Won S, Choe V.P. Business Development Hanwha L&C (L); William Robinson Chairman & CEO Integral Technologies (R) (Photo: Business Wire)

Integral Technologies, Inc. (OTCBB:ITKG), an emerging leader in hybrid conductive plastics, announced today the signing of a Letter of Intent (“LOI”) with Hanwha L&C of Korea that contemplates granting Hanwha L&C certain rights to manufacture and distribute Integral’s signature ElectriPlast™ technology in various parts of Asia. Integral is the original researcher, developer and 100% owner of all intellectual property surrounding the ElectriPlast™ technology, and markets the ElectriPlast™ product through Integral’s wholly owned subsidiary, ElectriPlast™ Corp.

Won S, Choe V.P. Business Development Hanwha L&C (L); William Robinson Chairman & CEO Integral Technologies (R) (Photo: Business Wire)

Hanwha L&C's desire to enter into an LOI followed the results of independent testing of ElectriPlast™ that took place over the past few months. Testing for conductivity, shielding (both electric and electro-magnetic) and mechanical strength all met or exceeded Hanwha L&C's demanding requirements.

The LOI with Hanwha L&C represents Integral's potential expansion into Asia. “We are excited to possibly have a strategic partner like Hanwha L&C manufacture and distribute ElectriPlast™ in the large regional manufacturing Asian base,” said William Robinson, Integral’s Chairman & CEO. “We appreciate that Hanwha L&C understands the uniqueness of the revolutionary technology behind our conductive pellet, and we recognize the value to Integral to potentially have such a respected strategic partner like Hanwha L&C with its multitude of Asian marketing channels.” Specifically, the LOI contemplates Integral and Hanwha L&C entering into definitive agreements granting an exclusive license to manufacture and distribute ElectriPlast™ in Korea. The LOI further contemplates a non-exclusive license to distribute ElectriPlast™ in China, Japan and Taiwan, as well as a right of first refusal to extend the exclusive license to manufacture in Korea to China, Japan and Taiwan and to make the non-exclusive license to distribute in China, Japan and Taiwan an exclusive license.