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The Quantum Group, Inc. Acquires UTEK's Advanced Recycling Sciences, Inc. Subsidiary

30 June 2000

The Quantum Group, Inc. Acquires UTEK's Advanced Recycling Sciences, Inc. Subsidiary

    PLANT CITY, Fla. - UTEK Corporation, a U2B business development company dedicated to building a strong bridge between university technology and commercial organizations, announced that The Quantum Group, Inc., Tustin, CA, has acquired UTEK's Advanced Recycling Sciences, Inc. subsidiary.

    ARS obtained the worldwide exclusive license to a patented rubber recycling technology that uses chemical processes under supercritical conditions. This new technology facilitates the production of commodity chemicals from recycled automobile tires, and was developed by Dr. Jagdish Dhawan at the University of South Alabama.

    The Quantum Group, Inc. brings to market equipment and new technologies for the profitable recycling of automobile tires in an environmentally friendly manner.

    UTEK is a U2B business development company that acquires, finances and funds the further development of university-based intellectual capital for technology firms.