14 June 2010 – TIE Technologies, Inc. (Pink Sheets:TTCS), and Geocomp Corporation announce that the OilDam™ technology and the Trademark Application, patent rights and associated assets are owned in equal parts by TIE Technologies and Geocomp, the team leaders of the OilDam™ Emergency Containment Proposal.
An application to register the OilDam™ mark has been filed with the United States Patent and Trademark Office, thus it is considered a “pending” application. The overall process, from the time of initial filing to final registration, can take 13-18 months or even longer, depending on many factors; e.g., the Examiner’s preliminary refusal based on technical clarifications, the descriptiveness of the mark and/or a likelihood of confusion with existing third party marks.
TIE Technologies’ revised OilDam™ proposal developed in conjunction with Geocomp Corporation has been escalated to final technical engineering review by BP’s Horizon Alternative Response Technology Team and is scheduled for field testing by the BP and U.S. Coast Guard Field Technical Operations Group.
The TIE Technologies-Geocomp team originally submitted its OilDam™ Emergency Containment Proposal to the EPA’s Homeland Security Research Center and the U.S. Coast Guard for consideration on May 18th 2010. TIE Technologies and Geocomp are leading a team of industry experts in providing a viable solution to keep the gulf oil spill away from the gulf coast shores. These new OilDam™ technologies are at the foundation of the OilDam™ Emergency Containment Proposal, and are being patented collaboratively by TIE Technologies and Geocomp Corporation.
The OilDam™ solution is designed to keep oil away from the shore, contain it and pump it into storage containers for recycling. At the same time, this fixed barrier blocks oil, and is ecosystem friendly by allowing water to pass back and forth through its base, maintaining tidal flows to support critical shoreline life. The system is unique in its diverse capabilities, utilizing manufacturing, fabrication and deployment techniques that have been well developed over the past 40 years.
More detailed information regarding the product and its environmental impact are now available on the internet at www.tietechnologies.net/environmental-logistics.php.
ABOUT TIE TECHNOLOGIES, INC.
TIE Technologies is a science and technology driven systems integration, security, smart logistics and Telemetrics company. TIE’s Smart Technology Solutions strive to provide better ways of doing things in every market it touches, from large logistical challenges, down to small business needs and mobile smart phone applications. TIE TeleMetric’s Services and Acumen architecture are designed to provide real time actionable intelligence to help team’s secure critical assets, TIE is actively evolving smart solutions and proprietary critical path technologies for the environmental and security needs of government and institutional customers. TIE Technologies is traded on Pink Sheets under the symbol “TTCS.” For additional information, please visit www.tietechnologies.com.
ABOUT GEOCOMP CORPORATION
Geocomp Corporation, www.geocomp.com, is a global leader in geo-engineering and has developed some of the most technologically advanced products and solutions available for the geo-engineering field. Geocomp has been at the center of some of the most challenging projects around the world, including many that used high strength geotextiles. The Company is also one of the leading experts in the U.S. on the development of new applications of geosynthetic materials and has prior experience in the design of large water barriers and geosynthetic tubes. Geocomp staff possesses extensive knowledge of the behavior of these materials in innovative new applications such as OilDam™. Geocomp is also an expert in Active Risk Management for civil works projects to help owners minimize the impacts of unexpected performance.
CONTACT
CSIR Group, LLC
Investor Contact:
Christine Petraglia, Principal
+1 212 386 7082
investor.relations@tietechnologies.com
Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projections and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company — although given in good faith — are inherently uncertain and actual events and/or results may differ materially.
This news release was distributed by GlobeNewswire, www.globenewswire.com
