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Eco Logic Signs Agreement with Japanís Asahi Pretec

Date Posted: 2000-04-01

US company Eco Logic Inc. this week announced that it has entered into a letter agreement with Asahi Pretec Corporation, a major Japanese recycling and waste management firm, for the licensing of the Company's proprietary Gas-Phase Chemical Reduction (GPCR) technology in Japan. The agreement will allow Asahi Pretec exclusive rights to use the GPCR technology in Japan for the treatment of all organic wastes, with the exception of PCBs and chemical warfare agents. The agreement is subject to execution of a definitive licensing agreement, which the parties intend to sign in an official ceremony in June 2000. Upon completion of the definitive licensing agreement, Eco Logic will receive a market license fee exceeding US$1 million, plus a future royalty stream from all Asahi Pretec operated GPCR units. In the event of sale by Asahi Pretec of GPCR plants and applications to third parties, Eco Logic's per unit license and annual royalty fee structure will apply. The agreement will expire on December 31, 2007, but can be renewed for an additional 4 years upon agreement by the parties.

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