Integral Technologies, Inc. (OTC Pink: ITKG) operates as a proprietary electrically conductive plastics manufacturer. Shares of the electric plastics company are diving 41%, through early trading on Thursday, June 22, 2017. Over the past month, Integral Technologies, Inc. saw average daily volume of 1.03 million shares. However, volume of 17.25 million shares or dollar volume of $1.05 million, has already exchanged hands on Thursday.
Shares of Integral Technologies, Inc. are under pressure on Thursday, after the company announced that its ElectriPlast’s conductive plastic has been chosen by a leading European electric car maker. The order is set to run through 2024 and marks the second ElectriPlast order for electric vehicles so far this year. Here is the full press release detailing of the ElectriPlast selection:
Integral Technologies, Inc. Press Release:
EVANSVILLE, Ind., June 21, 2017 /PRNewswire/ — Integral Technologies, Inc. (OTC-PK:ITKG) (“Integral”), and its wholly owned subsidiary ElectriPlast Corp., today announced that its ElectriPlast material has been chosen by a leading European electric luxury SUV maker for use in a high voltage connector. ElectriPlast has been engaged with a North American automotive Tier 1 for the past year in bringing this application to market. The electric SUV is expected to make its European debut in late 2017. This marks the second ElectriPlast order for use in an electric vehicle platform so far this year.
“We are excited about winning this order with such a prestigious automaker with a globally renowned brand and appreciate the vision that our Tier 1 partner has in implementing ElectriPlast conductive plastic as part of their EMI shielding portfolio,” stated Mo Zeidan, CTO of ElectriPlast. “We never waivered in our belief that there was tremendous potential in the automotive industry for conductive plastic and this is just another validation. Now that ElectriPlast has been adopted into multiple automotive platforms, we are very well positioned to benefit from the explosive global growth of electric vehicles.” ElectriPlast is currently working with multiple Tier 1’s in implementing their EMI shielding solutions for automotive applications.
The order, which will run through 2024, is ElectriPlast’s first European automotive commercial order. Volumes for the program will be finalized once the complete global vehicle rollout plan is disclosed. Two million electric vehicles were on the road globally in 2016, that number is estimated to be as high as 70 million by 2025. ElectriPlast recently fulfilled an initial order for a separate Tier 1 for a different global auto platform. If awarded, this optical electronics application for that program will be utilized in approximately 2 million vehicles beginning with the 2018 model year.
About Integral Technologies, Inc.
Integral Technologies, Inc. (OTC-PK: ITKG) and wholly owned subsidiary ElectriPlast Corp, engage in the development, and commercialization of electrically conductive plastics used primarily in the production of industrial, commercial and consumer products. Its core material, ElectriPlast®, is a non-corrosive, electrically conductive resin-based material whose properties allow it to be molded into any of the shapes and sizes associated with plastics, rubbers and other polymers while reducing component weight by 40 to 60%. Integral is a leader in conductive plastics with a broad IP portfolio referencing its ElectriPlast technology. Applications for ElectriPlast include: Shielding, Wire, Power Electronics, Connectors, Cables, Shielding, Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Medical Devices, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, LED, and Bus bars.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company’s future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. These forward-looking statements are based on management’s current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) other factors detailed in the company’s public filings with the SEC, including, without limitation, those described in the Company’s annual report on Form 10-K for the year ended June 30, 2016 as filed with the Securities and Exchange Commission and available at www.sec.gov, and (4) the parties may be unable to agree upon definitive agreements. You are urged to consider these factors carefully in evaluating the forward-looking statements.