March 31, 2009

Northern Technologies International Corporation (Nasdaq:NTIC) today announced the signing of multiple Research and Development (R&D) contracts with Petroleo Brasileiro S.A. -- Petrobras (NYSE:PBR) research and development group at the Leopoldo Americo Miguez de Mello Research & Development Center (CENPES). The joint team from NTIC, Petrobras and CENPES led by Mr. Marcelo Schultz of Petrobras will undertake a 20-month Petrobras funded effort to explore, understand and resolve bottom plate corrosion issues in Aboveground Storage Tanks (ASTs). A second 12-month Petrobras sponsored project has also started aimed at field trials of certain pipeline protection technologies. Read more