I wish I could take credit for this post, but I'm sharing it with everyone as I too think these are major points from today's NR.

*AirTest Technologies (TSXV: AAT) is pleased to announce that its plan to acquire the proprietary rights to a revolutionary technology in gas sensing is in its final stages.

*Major components to a final agreement have been agreed to in a revised Memorandum of Understanding, including confirmation that negotiations with the inventor have become exclusive with AirTest.

*Another important step has been completed in the form of a third-party verification of the technology that has recently been conducted by Oak Ridge National Laboratories as part of the due diligence process.

*The infrared measurement of gases is a well-established technology that has been in widespread use for over 60 years in industrial, medical, scientific and commercial applications.

* According to Mike Schell, VP of business Development AirTest "This gives the company an opportunity to supply better more cost effective technology to existing companies targeting safety, environmental and process control applications. It also enables us to enter a number of multi-million dollar markets by working with companies needing various gas sensing technologies in high volume consumer, commercial and appliance applications."

*As part of the due diligence process undertaken by Airtest, Oak Ridge National Laboratories (ORNL), based in Oak Ridge, Tennessee was asked to provide a third party assessment of this new sensor approach.

* In reviewing this new technology Oak Ridge found that this new "NDIR (Non Dispersive Infrared) sensor design addresses the central weakness in NDIR sensors - calibration stability, by eliminating sensor drift."

According to George Graham, President of AirTest, "We expect to finalize the exclusive license agreement for this technology in the very near future." Graham added "We are withholding the name of the inventor of the new technology for public release until we have finalized a definitive agreement."