RIDGEFIELD, Conn., Sept. 14, 2004 (PRIMEZONE) -- Global Matrechs, Inc. (OTCBB:GMTH) is preparing to submit EKOR, a silicon-based geocomposite radiation resistant coating/foam in response to a request for tenders by the European Bank for Reconstruction and Development (EBRD), who plan to let contracts next year for the construction of a so-called New Safe Confinement, to protect the environment from the radioactive wreckage at the Chernobyl Nuclear Power Plant for the next hundred years.
The shelter plan is financed through the EBRD-managed "Chernobyl Shelter Fund." Twenty-eight donor governments have until now pledged more than 700 million Euros to the fund, and a G7-led initiative is underway to raise additional funds required to complete the program.
In 2000, EKOR was successfully demonstrated to contain radiation from Chernobyl's Unit Four. Robots were used to apply the polymer foam over the fuel containing mass under the reactor. Applications were also made to the radioactive-dust-covered surface areas in the main pumping room, inside the sarcophagus that has been built around the Unit. These surface applications were designed to fix the radioactive dust in place, preventing its dispersion and enabling decontamination of the surfaces.
Numerous substances have been used in attempts to contain radiation from the fuel masses and surrounding radioactive dust at Chernobyl, but most have disintegrated within three or four months from the effects of the radiation. EKOR was successfully applied at Chernobyl in March 2000 and reportedly remains stable and holding.
EKOR was certified by the Ukrainian government following the initial application of the composite proved EKOR was radiation resistant, did not degrade following long term exposure to the radiation, and is capable of withstanding harsh physical, chemical and biological assaults on its structural integrity.
Global Matrechs, Inc. is currently in discussions with a major partner to submit EKOR on their behalf to be included in a comprehensive tender.
Full details: http://www.ebrd.com/projects/psd/index.htm
About The European Bank for Reconstruction and Development:
The European Bank for Reconstruction and Development was established in 1991 when communism was crumbling in central and Eastern Europe and ex-soviet countries needed support to nurture a new private sector in a democratic environment. Today the EBRD uses the tools of investment to help build market economies and democracies in 27 countries from central Europe to central Asia. http://www.ebrd.com/
About EKOR(tm):
EKOR is a silicon-based geocomposite, which is highly radiation-resistant (unaffected by Alpha-radiation; gamma- and beta-radiation up to an absorbed dose of 10 gigarads), and can be provided in a variety of forms (fixative, foam, sealer or grout) to encapsulate and contain radioactive contamination. Additional EKOR characteristics include fire resistance (can withstand mechanical and Hot-cut transient temperature spikes up to 1100 degrees F); corrosion resistant (to strong Base and acid solutions); easily applied to horizontal, vertical, or overhead surfaces, and can polymerize underwater; can form a smooth and wear-resistant surface for ease of decontamination; mixes with waste, which is up to 50% water by weight; adheres to unclean, wet or corroded surfaces and hot metal surfaces up to 120 degrees centigrade; effective up to a 1:6 EKOR-to-radioactive-waste matrix; penetrates openings as small as 1.0 mm; uses minimal equipment in an easy application; and is non-toxic and inert environmentally; plus the spent product is not a hazardous waste.
About the Company:
Following the sale of the Company's original business, a web hosting and site maintenance business to Tulix Systems, Inc., the Company now focuses solely on its licensed technology business. Through this core focus, the Company seeks to convert licenses it has acquired in emerging technologies from the nuclear energy, environmental, and chemical industries, into manufactured products, primarily via sub-licensing to manufacturers.
"Forward-Looking Statements"
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Company officials during presentations are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act").
Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, or which include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "hopes," "seeks," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act.
Some of the factors that could significantly impact these forward-looking statements in this press release include, but are not limited to: insufficient cash flow to continue to fund the development and marketing of the Company's products and technologies; the failure of the Company's products and technologies to become commercially marketable; our ability or inability to obtain financing; the loss of key personnel; changes in financial markets and general economic conditions; and, disputes as to the Company's intellectual property rights, including the Company's rights to the technologies that it licenses. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about the Company, its licenses, products, economic and market factors and the sectors in which the Company does business, among other things. These statements are not guarantees of future performance and the Company has no specific intention to update these statements. More detailed information about those factors is contained in the Company's filings with the Securities and Exchange Commission.