SI Diamond Announces The Extension Of A Joint Research And Development Agreement With Futaba Corporation
Austin, Texas – November 27, 2001 – SI Diamond Technology, Inc. (OTC BB: SIDT) through its subsidiary, Field Emission Picture Element Technology, Inc. (FEPET) announced today the extension of the joint research and development agreement with Futaba Corporation (see press release of January 3, 2001). This joint research and development program consisted of the development of a carbon field emission display utilizing FEPET's proprietary intellectual property. To complete the program successfully, the parties agreed to intensify their collaboration in order to accelerate the transfer of the process to manufacturing.
This extended collaboration will be executed for six months, for which FEPET will be compensated with the lump sum of $500,000.
The parties also consented that Futaba Corporation will license FEPET's proprietary technology of carbon field emission displays on a non-exclusive basis. Futaba's decision to license and commence manufacturing of the display will depend on the future business and economical climate.
"The extension of the development program with Futaba is due to our technical achievements in controlling the deposition parameters, uniformity and electronic properties of our carbon nanotubes on ceramic and glass substrates, approaching in the near future the realization of a robust process suitable for manufacturing," said Dr. Zvi Yaniv, President and Chief Operating Officer of SI Diamond, Inc.
Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934, and is subject to the safe harbor created by those sections. The Company's actual results could differ materially from those projected in the forward-looking information. Future results may be impacted by risk factors listed from time to time in SIDT's SEC reports. SI Diamond Technology, Inc. disclaims any intent or obligation to update forward-looking information.
SI Diamond Technology is a holding company consisting of three operating subsidiaries. The wholly owned Field Emission Picture Element Technology, Inc. (FEPET) subsidiary is developing products for applications utilizing SIDT's proprietary field emission technology. The wholly owned Electronic Billboard Technology, Inc. (EBT) subsidiary is geared toward the commercialization of electronic digitized sign technology. Sign Builders of America, Inc. (SBOA), a wholly owned subsidiary of EBT is a manufacturer of high quality signage. SI Diamond Technology's website is www.sidiamond.com.
Company Contact:
Doug Baker
Applied Nanotech Holdings, Inc.
248.391.0612
dbaker(at)appliednanotech.net