CINCINNATI, Feb. 6, 2014 (GLOBE NEWSWIRE) -- Tauriga Sciences, Inc. (OTCQB:TAUG) or ("Tauriga" or "the Company"), a diversified company focused on generating profitable revenues through license agreements and the development of a proprietary technology platform in the nano-robotics space, today announced the execution of a multi faceted service agreement ("the agreement") with the University of Cincinnati Research Institute ("UCRI") to facilitate the commercialization of the Company's proprietary bacterial robot ("BactoBot™") technology platform for treatment and remediation of wastewater. Through the signing of this agreement with UCRI, the company gains access to a work class laboratory in preparation for its anticipated two commercial pilot tests. In addition the Company plans to develop new products, such as the PCB remediating Nuclear BactoBot™, and the rapid prototyping expertise of the UCRI scientists will be of great value to the Company.
The service agreement between Tauriga and UCRI is a 5 year ("60 month") agreement with the effective date of Monday, February 03, 2014. There is the possibility that additional inventions and or intellectual property ("IP") will be conceived by the parties pursuant to this agreement and such IP will be commercialized by Tauriga. The Company shall file a Form 8K disclosing the above-mentioned service agreement in its entirety within the next few business days.
Tauriga's CEO Seth M. Shaw commented, "The Company's aim is to commercialize its technology and enable both businesses and municipalities to process the complex pollutants within wastewater while simultaneously extracting valuable chemicals stored within that wastewater. The signing of the service agreement with UCRI is an important puzzle piece in our commercialization efforts, because it provides the Company with access to both world class scientists and industry partners. Within days the Company expects to submit its final proposals for two commercial pilot tests; such proposals will be submitted to the Metropolitan Sewer District of Greater Cincinnati and the world's largest beer manufacturer."
UCRI's CEO David R. Linger stated, "The type of multidisciplinary activities envisioned in this agreement with Tauriga is a great example of UCRI's mission; to connect the faculty and student talent from across of the University of Cincinnati with the problems industry is working to solve."
On January 28, 2014 the Company completed its acquisition of Cincinnati, Ohio based Pilus Energy LLC ("Pilus Energy"), a developer of alternative cleantech energy platforms using proprietary microbial solutions that creates electricity while consuming polluting molecules from wastewater. Accordingly, Pilus Energy now operates a wholly-owned subsidiary of Tauriga Sciences, Inc."
About Tauriga Sciences, Inc.:
Tauriga Sciences, Inc. (TAUG) is a diversified company focused on generating profitable revenues through license agreements and the development of a proprietary technology platform in the nano-robotics space. The mission of the Company is to acquire and build a diversified portfolio of cutting edge technology assets that is capital efficient and of significant value to the shareholders. The Company's business model includes the acquisition of licenses, equity stakes, rights on both an exclusive and non-exclusive basis, and entire businesses. Management is firmly committed to building lasting shareholder value in the short, intermediate, and long terms. On January 28, 2014 the Company completed its acquisition of Cincinnati, Ohio based Pilus Energy LLC ("Pilus Energy"), a developer of alternative cleantech energy platforms using proprietary microbial solutions that creates electricity while consuming polluting molecules from wastewater. The Company's corporate website can be found at (www.tauriga.com).
About Pilus Energy LLC
A developer of alternative cleantech energy solutions, Pilus Energy is developing microbial solutions that clean polluting molecules from wastewater. In the process, the technology generates electricity and produces economically important gases and chemicals. Pilus Energy licenses a low-cost, scalable electrogenic bioreactor platform and wastewater-to-value BactoBots. Pilus Energy will also derive additional revenues from carbon and renewable energy credits (REC). Pilus Energy is a wholly-owned subsidiary of Danbury, CT based Tauriga Sciences, Inc. (OTCQB: TAUG). For more information, please visit Pilus Energy's web site, (www.pilusenergy.com).
About The University of Cincinnati Research Institute (UCRI)
University of Cincinnati Research Institute (UCRI) serves to connect UC experts to industry partners, facilitate commercialization of research and enhance cooperative and experiential learning experiences for UC students. Collaboration with UCRI, an independent nonprofit 501(c)(3), promises all the benefits of partnership with a major research university, with a new business model that operates at the speed of business and provides collaborative models for managing intellectual property. UCRI is a place where partners can bring ideas and university experts can help drive them forward. Please visit the UCRI official website at (http://www.uc.edu/discovery/ucri.html)
DISCLAIMER:
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on TAUG's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which TAUG has little or no control. Such forward-looking statements are made only as of the date of this release, and TAUG assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by TAUG with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.