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Luna announces agreement to commercialize new self-cleaning textile technology



  Luna announces agreement to commercialize new self-cleaning textile
  technology

    Company grants exclusive license to UltraTech International to market
                repellent that protects clothing from liquids

Business Wire

ROANOKE, Va. -- November 4, 2013

Luna Innovations Incorporated (NASDAQ: LUNA) today announced an agreement
granting UltraTech International Incorporated an exclusive license to
commercialize Luna’s new textile repellent technology that can protect first
responders from pathogens and industrial workers from contaminants, as well as
address the common problem of keeping fabric clean.

Under the agreement, Luna will license exclusive rights to UltraTech to
commercialize the technology while UltraTech will bring it to production and
market it through its global sales channels. The commercialization potential
for the technology is broad, as it may be sold as a standalone product that
can be applied to textiles or as treated fabric with the technology embedded.

The proprietary chemical technology uses a nanostructured textile coating to
create an omniphobic treatment that repels both water- and oil-based liquids
so they roll off without penetrating the underlying fabric. This technology
provides protection against contaminants and can also make clothes last longer
and reduce laundering – a potentially significant cost savings for both
households as well as large organizations such as the U.S. military and oil &
gas operations.

The innovation first came about from research that Luna completed under a U.S.
Army contract awarded through the Small Business Innovation Research (SBIR)
program to develop self-cleaning uniforms based on the use of omniphobic
coatings, which are coatings that do not allow water, oils, solvents, or
chemicals to wet the surface. In UltraTech, Luna has now found a partner to
take its technology to market.

“This commercialization agreement is important for two key reasons,” said My
Chung, CEO of Luna. “First, it represents a commercialization success story
for us, with the recognition that our breakthrough technology is now ready for
the commercial marketplace. Additionally, it demonstrates how Luna’s
involvement in the SBIR program guides the development of our technology to
solve specific needs, which can then be applied to meet commercial market
demands.”

“Luna’s technology effectively complements our current advanced technology
product offerings,” added Mark Shaw, Co-President of UltraTech, based in
Jacksonville, Fla. “We’re pleased to partner with Luna, a leader in technology
development, to advance their patent-pending textile treatment that we expect
will have many commercial and military applications. With our experience in
introducing new products and a global sales channel that matches needs with
solutions, we look forward to bringing this innovative coating to market.”

Inspired by nature, Luna’s fluid-resistant coatings are based on hierarchical
particles composed of commercially available materials. The particles are part
of a water-based solution coated onto textiles to create omniphobic fabrics.
The self-cleaning coatings can be applied over other treatments to a variety
of synthetic and natural fabrics using conventional textile finishing
processes on a large scale. Fabrics treated with the technology are
breathable, lightweight, self-cleaning and durable under harsh conditions.

About UltraTech

UltraTech International Incorporated, based in Jacksonville, Fla., was formed
in 1993 with one goal in mind: to create the world’s finest offering of spill
containment and spill response products. Since then, its vision has expanded
into additional product categories and the company now features a product line
that consists of over 300 unique products. UltraTech recently formed an
Advanced Technology Group (ATG) to bring nano and other advanced technologies
such as the Luna product to market. Ultra-Ever Dry was the first product
offering from this group. UltraTech introduces an average of 20 new products
per year and is credited with nearly 60 patents. Their lines of “problem
solver” products are market leaders in many categories. UltraTech’s products
are sold globally through an extensive network of safety, industrial and
environmental products distributors.

About Luna

Luna Innovations Incorporated (www.lunainc.com) is a public company comprised
of scientists, engineers, and business professionals developing and
manufacturing a new generation of technologies and products. It has been
successful in taking innovative technologies from applied research to product
development and ultimately to the commercial market; driving breakthroughs in
fields as diverse as healthcare, telecommunications, aerospace, energy,
automotive, and defense.

Forward Looking Statements

This release includes information that constitutes “forward-looking
statements” made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995, including statements regarding, but
not limited to: product capabilities, infrastructure deployment, technological
attributes, advantages and applications, and customer use. Statements that
describe the company’s business strategy, goals, prospects, opportunities,
outlook, plans or intentions are also forward-looking statements. Actual
results may differ materially from the expectations expressed in such
forward-looking statements as a result of various factors, including
technological challenges in specific applications and risks and uncertainties
set forth in the company’s periodic reports and other filings with the
Securities and Exchange Commission. Such filings are available at the SEC’s
website at http://www.sec.gov, and at the company’s website at
http://www.lunainc.com. The statements made in this release are based on
information available to the company as of the date of this release and Luna
Innovations Incorporated undertakes no obligation to update any of the
forward-looking statements after the date of this release.

Contact:

Luna Innovations Incorporated
Dale Messick, 1-540-769-8400
IR@lunainc.com
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