HOUSTON, Sept. 30, 2011 /PRNewswire/ -- (PINKSHEETS: AGHD)
Augrid Global Holdings Corporation's, subsidiary Carbon Composite
Technologies, "CCT," will introduce a recently patented hybrid
fiberglass/carbon nano textile fabric for use in the manufacturing
of fiber reinforced polymer (FRP) products. The novelty, of the
recently patented material, is that it combines the strength and
light weight of carbon nano fibers with the cost efficiency of
fiber glass. Several Fortune 500 manufacturers in the Wind
Energy, Aerospace, Armoring, Marine and Automotive markets have
begun evaluating the weight and cost savings achieved. Augrid
is projecting the annual revenue to exceed $25,000,000 in material, equipment sales and
license fees over the next two years. CCT is estimating the
sale of approximately 10,000,000 lineal yards requiring more than
2000 pounds of multiwall carbon nanotubes to achieve these
projections and necessary manufacturing equipment and facilities
have already been identified.
CCT's "Patented Fabric" has a similar cost to fiberglass but
with physical characteristics superior to carbon fiber fabrics
while meeting national standards for strength, corrosion resistance
and durability. An additional proprietary feature of the
technology and material is that it can be resistively heated to
reduce molding production time and energy requirements. The
revenue will be made from License fees with royalty minimums, paid
technology transfer with exclusive material and equipment supply
agreements through CCT.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The statements regarding AUGRID Corporation in this release
that are not historical in nature, particularly those that utilize
terminology such as "may," "should," "likely," "expects,"
"anticipates," "estimates, "believes" or "plans," or comparable
terminology, are forward-looking statements based on current
expectations about future events, which AUGRID Corporation has
derived from the information currently available to it. These
forward-looking statements involve known and unknown risks and
uncertainties that may cause our results to be materially different
from results implied in such forward-looking statements. Important
factors known to AUGRID Corporation that could cause
forward-looking statements to turn out to be incorrect are
identified and discussed from time to time in AUGRID Corporation's
filings with the Securities and Exchange Commission. The
forward-looking statements contained in this release speak only as
of the date hereof, and AUGRID Corporation undertakes no obligation
to correct or update any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact: Investor relations :
Craig Fischer
888-405-3140
5847 San Felipe Dr
Houston, TX
SOURCE Augrid Global Holdings Corporation