Tyratech Regulatory News (TYR)

16 Oct 2007 07:05

XL TechGroup, Inc.16 October 2007 Press Release 16 October 2007 XL TechGroup, Inc. ("XL TechGroup" or "the Company") Commercial launch of TyraTech's first product XL TechGroup (AIM: XLT), the systematic architect and builder of an ongoingstream of high value new companies, announces that XL TechGroup company,TyraTech Inc. (AIM:TYR) ("TyraTech"), the pioneer of safer, effective andnatural pesticide products, has today announced the commercial launch and firstsales of its Crawling Insect Spray product. A division of one of the largest US food service distributors has signed aFlorida distribution agreement with TyraTech and has placed its first order forthe spray. The agreement will enable TyraTech to target hotels, restaurantchains, hospitals, schools and other facilities across Florida. Dr John Scott, CEO of XL TechGroup, said: "The market launch of its firstproduct is an important milestone in the development of TyraTech. There are avariety of significant global markets where the need for safer, natural pestcontrol is both significant and growing, and we look forward to furtherannouncements from TyraTech over the coming months." The TyraTech Crawling Insect Spray uses a proprietary blend of natural plantoils to deliver a superior combination of potent broad-spectrum insect controlcoupled with improved safety to humans and animals. TyraTech's formulation isideal for use by the hospitality industry and other markets linked to inhabitedspaces that require effective and responsible pest control, ensuring commitmentto customer and public health. TyraTech's Crawling Insect Spray treats a range of common pests including:cockroaches, drain flies, fruit flies, ants, bed bugs, dust mites and spiders.Based on a proprietary blend of plant oils, the spray's active ingredientsselectively target sensitive receptors found only in invertebrates to ensurefast, effective pest control. Unlike synthetic chemical insecticides,TyraTech's product is safer for regular use in places of high human exposureincluding heavily trafficked public spaces as well as food preparation andstorage areas. The product can be used while people carry on their day-to-dayactivities, eliminating the need for quarantine or evacuation that is requiredwith many chemical pesticides. - Ends - For further information:XL TechGroup Inc.John Scott / Harold Gubnitsky Tel: +1 321 409 7403hgubnitsky@xltg.comChris Munden, Director of Investor Relations Tel: +44 (0) 20 7398 7720cmunden@xltg.com www.xltechgroup.com Nomura Code SecuritiesRichard Potts, Corporate Finance Tel: +44 (0) 20 7776 1200 www.nomuracode.com XL TechGroup media enquiries:Abchurch CommunicationsHeather Salmond / Gareth Mead Tel: +44 (0) 20 7398 7700heather.salmond@abchurch-group.com www.abchurch-group.com NOTES TO EDITORS About XL TechGroup XL TechGroup is in the business of significant value creation. Working withmajor international corporate and technology partners such as AES, Procter &Gamble and leading universities, XL TechGroup first identifies global unmetmarket needs and then targets and exploits these by the systematic creation ofsuccessful, disruptive technology businesses. These new companies are builtfrom scratch, and are then managed, developed and funded by XL TechGroup throughto the point of a trade sale or a stock market listing. XL TechGroup's unique and proven methodology selects the best opportunities inorder to create one-to-two new companies annually, where each company isexpected to achieve a realisable valuation of at least US$400 million withinfour years from its creation. While an XL TechGroup company might perform astock market listing at an earlier point in this four year timeframe, XLTechGroup would retain a controlling interest and would continue to assist withthe company's development. It is XL TechGroup's aim to deliver significantshareholder distributions at the final exit from each company. XL TechGroup's companies to date are: • AgCert International plc (LSE: AGC, www.agcert.com)• TyraTech Inc. (AIM: TYR, www.tyratech.com)• DxTech LLC (www.dxtech.com)• PetroAlgae LLC (www.petroalgae.com)• QuoNova LLC (www.quonova.com) XL TechGroup has also established GenXL LLC as a joint venture to capture thevalue of those prospects that do not fully meet XL TechGroup's US$400 million,four year criteria but still demonstrate considerable potential worth. Over andabove XL TechGroup's core business model, GenXL is reviewing a significant flowof opportunities from both XL TechGroup and GEN3 in order to generate newcompanies, standalone product lines and technology licensing opportunities or anappropriate mix of these. For further information, see www.xltechgroup.com. About TyraTech, Inc. TyraTech is pioneering a new class of highly effective, non-toxic, pesticidesand anti-parasitic compounds to address global agriculture, horticulture,functional foods, healthcare and veterinary markets. Using a revolutionarychemoreceptor screening process, TyraTech has identified proprietary blends ofnatural oils that stimulate the reactions and biological behaviour of insectsand parasites so that they can be effectively repelled or killed. TyraTech'stechnology prevents the development of resistance and avoids the environmentalconcerns and human health risks of chemical solutions whilst still being atleast, if not more, effective. The Company's products have been validated through strong partnerships withmultinational conglomerates operating within a growing US$23 billion worldwidemarket that is being increasingly driven by environmental legislation andend-user demand. TyraTech continues to develop new product applications based on safe, naturalingredients with a broad range of partners around the world. For further information, see www.tyratech.com. This information is provided by RNS The company news service from the London Stock Exchange