NEWS!! FOCS.Monday April 13, 8:01 am Eastern Time
Company Press Release
SOURCE: FCI Environmental, Inc.
FiberChem and Gilbarco Announce Commercial
Agreement
LAS VEGAS, April 13 /PRNewswire/ -- FiberChem, Inc. (0TC Bulletin Board: FOCS)
through its wholly owned subsidiary FCI Environmental, Inc. (FCI), and Gilbarco, Inc.
announced the signing of a Commercial Agreement for Hydrocarbon Sensor On-Board
Refueling Vapor Recovery (ORVR) Certification. This sensor is based on FCI's
Sensor-on-a-Chip(R) technology developed in conjunction with Texas Instruments, Inc.
California Air Resources Board (CARB) is currently developing procedures to evaluate
Stage II vapor recovery system compatibility with ORVR vehicles. The Agreement commits
the companies to a joint effort to pursue certification of Gilbarco's product lines affected by
the proposed new standards. Upon completion of the certification process, FCI would gain
access to a majority of the market.
Geoff Hewitt, Chairman and CEO of FCI, said, ''Over the last two years, we have
undertaken a challenging technology development program for Gilbarco which has
resulted in the opportunity we see today. The expectation is that CARB will have approved
procedures by May, which would result in a November 1998 effective date if the schedule is
met.''
Craig Hartsell, Manager, Product Development for Gilbarco, said, ''We have been pleased
with the way FCI has worked with us on this development project and with their patience
with the regulatory process. Successful completion of this certification process would
position FCI's technology to be a major supplier to this market.''
This news release includes forward-looking statements that involve risks and uncertainties,
including the timely development and acceptance of new products, final promulgation and
enforcement of regulations, the impact of competitive products and pricing, the timely
funding of customer's projects, customer payments to the Company and the other risks
detailed from time to time in the Company's SEC reports.
FiberChem, Inc. develops, manufacturers, markets and licenses fiber optic chemical
sensors (FOCS(R)) that produce continuous real-time information on environmental
pollutants in the air, water and soil.
SOURCE: FCI Environmental, Inc. |
