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A Brief Company History
Platinum Research Organization (PRO) was founded by John
T. “Cork” Jaeger, Jr., and F. Conrad Greer as a joint
venture in 1996. Jaeger and Greer shared a vision for
designing, developing and commercializing patented, high-performance
additives for lubricants and coatings. Soon after the
founding of PRO, research began which eventually led to
the development of the company’s line of proprietary additives,
which is known collectively as TechroBond™. |
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| TechroBond can be beneficial in a wide
range of industrial applications, but its initial targeted
markets include the following: |
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* Engine oils
where it will extend the effective life of catalytic converters,
reducing harmful emissions, and where it enhances the
antiwear performance of the oil.
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Industrial greases where it increases the anti-wear and
extreme pressure (EP) performance of greases and reduces
their cost by replacing or reducing molybdenum-based additives.
* Coatings and paints where
it can improve performance and replace environmentally
hazardous materials. |
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| Over the intervening years, the legal
entity known as PRO has evolved from a joint venture to
a limited partnership and again into a limited liability
company. (See timeline.) In 1999, the private equity firm,
EFO Holdings, LP, became a shareholder in PRO. After gradually
becoming more involved in the company over the intervening
years, EFO acquired PRO in 2004. In 2006 PRO merged with
the publicly traded NorthTech Corporation. The resulting
entity, Platinum Research Organization, Incorporated,
is traded on the Over-the-Counter (OTC) board of NASDAQ.
Throughout its history, PRO has obtained funding through
a number of private placements. |
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| PRO’s business model has evolved from one
dedicated to developing proprietary additive technology
which generates revenue via licensing arrangements to
a firm that produces additives and sells these products
to companies that blend them with their engine oils, industrial
greases and other end products. |
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| PRO
collaborates with the University of Texas at Arlington
for the research and development of products, as well
as for the testing of its formulations. The company also
has retained a number of industry experts who have been
instrumental in the development and certification of its
chemical additives. |
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The
global certification of a new chemical, such as the innovative
compound that is included in PRO’s TechroBond, can be
arduous and time consuming. In 2007, PRO marked a major
milestone when TechroBond was reviewed and certified by
the Environmental Protection Agency, clearing TechroBond
for production and distribution in the USA. PRO is pursuing
certification in the European Union and the current schedule
calls for registration filings to be undertaken soon in
key Pacific Rim countries, including Japan and China.
In addition, PRO achieved its first step toward global
commercialization of TechroBond by signing a worldwide
distribution agreement with R.T. Vanderbilt Company for
the industrial greases market.
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