Hydromer, Inc. Announces the Restructuring and Formation of World-Class Research and Development Division to Drive Innovation and New Product Development

Rhea-AI Summary

Hydromer, Inc. (OTC: HYDI), a leader in hydrophilic coating technologies, has announced the formation of a new Research and Development (R&D) division. This restructuring introduces a world-class science team focused on innovation and performance, adding two Ph.D. chemists and one M.S. chemist. Dr. Yonghua Zhou, Ph.D. in Polymer Science, will lead the team, bringing extensive experience in polymer science and new product development.

The company aims to enhance product offerings, improve operational efficiency, and drive future growth. Under new executive leadership, Hydromer has refocused on improving financial reporting, enhancing operational efficiencies, and advancing coating technologies. The R&D team will work on developing advanced coatings that are more durable and environmentally friendly, addressing growing regulatory restrictions on harmful solvents.

CEO Mike Torti stated that this strategic move is expected to reposition Hydromer as a leader in product development and innovation, opening new doors and markets for the company's growth.

Positive

• Formation of a new world-class Research and Development division with highly qualified chemists
• Potential for improved product offerings and operational efficiency
• Focus on developing advanced, environmentally friendly coatings
• Aim to address growing regulatory restrictions on harmful solvents
• Potential for opening new markets and driving company growth

Negative

• None.

·       Company introduces a top-tier team of chemists to lead innovation in hydrophilic coatings and develop cutting-edge, environmentally friendly solutions

·       Restructured R&D division, under new leadership, aims to enhance product offerings, improve operational efficiency, and drive future growth

CONCORD, N.C. , Oct. 21, 2024 (GLOBE NEWSWIRE) -- Hydromer, Inc. (OTC: HYDI), a leader in hydrophilic coating technologies for medical and industrial applications for over 44 years, is excited to announce the formation of a new Research and Development (R&D) division. This restructuring introduces a world-class science team focused on innovation and performance, adding two Ph.D. chemists and one M.S. chemist. Leading the team is Dr. Yonghua Zhou, Ph.D. in Polymer Science from the University of Massachusetts at Lowell. Dr. Zhou brings an impressive background in polymer science, having led new product development activities at InnoPoly Biotech, Kraton Polymers, and Innovia LLC.

Joining Dr. Zhou in forming the company’s new research and development team are Mr. Ashutosh Upadhyay and Ms. Mengxue Zhang. Mr. Upadhyay brings over 30 years of polymer science experience, including serving for more than 15 years as Senior Material Development Chemist at Dana Corporation. He holds an M.S. degree in Chemistry from Agra University (India). Ms. Zhang, a Ph.D. in Chemistry from the University of South Carolina, and M.S. in Polymer Engineering from the University of Akron, focused her studies on controlling nanoparticle distribution within polymer coatings. These new team members solidify the company’s commitment to innovation and advanced product development.

Hydromer’s Enhanced Focus on Innovation and Efficiency

Under its new executive leadership, Hydromer has refocused its efforts on improving financial reporting and record-keeping, enhancing operational efficiencies, and advancing the science behind its current and future coating technologies. Recognizing the need for both product improvement and innovation to meet customer demands, the company has assembled this highly credentialed team to revitalize legacy products and create new solutions for evolving market needs. With Dr. Zhou's experience and leadership, the R&D team aims to develop advanced coatings that are both more durable and environmentally friendly, addressing the growing regulatory restrictions surrounding harmful solvents.

“We are excited to introduce this new science team, which will reposition Hydromer as a leader in both product development and innovation,” said CEO Mike Torti. “While our hydrophilic coatings have provided a strong foundation, it’s time to elevate our offerings - improving existing products and creating new technologies that meet today’s industry demands. We anticipate that these developments will open new doors and markets for the company’s growth.”

Hydromer’s revitalized focus on R&D is expected to drive the creation of cutting-edge coating systems designed to improve lubricity and durability across a range of medical and industrial applications. With this strategic step, Hydromer not only aims to stay competitive but also to lead in developing solutions for the future.

About Hydromer

Hydromer, Inc. is an ISO 9001:2015 global business-to-business (B2B) surface modification and coating solutions provider offering polymer R&D and manufacturing services capabilities for a wide variety of applications. We are domiciled in Concord, NC. Our customers are located across the United States, Europe and Asia-Pacific. Our facilities are U.S. Food and Drug Administration (FDA), Good Manufacturing Practice (GMP), International Organization for Standardization (ISO) 13485, and International Organization for Standardization (ISO) 9001 compliant. For over four decades, the Company has developed value-added solutions to serve businesses in domestic and international markets in a wide range of industries. We manage numerous global B2B services such as coating services, research and development, analytical testing, technology transfer, and dedicated machinery building, installation, and support. We have successfully developed numerous proprietary formulations and hold patents worldwide.

Contact:  Info@hydromer.com

Forward-Looking Statements

The statements contained in the above communication that are not historic facts are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. For example, if our actual results differ materially from those contemplated by the forward-looking statements the trading price of our common stock could decline, and investors in our securities may lose all or part of their investment.

FAQ

What is the purpose of Hydromer's new Research and Development division?

Hydromer's new R&D division aims to drive innovation, improve existing products, and develop new cutting-edge, environmentally friendly coating solutions to meet industry demands and regulatory requirements.

Who is leading Hydromer's new Research and Development team?

Dr. Yonghua Zhou, Ph.D. in Polymer Science from the University of Massachusetts at Lowell, is leading Hydromer's new R&D team. He brings extensive experience in polymer science and new product development.

How does Hydromer (HYDI) plan to improve its competitive position in the market?

Hydromer plans to improve its competitive position by enhancing product offerings, improving operational efficiency, and developing advanced coatings that are more durable and environmentally friendly, potentially opening new markets for growth.

What are the key focus areas for Hydromer's new Research and Development team?

The key focus areas for Hydromer's new R&D team include revitalizing legacy products, creating new solutions for evolving market needs, and developing advanced coatings that are more durable and environmentally friendly while addressing regulatory restrictions on harmful solvents.