and is
safer than conventional processes. Interior and exterior flooring,
countertops and many other horizontal surfaces can all be enhanced
using these new methods.
About EcoSmart Coating Technologies
EcoSmart Coating Technologies, a wholly owned subsidiary of The
Renewable Corporation, manufactures and distributes a substantial
portfolio of nano-technology glass coatings applicable to virtually
every industry for corrosion protection, self cleaning, self
sterilization, slip resistance, chemical residue, anti-graffiti,
energy and cosmetic improvement. The coatings can be used on
virtually any surface, creating the properties of glass, no matter
what is coated. Their established and expected uses cover a
broad range of markets, including the marine and automotive
industries, construction, and the medical field, and encompass
industrial plants and individual consumers. Several of the products
used are unique. They provide additional performance benefits
traditional options cannot offer such as resistance to sunlight
degradation, self-cleaning, oxidation prevention and rapid return
to use. Innovative, customized formulae and site-specific
solutions, as well as ease of application and considerable
long-term savings are also highly valued features.
About The Renewable Corporation
The Renewable Corporation (TRC, OTC-PINK: RNWB) was established
in 2004, adopted its present name in 2008, and is based in
Lake Park, Florida. It develops
and supplies products, services, and technologies that use
efficient, renewable resources. TRC knows there is significant
interest in clean, green, and lean methods that offer superlative
quality at a cost that is a reasonable alternative to traditional
choices, and will have a less hazardous impact on the environment
and human health.
The Renewable Corporation family of companies integrates
sustainable manufacturing and distribution with cutting edge
research and proprietary technology to provide the most advanced
line of products and services available. TRC actively seeks out
partner companies and individuals that are engaged in similar,
forward leaning efforts. The company encourages creative synthesis
and the inspired application of ideas in unexpected places.
Discovering new solutions to existing and anticipated problems is
the corporation's primary goal. The Renewable Corporation portfolio
already contains multiple patents and patented products.
Continued support for national manufacturing and small business
is also at the heart of The Renewable Corporation charter. TRC
believes that innovative individuals and businesses will invigorate
our economy and drive sustained growth into the future as the
knowledge continues to evolve. We believe that our products,
processes, and services will create many jobs, both at the
individual and corporate level.
The Renewable Corporation management has assembled an
exceptional leadership team to establish the company's position at
the forefront of environmentally friendly business, and to guide
its efforts. Their expertise includes new business development and
financing, international sales and marketing, industrial
renovation, molecular biochemistry, and bio-technology.
Legal Notice:
This press release may contain forward-looking statements,
particularly as related to pro forma financial statements, earnings
estimates and business expectations, within the meaning of Section
27A of the Securities Act of 1933 and Sections 21E of the
Securities Exchange Act of 1934, and are subject to the safe harbor
created by these sections. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, goals, assumptions or future events
or performance are not statements of historical fact and may be
"forward looking statements." Forward looking statements are based
on expectations, estimates and projections at the time the
statements are made that involve a number of risks and
uncertainties which could cause actual results or events to differ
materially from those presently anticipated. These forward-looking
statements are only made as of the date of the press release and
Technology River Investments and the companies discussed do not
undertake any obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
Corporate Contact Information:
The Renewable Corporation
1313 South Killian Drive
Lake Park, FL 33403
Gary D. Alexander, Corporate
Secretary - Investor Relations
www.TheRenewableCorp.com
G.Alexander@TheRenewCorp.com
Phone: 772-380-4320 x1
SOURCE The Renewable Corporation