Advanced Engineering 2019

Eurotech Ltd Commercialization Process Accelerates

20 September 2000

Eurotech Ltd, the U.S.- based developer of emerging technologies, will see revenues grow over the next three quarters as a result of management's increased emphasis on commercialization of its core technologies. Early next year, the company will begin realizing revenue from the sale and application of EKOR, its advanced composite for the containment of nuclear waste. Eurotech is now completing, on schedule, the technology transfer that will allow EKOR to be produced in the U.S. There are currently eleven U.S. Department of Energy (DOE) sites where the total cost of containment is estimated at more than $1billion. "As a new player in this market, we will have to begin with projects that demonstrate the advantages and range of applications we have with EKOR," notes Jeff Stephen, Eurotech's Chief Operating Officer, "but we expect to see EKOR earn a significant share of the market by the second half of 2001." In August, the Ukraine government certified EKOR for commercial application at Chernobyl. EKOR has demonstrateduniqueperformanceadvantages over other material used there in preventing the spread of radioactive waste. Field tests (for which Eurotech will be reimbursed) are now underway to determine the safest way to apply the material in specific highly toxic environments at Chernobyl. The work done to date puts EKOR in a very strong position once the bidding process for contractors and suppliers gets underway. This process, complicated by the fact that funds come from international lending agencies, is expected to take several months. "We expect to see EKOR used widely at Chernobyl sometime next year, but it is still too early to tell when," notes Stephen. Eurotech is also exploring opportunities for EKOR, including direct product sales and licensing, in other countries. These opportunities could produce revenues in the coming year equal to or greater than those from U.S. applications. EUROTECH, Ltd. works with scientists and research institutes in Russia, Israel and other countries to develop and commercialize innovative technologies that have widespread or critical application.

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