 |
|
|
|
|
PRESS RELEASES
|
BlastGard International, Inc. Enters Into Agreement With Luna Innovations Incorporated
September 23, 2004, Clearwater, FL. BlastGard International, Inc. (OTCBB: BLGA), a creator of explosive mitigating products, announced that it has entered into an agreement with Luna Innovations Incorporated (Luna Innovations). The agreement incorporates a research project, now underway, with the U.S. Navy. Luna Innovations, of Blacksburg, VA, and BlastGard are collaborating on a proprietary new product that incorporates flame retardant properties while mitigating against explosions. Luna Innovations' U.S. Navy research project, under the Small Business Innovation Research program, for the Department of Defense, was partly drafted by BlastGard on behalf of Luna Innovations.
BlastGard is actively participating in the area of Insensitive Munitions policy with the Defense Ordnance Safety Group, a division of the UK Ministry of Defense. Current BlastGard ammunition packaging containers have been designed to prevent sympathetic detonation between adjacent containers, both fast and slow cook off, and reduces the possibility of initiation by a ballistic threat. Advanced packaging materials from Luna Innovations may significantly enhance BlastGard's capability in this area by extending the time taken for munitions to cook off in the event of a fire.
BlastGard's CEO Jim Gordon explains, "This joint effort benefits both companies. Luna Innovations' advanced materials make our ammunition packaging more effective against secondary fragmentation and fire, while BlastWrap's technology enables Luna Innovations to meet the stringent sympathetic detonation requirement within mass and volume constraints. We collectively believe this is an excellent opportunity for both of our companies to obtain access to U.S. Navy packaging programs."
With regards to the newly formed relationship, Mike Gunther, Luna's Vice President of Operations stated, "Aligning ourselves with BlastGard provides Luna Innovations with an additional opportunity to maximize the commercial potential of our flame retardant advanced materials. Flame retardant additives are necessary in plastics, coatings and fiber reinforced polymer composites to prevent rapid combustion and reduce the spread of fire through these materials. Flame-retardants work to interfere with the chemical and physical processes involved in the combustion process. Luna's flame retardants offer advantages of minimal environmental impact and little off-gassing of toxic compounds during combustion."
Jim Gordon adds, "Luna Innovations makes an excellent partner for BlastGard. This company has a successful track record, posting over a decade of growth, and has actively transitioned basic research and development into cost-effective products for industry, defense, communities and the environment. We share a common mission: identifying new markets, the research and development of technologies, and the exploration of commercial applications."
About Luna Innovations Incorporated
Luna Innovations identifies market opportunities and integrates them with qualified, novel technologies that move the concepts from the lab to the marketplace. Luna Innovations core technologies reside in fiber optic, wireless, and ultrasonic sensing, biotechnology, advanced materials and integrated systems. Luna's technologies are making optical communications systems faster, lowering manufacturing costs, enhancing energy production, enabling drug discovery and improving abilities to diagnose and treat diseases. Additional information on Luna Innovations can be found at www.lunainnovations.com.
About BlastGard International, Inc.
BlastGard International, Inc. was created to design, develop, manufacture and market proprietary blast mitigation materials. The Company's patent-pending BlastWrap™ technology effectively mitigates blast effects and suppresses post-blast fires. This unique technology can be used to create new, finished products or to retrofit to existing products. While the need for this technology has always been present, the security and safety concerns resulting from the September 11, 2001 acts and the subsequent development of Homeland Security make the timing of the Company's emergence even more important. The Company's core market focus is on blast effects mitigation for the commercial sector, military, law enforcement and government agencies. BlastWrap™ is based upon well-defined principles and suppresses blast pressures by 50% or more. BlastWrap™ products are made from two flexible films arranged one over the other and joined by a plurality of seams filled with attenuating filler material (volcanic glass bead or other suitable two-phase materials), configurable (designed for each application) with an extinguishing coating that offers a revolutionary blast protection system against Blast & Fire/burn threats. BlastWrap™ is a blast mitigation assembly that can be wrapped around or conform to any shape. BlastWrap™ is a concept (not a chemical compound) from which blast protection products are built to save lives and reduce damage to valuable assets from explosions. Additional information on BlastGard can be found at www.blastgardintl.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: the Company's ability to market its products; the Company's ability to obtain additional funding; the Company's ability to obtain regulatory approvals on new products, the general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and other risk factors. The Company takes no obligation to update or correct forward-looking statements.
Investor Relations Contacts:
|
|
|
|
