GelStat forms GSAC Engineering division

GelStat launched a new engineering division called GSAC Engineering, marking a milestone in the Company’s long-term turnaround plan to drive its corporate growth strategy. The Company’s senior management team has been evaluating various market opportunities that could support a tangible growth path. In parallel to market research, GelStat has been developing technology and intellectual property to support this strategy. GSACe plans to initially focus on developing innovative technology for the industrial security and renewable energy markets. In particular, the new division is pursuing two broad initiatives which include identifying technology that it plans to develop or acquire in support of new projects related to an industrial security system and the chemical recycling of plastic into fuel. Additionally, as part of its entry into the industrial security market, GelStat plans to secure intellectual property that complements its engineering capabilities in an attempt to gain a competitive advantage. The Company also expects to secure contracts with several medium-tier security facilities in the southeastern U.S. and is looking to gain market share of these types of facilities in the near future.