Nano-Proprietary, Inc. And Mitsui & Co. Ltd Announce Strategic Alliance To Commercialize Carbon Nanotube Technology
May 18, 2006 – Austin, Texas-based Nano-Proprietary, Inc. (OTC BB: NNPP), through its subsidiary, Applied Nanotech, Inc. (ANI), announced a strategic alliance with Mitsui & Co. Ltd of Japan for the development of nanotechnology businesses. The companies will work together to develop and license products based on ANI's extensive intellectual property patent portfolio and research capabilities, combined with Mitsui's worldwide business network. The main objective of these product development efforts will be to facilitate and establish pilot lines for a future manufacturing base in Japan.
The initial focus of the strategic alliance will be to identify and consummate prospective licensing and manufacturing partnerships to facilitate the commercialization of carbon nanotube (CNT) field emission technologies/products and related businesses. Mitsui will use it's extensive business relationships to identify pilot line candidates in Japan. The scope of the agreement may be expanded to other territories based on mutual agreement between the Parties.
As part of the agreement Applied Nanotech's development team will work with Mitsui's wholly- owned subsidiary Bussan Nanotech Research Institute Inc. a preeminent nanotechnology R&D organization. The main development effort will be based on market driven applications of technology through the prototype, pilot line and commercialization stages.
"We are honored to be a part of this strategic alliance. The alliance provides a unique opportunity to combine ANI's innovative technology with Mitsui & Co Ltd's resources and international corporate partners," said Dr. Zvi Yaniv, CEO of Applied Nanotech. "The individual companies will collectively work on leading technology developments and product commercialization for our mutual benefit. This agreement is a testimony to the strength of ANI's extensive intellectual property and it's commercial market value."
The alliance is structured to allow Nano-Proprietary and Mitsui & Co Ltd to contribute their individual expertise, leveraging their respective technology and corporate resources to develop nanotechnology enabled products. Working together, we will identify, define, and set the agenda, ensuring that these promising technologies proceed rapidly to commercialization.
Safe Harbor Statement This press release contains forward-looking statements that involve risks and Nano-Proprietary's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in Nano-Proprietary's annual report on Form 10-K for the fiscal year ended December 31, 2005, and in reports subsequently filed by Nano-Proprietary with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from Nano-Proprietary's web site listed below. Nano-Proprietary hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
About Nano-Proprietary, Inc.
Nano-Proprietary, Inc. is a holding company consisting of two wholly-owned operating subsidiaries. Applied Nanotech Inc. is a premier research and commercialization organization dedicated to developing applications for nanotechnology, with extremely strong positions in the fields of electron emission applications from carbon film/nanotubes, sensors technologies, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) possesses technology related to electronic digitized sign and advertising technology. The Companies have over 200 patents or patents pending. Nano-Proprietary's website is www.nano-proprietary.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