OTI Greentech AG enters into distribution agreement with Wolftank Adisa GmbH

OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemicals and services for industrial applications listed on the Düsseldorf stock exchange, has entered into a distribution agreement with Wolftank Adisa GmbH.

OTI Greentech AG´s operating subsidiaries, OTI Greentech Innovative Solutions AG and Uniservice Unisafe Srl have entered into a distribution agreement with Wolftank Adisa GmbH, a 100% subsidiary of Wolftank-Adisa Holding AG, an Austrian environmental technology group for tank systems and soil remediation listed on the Munich and Vienna stock exchange. Pursuant to the agreement, Wolftank Adisa has been appointed as the exclusive distributor in selected European countries, as well as China and Russia, of OTI Greentech´s innovative ECOSOLUT product line for use in the cleaning and refurbishing of static tanks within the land-based petrochemical industry such as refineries, tank farms and fuel distribution facilities.

The agreement is for an indefinite term with expected revenues to OTI Greentech of at least EUR 300k in the first 12 months.

Joe Armstrong, CEO of OTI Greentech commented “We are delighted to be partnering with a fast growing innovative company such as Wolftank Adisa to help us increase the distribution of our very effective and environmentally friendly ECOSOLUT product range into static tank cleaning and refurbishing applications in the petrochemical industry.”

“We are very happy to cooperate with OTI Greentech AG, given their excellent and innovative products. Together we will be able to enlarge our activities in the tank refurbishing area, fueled by the rising demand in the Asian and Eastern European countries, said Dr. Markus Lechthaler, Managing Director at Wolftank-Adisa GmbH”.