Innovative Designs Receives Patent for Propriety Process With Low Density Foam

Rhea-AI Summary

Innovative Designs (IVDN) announced that the United States Patent and Trademark Office (USPTO) issued Patent # 11,623,375 B2 on April 11, 2023, for their proprietary method of forming closed and evacuated cell expanded low density foam. This patent, which follows a January 2023 Notice of Allowance, is crucial for the company’s Insultex® insulation product, as stated by CEO Joseph Riccelli. The patent is expected to lead to significant growth opportunities in various markets, including apparel. Investors should note the implications of this patent in driving future revenue streams for Innovative Designs.

Positive

• Issuance of Patent # 11,623,375 B2 confirms the proprietary process for low density foam.
• CEO mentions potential for unprecedented growth into apparel and other markets.

Negative

• None.

Pittsburgh, PA, April 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Innovative Designs (IVDN) is pleased to announce that on April 11, 2023, the United States Patent and Trademark Office (USPTO) has issued Patent # 11,623.375 B2 defining our proprietary process for forming closed and evacuated cell expanded low density foam is entitled to patent protection.  The USPTO first issued in January 2023 a Notice of Allowance and the patent was issued accordingly. 

Innovative Designs CEO Joseph Riccelli commented, “This is a key milestone and validation for our Insultex® insulation. Now that this patent is in place, we anticipate unprecedented growth into apparel and many other markets.”

Disclaimer - Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at http://www.sec.gov.

Joseph Riccelli
412-799-0350
joer@idigear.com

FAQ

What is Patent # 11,623,375 B2 issued to Innovative Designs (IVDN)?

Patent # 11,623,375 B2 protects Innovative Designs' proprietary method for forming closed and evacuated cell expanded low density foam.

How might the new patent impact Innovative Designs' stock (IVDN)?

The new patent could lead to increased revenue opportunities and market expansion for Innovative Designs, potentially positively impacting the stock.

When was the patent for Innovative Designs issued?

The patent was issued on April 11, 2023.

What market does Innovative Designs (IVDN) expect to grow into with the new patent?

Innovative Designs anticipates unprecedented growth into the apparel market and other sectors.