BLOOMFIELD HILLS, MI - Ecology Coatings Inc., a leader in the discovery and development of ultra-violet curable, clean-technology advanced materials, has announced financial results for its first quarter ended March 31, 2008.
For the quarter, the company reported revenues of $10,417, with a $0.06 loss per share. Ecology Coatings, an inception-stage cleantech company, became a public entity in July 2007. The company currently has a license agreement with industry-leader DuPont and continues to build partnerships with a number of companies in the automotive, alternative energy, general industrial, medical and paper markets, among others.
"During the quarter we continued to invest in our business and secure our intellectual property, while working diligently to develop new partnerships to further the ongoing commercialization of our technology," said Ecology Coatings Chairman and CEO Richard D. Stromback. "Over the next three to six months we expect to announce new relationships with industry leaders, which will reinforce our products' commercial viability. We believe that these types of relationships will enable the widespread adoption of our energy-efficient, solvent-free UV curable coatings, which provide a compelling alternative to conventional powder coatings applications, as well as other thermal-cured solvent- and water-based coatings, in a diverse range of applications."