CSMG Technologies (CTGI) Acquires UTEK (UTK) Subsidiary
UTEK Corporation (AMEX: UTK) and CSMG Technologies, Inc. (OTCBB: CTGI)announce that CSMG Technologies has acquired Carbon Capture Technologies, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.
Carbon Capture Technologies Inc. holds a worldwide exclusive license to a composition and method for use of a novel Carbon Dioxide (CO2) adsorbent. Researchers at the University of Ottawa have developed recyclable CO2 adsorbents based on surface modified nanoporous silicas. The potential uses for the technology include capturing the bulk of C02 emissions from coal-fired power plants in order that these greenhouse gasses could be sequestered and thus reduce the carbon footprint of such facilities, as well as surgical and mine rescue applications.
UTEK Corporation (UTEK) is a business development company engaged in the business of technology transfer, intellectual property analysis, online technology exchanges and related consulting services with operations in the United States, United Kingdom and Israel. [SM]
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