Attached files
Exhibit
99.1
ELEMENT
21 ACQUIRES EXCLUSIVE DISTRIBUTION LICENSE FOR STATE-OF-THE-ART NANOTECH
INSULATION TECHNOLOGY FOR USE IN SPORTS APPLICATIONS
Company
Initially Intends to Focus Its Sales Efforts on Insulation for the $2.4 Billion
Worldwide Market for Sports Apparel and Footwear
TORONTO,
Jan. 14, 2010 (GLOBE NEWSWIRE) -- Element 21 Golf Company (OTCBB:ETGF) ("Element 21"),
the leader in applications of high tech materials in sports industry, announced
today that it has signed an exclusive agreement for the licensing and
distribution of Zeroloft Aspen Aerogels(TM) Insulation for sports applications
including apparel and footwear.
Aspen
Aerogels'(TM) superior insulation technology has been recognized as one of the
Top 10 Nanotech Products by Forbes Magazine in 2005 and has even been used by
NASA for insulating astronauts in space. Its applications in the sports apparel
and footwear industry are vast as it has scientific and market tested data
verifying that it increases thermal protection more than two to twelve times
that of traditional insulation fillers such as down or polyester fiber.
Additionally, it can provide a weight savings of as much as 80% when compared to
traditional insulation fillers.
According
to a new report from the NPD Group, worldwide sales of sports equipment, apparel
and footwear was $278.4 billion (185.6 billion euros) in 2007, with the U.S.
share of the market at about 36%. Element 21 initially intends to market and
distribute Zeroloft Insulation as an integrated solution for the needs of the
estimated $2.4 billion worldwide sports apparel and footwear market. Management
believes its early focus will be on seeking distribution relationships with
larger worldwide apparel and footwear manufacturers that are leaders in their
categories or known for their state-of-the-art products.
Commenting
on the agreement, Dr. Nataliya Hearn, Chairman, President and CEO of Element 21,
stated, "We are extremely excited to have acquired these licensing rights for
Zeroloft Aspen Aerogels(TM). By entering this multibillion dollar market we
begin the next phase of growth for Element 21 as we look to become a
state-of-the-art sports- related products company addressing the needs of the
sports equipment, apparel and footwear industries. This opens up new doors for
us in this market and we intend to pursue this and other opportunities for the
benefit of the Company and our shareholders."
About
Zeroloft
Zeroloft
(www.zero-loft.com) is
in the business of manufacturing proprietary new nanotechnology-based materials
and composites for consumer products for energy conservation, recycling, and
home green energy solution. Zeroloft Aspen Aerogels(TM) is manufactured from
Aspen Aerogels Spaceloft(TM), based on nanoporous aerogel, material that holds
15 world records in the Guinness Book of World Records. In addition, it is
proven to have better insulation capacity by a factor of two to twelve times
over any existing insulation materials. Independent, comparative data may be
accessed at http://zeroloft.com/media/Aerogel_thermal_insulation.pdf.
Aerogel insulation, used by Zeroloft, has a track record of over five years of
use and service in industrial, cryogenic and oil and gas business by
shipbuilders and oil and gas companies.
About
Element 21
Element
21 is a leader in the application of high tech materials in the sports industry
including advanced Scandium Alloy golf products and biofiber fishing equipment.
Element 21's premier products are golf clubs (www.e21golf.com) and
fishing poles made out of Scandium and biofiber materials, which are lighter and
stronger than Titanium, Graphite and Steel. Element 21's golf clubs have been
used by renowned golf pros, such as the winner of the FedEx Cup in
2008.
Element
21 has developed award-winning fishing products (www.e21fishing.com).
Element 21's Carrot Stix(TM) represents the latest in cutting-edge technology,
using a newly developed proprietary method of integrating nano level cellulose
bio-fibers into the rod. The fishing products recently were recognized as the
"BEST OF SHOW" in the 2007 and 2008 ICAST shows, the world's largest sports
fishing show.
Forward-Looking
Statements
Certain
statements in this press release may constitute "forward-looking statements"
that involve risks and uncertainties. These include statements about our
expectations, plans, objectives, assumptions or future events. You should not
place undue reliance on these forward-looking statements. Information concerning
factors that could cause our actual results to differ materially from these
forward-looking statements can be found in our periodic reports filed with the
Securities and Exchange Commission. We undertake no obligation to publicly
release revisions to these forward-looking statements to reflect future events
or circumstances or reflect the occurrence of unanticipated events.
CONTACT: Legend
Securities, Inc.
John M
Columbia
718-233-2677
Fax:
888-586-6515
jcolumbia@legendsecuritiesinc.com
Acorn
Management Partners, LLC
Investor
Relations:
John R.
Exley, III
866-491-3739
678-368-4002
JRE@acornmanagementpartners.com
http://www.acornmanagementpartners.com
Element
21 Sports Company
1-888-365-2121
ext 106
sales@e21golf.com
Media /
Marketing:
Nigel
DaCosta
1-416-362-2121
ext. 104
Nigel.Dacosta@e21sports.com
http://www.e21Sports.com