Element 21 Golf Company, a leader in applications of high tech materials in sports industry, announced on January 14, that it had signed an exclusive agreement for the licensing and distribution of Zeroloft Aspen Aerogels™ 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™ 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 (OTCBB:ETGF) 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.