8 June 2010 — (GlobeNewswire via COMTEX) — TIE Technologies, Inc. (Pink Sheets:TTCS), an information technology, smart logistics, and telemetrics company, today announces BP’s escalation of TIE Technologies’ previously submitted OilDam® Emergency Containment Proposal to field review by BP and U.S. Coast Guard.
TIE Technologies’ revised OilDam® proposal has been escalated to final technical engineering review by BP’s Horizon Alternative Response Technology Team and is now under consideration for immediate field testing by the BP and U.S. Coast Guard Field Technical Operations Group.
The TIE Technologies led team had 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 Inc. is leading a team of industry experts in providing a viable solution to keep the gulf oil spill away from the gulf coast shores. The team includes Geocomp Corporation, a global leader in geo-engineer technology. These new critical OilDam® technologies are at the foundation of the OilDam® Emergency Containment Proposal, and are being patented collaboratively by TIE Technologies and Geocomp Corporation, a global leader in geo-engineer technology.
The OilDam® solution is available for immediate deployment 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, it is ecosystem friendly, allowing water to pass back and forth through its base, maintaining normal tidal flows which 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, to small business needs and mobile smart phones. TIE Technologies is traded on Pink Sheets under the symbol “TTCS”. For additional information please visit www.tietechnologies.com.
ABOUT GEOCOMP CORP
Geocomp is a global leader in geo-engineering and has developed some of the most technologically advanced products and solutions available today for the geo-engineering field. Geocomp is also one of the leading experts in the U.S. on the development of new applications of geosynthetic materials, and is also an expert in active risk management for civil works project.
This news release was distributed by GlobeNewswire, www.globenewswire.com
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.
