NanoLogix and CL Solutions www.cl-solutions.com have signed a jointdevelopment agreement to develop and market Fast Detection Bioremediation Kits(FDBK) for use in monitoring the treatment process for organic contaminants insoil and groundwater. Efrain Torres, CEO of CL Solutions, stated: "We are veryexcited about this joint effort with NanoLogix. The use of NanoLogix'spatented technology will significantly improve the effectiveness ofbioremediation technologies by providing the real-time feedback that iscurrently missing in field applications."
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In July 2008, initial sales of BNC and BNP rapid detection kits began to amajor research and development facility whose mission is focused on improvingnational defenses against bioterrorism. These sales are a direct result ofcontacts made at the NanoLogix booth during the American Society forMicrobiology 108th Annual Meeting in Boston in June and are expected toincrease significantly as the project applications move forward on a varietyof fronts.
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Hydrogen bioreactor prototype operations continue at Welch's inPennsylvania, with final testing of feedstock taking place prior to completionof an evaluation of the economics of a potential second-generationinstallation. Wastewater treatment facility bioreactor research anddevelopment, utilizing activated sludge as feedstock, will proceed with thefocus on Ohio treatment facilities due to logistical and operational benefitsto the company.
NanoLogix directors have unanimously agreed to a reduction in their sharecompensation received for board service. This reduction brings the sharecompensation to only 16% of what had been issued to directors prior to themanagement change in March 2007. Directors and management continue to foregosalary in the interest of building the company.
Bret Barnhizer, NanoLogix CEO remarked, "The efforts of the last 16 monthsto build a solid business and biotechnology foundation are bearing fruit. Withthe CL Solutions joint development project, first BNC/BNP kit sales to ahighly respected major institution involved in U.S. defense efforts againstbioterrorism, and the associated potential for sales to a broad range ofcustomers, we have achieved the goals set forth last year in our businessplan. Directors John Chatterton and Dr. Robert Ollar have clearly demonstratedtheir faith in the future of the company by accepting 160,000 shares annually,contrasted with the 1,000,000 shares drawn by directors in the past. We arenow on track for establishing a sustaining revenue stream that will enableexpansion of production for BNC/BNP technologies and also increase ourresearch and development efforts for hydrogen extraction from waste, with afocus on turning that waste into a reliable source of alternative energy aswell as reducing the volume of waste now flowing into our ecosystem."
About CL Solutions, LLC.
A leader in the field of bioremediation, CL Solutions rapidly andaffordably bioremediates soil and groundwater contaminated with hydrocarbonsand chlorinated solvents. The company's products, CL-Out(TM) and Petrox(TM),have been field-proven to work faster, work better, and cost less than otherhazardous waste cleanup solutions.
About NanoLogix, Inc.
NanoLogix is an industry innovator in the research, development, andcommercialization of biotechnologies, applications and processes. The Companyhas multiple Patents and Patents Pending for rapid medical testing,bioremediation, and Hydrogen Production utilizing bioreactor technology.Information on NanoLogix is available at www.nanologixinc.com .
This press release contains statements which may constitute"forward-looking statements" within the meaning of the Securities Act of 1933and the Securities Exchange Act of 1934, as ame
