ÿÿÿÿNEW YORK--(BUSINESS WIRE)--Jan. 26, 1998--
ÿÿÿÿNew Market-Focused Team for Technology Development
ÿÿÿÿand Licensing Company also Includes Lawrence
ÿÿÿÿMcQuade and Ambassador Maxwell Rabb
ÿÿÿÿFormer Secretary of the U.S. Department of Energy Admiral James D. Watkins was elected a director and chairman of Eurotech Ltd., (NASDAQ:EURO), technology development company that licenses and markets new technologies developed by leading research institutes and individuals in the former Soviet Union and in Israel.
ÿÿÿÿAlso elected to the board were former U.S. Ambassador to Italy Maxwell Rabb and Russian investment expert Lawrence McQuade.
ÿÿÿÿEurotech's new board announced a new management group today. In addition to Admiral Watkins as chairman, the board named Peter Gulko to the position of executive vice president and Bruce Rabb, a partner in the law firm of Kramer, Levin, Naftalis & Frankel, to the position of corporate secretary. The board also announced that it expected to name a new president in the near future.
ÿÿÿÿAdmiral Watkins was named Chief of Naval Operations, the navy's highest command, by President Reagan. He served as Secretary of Energy in the administration of President Bush.
ÿÿÿÿAmong his accomplishments as Energy Secretary were the development of the first comprehensive National Energy Strategy, and the passage of the landmark Energy Policy Act of 1992, the most comprehensive energy legislation ever enacted.
ÿÿÿÿHe also led the massive environmental cleanup and management improvement task force at U.S. nuclear weapons production facilities, and managed the shift from development of cold war technologies by America's national research laboratories to peaceful commercial applications of this advanced scientific knowledge.
ÿÿÿÿHis energy-related board service includes membership on the boards of Edison International, GTS-Duratek, and International Technology Corp.
ÿÿÿÿThe new board and management team has been put in place to take the company from its successful technology development phase to the active licensing and marketing of the primary advanced products that have emerged from that phase.
ÿÿÿÿThe four products on which the new management will initially focus are:
- EKOR silicon-organic compound technology - developed at Kurchatov
ÿÿÿÿInstitute in Moscow and the Euro-Asian Physical Society for the
ÿÿÿÿpurpose of conserving and comprehensively containing ecologically
ÿÿÿÿhazardous solid and liquid radioactive materials. The
ÿÿÿÿradiation-resistant material is designed for use in remediation
ÿÿÿÿprojects in such a severe environment as the one at the Chernobyl
ÿÿÿÿnuclear power plant, and in the transport and disposal of nuclear
ÿÿÿÿwaste. The management of Chernobyl recently invited the company
ÿÿÿÿto work on the site of the damaged reactor to tailor the means of
ÿÿÿÿapplying EKOR to meet the specific needs of the site. Patents
ÿÿÿÿfor EKOR are pending worldwide.
- Non-isocyanate polyurethane - a new type of polymer, this modified
ÿÿÿÿpolyurethane does not contain any of the toxic isocyanates used
ÿÿÿÿin the production of conventional polyurethane. Non-isocyanate
ÿÿÿÿpolyurethane also has lower permeability and greater resistance
ÿÿÿÿto chemicals than conventional polyurethane. Some of its
ÿÿÿÿpotential applications include the manufacture of paints,
ÿÿÿÿplastics, airplane and rocket sealants, construction adhesives,
ÿÿÿÿcoatings, flooring, glues and a wide range of consumer goods.
- Liquid Ebonite - a synthetic liquid rubber covering that
ÿÿÿÿsubstitutes for conventional sheet rubber, is highly resistant
ÿÿÿÿto acids, alkilis and benzene, and can be applied to such fine
ÿÿÿÿstructures such as sieve meshing, sharp edges, small holes or any
ÿÿÿÿother surface where conventional sheet rubber cannot be effectively
ÿÿÿÿapplied. The company believes Liquid Ebonite can be used as a
ÿÿÿÿsuperior protective covering for such products as small diameter
ÿÿÿÿpipelines, pumps, fans, and centrifuge rotors.
- RubCon - an advanced, rubber-based concrete that has high
ÿÿÿÿcompression, bending and tensile strength, and greater resistance
ÿÿÿÿto water and corrosive chemicals than other concretes. RubCon
ÿÿÿÿhas significant potential uses in factory flooring, equipment
ÿÿÿÿthat operates in aggressive chemical media such as galvanic and
ÿÿÿÿelectrolysis "baths," building foundations, concrete pipes and
ÿÿÿÿother underground structures, seismic reinforcement materials,
ÿÿÿÿand outdoor structures such as bridges.
ÿÿÿÿIn addition to its principal technologies, Eurotech Ltd. is participating in the development of a commercially-feasible process to separate high temperature superconducting (HTSC) metal powders.
ÿÿÿÿIt is also a participant in other projects to develop and bring to market powdered metallurgy technology, continuous combustion synthesis technology, nickel-cobalt recovery, waste-to-energy technology, and automated parking garages.
ÿÿÿÿEurotech Ltd. was founded in May, 1995. Dr. Randolph A. Graves, Jr. served as the company's first Chair and CEO, and his valuable contributions were recognized today by the new board. |
