SARNIA, ON -- Megola Inc. (OTCBB: MGON) says it plans to buy a wood products fire inhibitor technology, and that it signed an agreement to purchase intellectual properties for the Hartindo AF21 Anti-fire Inhibitor product with its owner, 1771601 Ontario Inc.
1771601 Ontario Inc. originally acquired the technology purchase agreement and North American manufacturing rights for Hartindo AF21 with Randall Hart of Newstar Chemicals Sdn Bhd in October 2007.
"Megola has been blending the AF21 Fire Inhibitor in North America for the past couple of years," says its CEO Joel Gardner. "Obtaining the ownership of the technology will allow us to make any modifications required so that Megola can better serve specific industries and applications. It will also allow Megola the potential of initiating patents for the different blends."
Megola says it has tested and is is targeting the AF21 product for use in the wood industry as a stand alone topical treatment or for blending with other wood treatment products such as Ecoblu Products Inc.'s FRC Technology, Bluwood and NexGen. In April Megola ended its distribution relationship with EcoBlu.
Megola, which is based in Nevada and headquartered in Ontario, describes the process as water-based, non-toxic, and environmentally-friendly, ands a safe alternative to current fire retardant chemicals. A video shows the flame retardant being tested on upholstered furniture applications.
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