Onteco Corporation, ONTC, Announces $2.9 Million First International Licensing Agreement for its Cutting-Edge NexPhase Intellectual Property
MIAMI, May 7, 2012 /PRNewswire/ -- Onteco Corporation (OTC.QB: "ONTC"), (the "Company", or "Onteco"), announced today that it has signed its first international license agreement (the "Agreement"), with JARLYN S.A., ("JARLYN") a Uruguayan corporation, for its proprietary LED intellectual property ("IP"), developed by its subsidiary, NexPhase Lighting, Inc. ("NexPhase"), a designer, developer, manufacturer and marketer of high-efficiency, high-quality, LED "intelligent" lighting fixtures. Under the terms of the Agreement, Onteco will receive a combination over ninety days of $2.9 million dollars in common stock of "Integral Bioenergies Systems, SL" (currently listed on the Frankfurt Stock Exchange under the symbol, "8IB") and cash, in addition to an ongoing royalty on gross revenues from the sales and installations of lighting products using the Company's IP.
"This is the breakthrough that we have been negotiating for months," stated Dror Svorai, President of the Company. "It is an exclusive license, effective immediately, that allows JARLYN to market our technologies throughout Uruguay. JARLYN will use our licensed IP to preemptively capture market share in their own just-emerging, energy-saving urban markets. He added, "In the months ahead we expect we will be able to sign additional international licensing agreements, which will further add value to our Company and demonstrate the value of our IP."
About Onteco Corporation
Onteco Corporation was founded to develop innovative, practical and cost-effective solutions to some of the most significant environmental challenges facing us today. Additionally, these solutions must show promise of generating significant, ongoing profits for the company. The company determined that one industry that meets these criteria is the Energy Saving Lighting Industry, and as a result acquired NexPhase Lighting, Inc., in February 2011.
Additional information about Onteco Corporation is available at: www.Onteco.com
About NexPhase Lighting, Inc.
NexPhase Lighting, Inc. is a designer and developer of proprietary high-quality LED (light-emitting diode) lighting fixtures and control systems for commercial applications. It believes its products will be the lowest-cost, highest-efficacy fixtures available in the LED Lighting Industry. All NexPhase lighting products incorporate its proprietary "NexSense Technology™", which provides benefits well beyond the generally acknowledged advantages of all other LED lighting fixtures. NexSense control systems use a unique, "patent pending" wireless protocol, which provides for an unsurpassed reduction in architecture and infrastructure installation cost in commercial applications, as well as significantly reduced maintenance and ongoing operation costs.
For more information about NexPhase Lighting, Inc. visit: http://www.nexphaselighting.com
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
CONTACT: Onteco Corporation
Dror Svorai, President, (305) 932-9795
SOURCE Onteco CorporationBack to top