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.
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SOURCE Augrid Global Holdings Corporation