BOCA RATON, Fla., April 01, 2021 (GLOBE NEWSWIRE) — Xeriant, Inc. (OTC PINK: XERI), a new aerospace technology holding company, announced today that its Czech Republic affiliate, Xeriant Europe s.r.o., has entered into a joint venture with Movychem s.r.o. (“Movychem”), a 27-year-old chemical company based in Slovakia, primarily to further develop applications and new markets for its breakthrough “green” fire retardant and fire resistant products under the brand name Retacell. Under the agreement, Xeriant Europe has a 50 percent stake in Movychem Holdings s.r.o., which will hold all intellectual property rights and patents, as well as exclusivity for distribution of Movychem products in the U.S. market.
“The Movychem JV is consistent with our strategy to acquire technologies that advance sustainability and safety in aerospace and can produce near-term revenue. Many of these innovations have applications in other industries. The new electric aircraft being developed will need to be optimized for aerodynamics and lightweighting, as well as safety, and Movychem’s Retacell has the potential to play a critical role in this mission,” stated Keith Duffy, CEO of Xeriant Aerospace.
Retacell is a breakthrough eco-friendly fire and thermal protection technology that is biodegradable and non-toxic, and can be infused into a variety of plastics, foams, sealants, fillers, adhesives and coatings, as well as textiles and wood-derived products. Movychem is in the process of initiating testing on Retacell treated plastics, textiles, wood-derived materials and carbon fiber. The number of potential applications is almost unlimited in the transportation and construction industries.
The breakthrough thermal and fire protection properties of Retacell could have broad implications in aerospace for the engine, wiring, structural and interior components of flight vehicles, including the insulation of batteries utilized in electric aircraft propulsion systems. Movychem initially plans to test Retacell on the thermoplastics and foams used in aircraft cabin interiors, for floors, ceilings, wall panels and seats. To achieve certification, Movychem plans to work with aircraft materials suppliers, component manufacturers and major airframe manufacturers to produce the safest and most durable materials, with the goal of exceeding all fire, smoke and toxicity requirements according to Federal Aviation Regulations.
“We invested nearly 20 years of R&D in Retacell to make this one of most important advancements in fire and heat protection. Our product is more cost-effective and safer for the environment than competing technologies, and there is greater application flexibility. Teaming up with Xeriant will best position our efforts to not only enter the U.S. market, but to compete for a piece of the global vehicle interiors markets, including aircraft and automobiles, as well as construction materials,” commented JUDr. Lubos Nemecek, Managing Member of Movychem.
About Movychem s.r.o.
Founded in 1993, Movychem s.r.o. (“Movychem”), the creator of Retacell, is a chemical manufacturing company that develops and distributes specialty materials, primarily in Central Europe. Their product line includes sealants, adhesives, fillers, additives, colorants, paints, coatings, fire retardants, and waterproofing materials for a variety of industries and applications. In 2001, Movychem began its research, development and testing of its fire and thermal protection technologies, called Retacell, which led to several global patents. Until 2019, the company was not engaged in the marketing and distribution of Retacell, because its focus was on R&D, testing and certification.
About Xeriant Europe
Xeriant Europe s.r.o., headquartered in Prague, Czech Republic, was founded with the purpose of identifying leading-edge green technologies with applications in aerospace, primarily from the Czech Republic, and promoting them on the world market, especially in the U.S. The company’s focus is on unique products that are either already being sold or are close to commercialization.
About Xeriant
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is a holding and operating company focused on acquiring, developing, and commercializing revolutionary, eco-friendly technologies with applications in aerospace, including innovative aircraft concepts targeting emerging opportunities within the aviation industry. In 2019, Xeriant acquired a unique, scalable, multi-purpose VTOL aerial platform called Halo, which is protected under a broad utility patent. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport. The Company is an OTC Markets public company trading under the stock symbol, XERI.
For more information, please go to www.xeriant.com
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XERIANT, INC. CORPORATE
Investor Relations:
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Source: http://www.globenewswire.com/news-release/2021/04/01/2203274/0/en/Xeriant-Signs-Joint-Venture-with-Movychem.html
