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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
today’s 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 customer’s specification. They might spell out the county’s 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.” GloTech’s 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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