DELTA, BC, Feb. 23 /CNW/ - George Graham, President of ATI AirTest Technologies Inc. ("AirTest", TSXV: AAT) is pleased to announce the formation of a new subsidiary company Clairtec Inc. ("Clairtec") Clairtec will focus on the development, marketing and production of infrared sensors incorporating the breakthrough innovation discovered by Airware Inc. which was licensed to AirTest in November, 2009. AirTest will continue to market this revolutionary technology to its existing market, however Clairtec will be able to access a multitude of opportunities for this unique gas sensor technology.
AirTest will assign the License Agreement with Airware to Clairtec. Initially, AirTest will be the sole shareholder of Clairtec with 20 million shares being issued to AirTest. Clairtec is in the process of confirming its initial financing which will include the necessary capital to reimburse AirTest for all expenses to date related to the maintenance of the License Agreement and support of the new technology product development.
AirTest president George Graham and Vice President Mike Schell have been devoting much of their time ensuring the development of the new technology is progressing as set out in a schedule prepared in early December following the signing of the Exclusive License Agreement with Airware in early November, 2009. Mike Schell has also had considerable interaction with several potential customers for the new Airware technology products. AirTest will be training new and existing personnel to take over the responsibilities now addressed by Mike Schell, and although Mike will be available to support the AirTest sales program as needed, most of his focus going forward will be on the Clairtec sales and marketing program.
Many markets for Clairtec's new sensor technology have been identified, and discussions with potential customers have progressed to the point where three companies have committed to work with Clairtec as they develop products for these companies' specific application. Known applications based on experience to date indicate a potential global market for Clairtec sensors including formaldehyde, carbon dioxide, dew point, hydrocarbons, refrigerants, carbon monoxide, nitrogen dioxide and other greenhouse gases to be an estimated $13.2 Billion. Potential customers include manufacturers of air handling equipment, dehumidification equipment, appliances, hot water heaters, refrigeration equipment, building control systems and environmental monitoring systems.
The AirWare(TM) technology represents a breakthrough in the ability to cost-effectively measure a variety of gases using a maintenance free sensor design that has a long life (7-15 years), does not require calibration, and is immune to temperature variation. In a review of this technology by Oak Ridge National Laboratories, a major US government research facility, it was concluded, "this technology addresses the central weakness in NDIR (non dispersive infrared) sensors - calibration stability." According to Mike Schell of Airtest "The ability to eliminate calibration as a factor in gas sensing significantly reduces the total operating cost of this technology and makes it now suitable to be integrated as a control or safety component into a wide variety of product applications where a long maintenance-free product life is essential. This includes applications for commercial, industrial, and consumer products as well as the growing field of environmental and greenhouse gas monitoring/verification."
About AirTest: AirTest Technologies (www.airtest.com) is a Green-Tech company specializing in sensors that improve commercial building operating efficiency and at the same time create energy savings. These sensors are all based on technical innovations developed in the last ten years, and comprise a growing second wave of energy saving technologies that will make a significant contribution to the enabling better control of buildings to ensure energy savings and sustainability. AirTest offers its products to leading-edge building owners, contractors and energy service companies targeting the buildings market. AirTest also provides energy cost reduction solutions to building equipment and controls manufacturers who incorporate AirTest sensor components in their products.
About Airware Inc: Airware Inc. (www.airware-inc.com) is a research and development company specializing in the application of custom, non-dispersive infrared gas measurement solutions to a wide variety of commercial, residential and industrial gas sensing applications.
Statements about the Company's future expecations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
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.
SOURCE AIRTEST TECHNOLOGIES INC.
For further information: For further information: Mr. George Graham, President, Phone: (604) 517-3888, Fax: (604) 517-3900, Email: firstname.lastname@example.org, Website: www.airtesttechnologies.com