Applied Nanotech, Inc. And Mitsui & Co. Ltd. Announce A Memorandum Of Understanding
Austin, Texas – January 28, 2003 – SI Diamond Technology, Inc. (OTC BB: SIDT) through its subsidiary, Applied Nanotech Inc. (ANI) today announced that it has signed a memorandum of understanding with MITSUI & CO. LTD., one of the largest trading houses in Japan. In this memorandum, the parties agreed to study the possibility of the formation of a strategic partnership for the development, manufacturing, and commercialization of nanotechnologies and to take advantage of the technology expertise and resources of both parties. This study is expected to be completed within two months. ANI has an extensive intellectual property portfolio in the field of nanotechnology and a well- trained and well-managed nanotechnology R&D team. MITSUI & CO. LTD. has an outstanding ability to accelerate applications of the technology, manufacturing of products using the technology, and to achieve commercialization quickly and efficiently. Furthermore, MITSUI & CO. LTD.'s global reach will greatly enhance the chances for worldwide marketing success.
The parties also agreed to jointly exhibit at the Nanotech 2003 Conference at Nippon Convention Center in Japan from February 26-28, 2003. ANI will present its new products and new achievements in nanotechnology in the Mitsui & Co. Ltd. booth. These products will include new CNT (carbon nanotube) electron sources in both diode and triode mode, nanoparticle sensors (hydrogen, humidity and ammonia), miniature x-ray tubes using CNT cathodes, and new nanomaterials (silicon quantum dots, magnetic CNTs, CNT composites with improved electron emission properties, etc.). ANI will also present new processes that utilize its proprietary carbon nanotube technology in manufacturing very large area color TVs (over 60" diagonal), and demonstrate the progress in the development of its HyFEDTM technology.
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's subsidiary, Applied Nanotech, Inc. (ANI) is one of the leading nanotechnology companies utilizing the unique properties of existing elements when their size becomes nanometric. ANI has a very strong intellectual property base (almost 100 issued patents) and has an extremely strong position in the field of electron emission applications from carbon film/nanotubes. Its commercialization strategy involves the creation and utilization of new functional materials, devices and systems based on the unique function and properties of nanometric sized elements. The core competencies of ANI include: single- and multi-wall carbon nanotubes and their use in display applications (field emission displays), diode and triode type electron sources, x-ray equipment, etc., fabrication of nano-sized materials and particles, such as silicon nanocrystals, carbon nanotubes, nanowires, carbon nanotube composites, magnetic carbon nanotubes, etc., use of new nano-sized materials and nanoparticles in sensor applications for hydrogen, humidity, ammonia, and others, nano- electronic devices such as vacuum nano-transistors, ultra-capacitors, microwave matrix sources, etc.
SI Diamond Technology's website is www.sidiamond.com.
MITSUI & CO. LTD.'s website is www.mitsui.co.jp
Company Contact:
Doug Baker
Applied Nanotech Holdings, Inc.
248.391.0612
dbaker(at)appliednanotech.net