GloTech Industries, Inc. (GTHI) |
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CEOCFO Current
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GloTech
Industries, Inc.s goal is to replace reflective materials on safety vests with their
electroluminescent (EL) lamps. Recent testing
with the Louisville Police Department provided positive feedback and the first order for
GlowVests GloTech Industries, Inc. (GTHI-OTC) is a
technology-based company whose goal is to provide the best visibility possible in todays
market. Based on a patent pending electroluminescent (EL) technology application that was
developed by the University of Florida and their own research team, GloTech has created
various illumination systems under the Signature Illumination brand. The
company develops, manufactures and markets proprietary products, primarily designed for
the vehicle safety and safety apparel markets, including GlowBike, GlowVest,
GlowLogos and the Wedge. What is driving the vest
and driving our products is the brightness and visibility of the product itself
states Mr. Heinz Fraunhoffer, President and CEO of GloTech
Industries, Inc. This immediately caught the eye of law
enforcement and particularly traffic police, because one of their biggest problems is
being visible. They often get hit by motorists when they direct traffic. Therefore we had
lots of interest from law enforcement agencies to use our vests in trials. We had great
testimonials from the Louisville, Kentucky Police; they noticed that motorists behave very
differently towards them when they wear that product. That was the reason why it had been
so successful in a short time. We believe that this product can replace the reflective
materials on vests. Addressing the issue of manufacturing GloTech
products, Mr. Fraunhoffer comments, We
do something which we call Rapid Product Development, that is the same idea as
rapid prototyping. We are working with local companies to get small sample quantities out
as quickly as possible. These products are evaluated by our customers; we get
instant feedback and implement that right back into the product development and design
process, and change the product within days. Once a product has matured, we have a
representative in Shanghai, who sources our materials and components. All of our products
are pre-assembled in the Far East. Customization of our vests will be done locally because
we want to retain the flexibility to customized vests according to customers
specification. They might spell out the countys name, sheriff department or what
ever the case may be. To make rapid development feasible, we work right here in
Gainesville, Florida, and the surrounding cities, but for larger orders we have overseas
facilities in place. GloTechs strategy is clear. Mr. Fraunhoffer says, Our goal is to
replace reflective materials on vests with electroluminescent lamps. We believe this
technology provides superior visibility to the product because it does not need an outside
light source and does not need to be viewed from a certain angle. We are working actively
on standards for safety vests. We believe that the large companies that provide
reflective material are our competition. On the other hand, we like to work with
manufacturers that make vests, and we do not envision ourselves manufacturing the vests.
Our strategy is to enter into license agreements with those manufacturers to have them do
what they know best, which is making vests with our technology. GloTech
provides potential investors with a story that is easy to comprehend. Having a product that is basic and easy to understand has been the
attraction for investors so far, explains Mr. Fraunhoffer. We have had
investment bankers, venture capitalists, and investors that looked at it and said This
is a no-brainer and we hear this term used all the time. Not only is the product
easy to understand, but also the value and use of the product is evident. There is hardly
any city or person in the U.S. that has not had a tragic but avoidable accident within the
last involving visibility at night. Visibility is something that concerns everyone. There
is nothing out there that comes close to our technology in terms of visibility. We apply
our technology to products that make sense. The GlowBike allows your bicycle to be visible for up
to 1600 feet, letting all surrounding drivers and pedestrians to be aware of your
presence. GlowVest products are designed for joggers, walkers, law enforcement personnel,
construction crews, airport ground operators, the military and others who need to be
highly visible at night. Electroluminescent strips are attached to the front and back of a
lightweight mesh vest and activated by the Company's standard power pack. Additional
innovations are under development, and the Company's goal is to become the leading
developer and marketer of EL safety products. |
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