BOCA RATON, Fla., Nov. 1 /PRNewswire-FirstCall/ -- DDS Technologies USA, Inc. , http://www.ddstechusa.com, today announced that Xethanol Corporation has agreed that, in order to retain the exclusivity of its license agreement with the Company, it will have to order a minimum of thirty dry disaggregation processor machines from DDS during the two-year period 2006 through 2007.
Under the terms of the previously announced agreement, DDS USA granted Xethanol an exclusive license, with certain exceptions, to market DDS USA’s dry disaggregation technology to the ethanol industry in the USA. The terms called for Xethanol to earn a fee for its marketing and sales efforts, based on the sales of DDS USA’s machines and for DDS not to appoint any other party to perform similar services, if Xethanol met certain minimum machine sales requirements in 2006 and 2007.
Those minimum sales requirements are ten machines in 2006 and twenty machines in 2007. Any machine orders exceeding ten in the year 2006 may be “rolled forward” and shall be applied to the required volume of thirty.
DDS also announced that as part of its recently announced Marketing and License Agreement with Xethanol Corporation, its dry disaggregation processor originally shipped to Xethanol’s Hopkinton, Iowa ethanol production plant, will be shipped to DDS’ new R & D facility in Norcross, Georgia, within two weeks. This machine will be dedicated to product research and DDS plans to install a second, U.S. built machine in its R&D facility for ongoing development of the technology.
In addition, DDS announced that its first machine shipped to Sulfur Solutions Inc. (SSI) in Calgary, Canada is expected to be assembled within two weeks.
In February 2005, DDS announced an Exclusive License Agreement between DDS Technologies USA Inc. and Sulfur Solutions Inc. (SSI) of Calgary, Canada for the separation of impurities from Sulfur mining waste and other process residues. Subsequently, tests were conducted on an experimental DDS machine and results were extremely positive. SSI ordered a machine from DDS, which has been shipped to SSI and is expected to be assembled within two weeks.
Spencer Sterling, President & CEO of DDS USA said, “I am pleased to further amplify the details of our agreement with Xethanol and excited by the potential opportunities of our respective technologies. In addition, we are moving forward in our relationship with SSI and continue to make steady progress in the commercialization of our patented DDS technology, which we are hopeful will be a growing source of revenue.”
ABOUT XETHANOL CORPORATION
Xethanol Corporation seeks to become a leader in the emerging biomass-to- ethanol industry. Xethanol’s mission is to convert biomass that is currently being abandoned or land filled into ethanol and other valuable co-products, such as xylitol. Xethanol’s strategy is to deploy proprietary bio-technologies that will extract and ferment the sugars trapped in these biomass waste concentrations. Xethanol’s goal is to produce ethanol and valuable co-products more cost effectively with ethanol plants located closer to biomass sources. In Iowa, Xethanol owns and operates two ethanol production facilities, where it is deploying these technologies. For more information about Xethanol, please visit its website at http://www.xethanol.com
ABOUT DDS TECHNOLOGIES
DDS Technologies USA, Inc. holds the rights to a processing technology which maximizes the net output of a broad spectrum of organic products. The DDS System utilizes a new longitudinal micrometric separator, along with other technologies, to micronize and separate various fractions (proteins, fiber, starch, etc.) and converts processing waste streams into value added products for further processing or resale. The DDS technology is a unique process whereby fragments of organic and inorganic matter are “crushed to collision” through violent accelerations and decelerations causing the disaggregation of the structure. As part of the process, the matter is separated into the various fractions contained therein. The technology can also be applied to inorganic products. DDS Technologies USA, Inc. is a development stage company, which owns the patent for the DDS dry disaggregation system in the USA and has patents pending worldwide.
Certain statements in this press release that involve expectations or intentions (such as those relating to future revenue, deployments or planned operations) may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The information in this press release is based on current expectations and assumptions, and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks include, among others, general business and economic conditions, competitive actions, continued acceptance of products and services and dependence on third party performance as well as the risks and uncertainties referred to in DDS Technologies USA’s current filings with the Securities and Exchange Commission. The reader should not place undue reliance on such forward-looking statements. DDS Technologies USA does not assume any obligation to update such forward-looking statements.
CONTACT: Spencer L. Sterling, President & CEO DDS Technologies USA, Inc. 561-750-4450 Carl Hymans G. S. Schwartz & Co. 212-725-4500 carlh@schwartz.com Tony Schor or Meredith Philipp Investor Awareness, Inc. (847) 945-2222 tony@investorawareness.comMeredith@investorawareness.com
DDS Technologies USA, Inc.
CONTACT: Spencer L. Sterling, President & CEO of DDS Technologies USA,Inc., +1-561-750-4450; or Carl Hymans of G. S. Schwartz & Co. for DDSTechnologies USA, Inc., +1-212-725-4500, carlh@schwartz.com, or Tony Schor,tony@investorawareness.com, or Meredith Philipp,Meredith@investorawareness.com, both of Investor Awareness, Inc.,+1-847-945-2222
