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It's all small stuff for Nanophase Technologies, which develops and sells nanocrystalline materials. These ceramic or metallic materials are measured in nanometers (billionths of a meter) and used in anti-abrasive polymers for oil drilling and in semiconductor polishing slurries. The company's nanocrystalline materials also are used to produce ceramic mechanical seals and medical device housings, sunscreens and cosmetic colorants, and industrial catalysts. The company has collaborative relationships with key customers such as Dow Chemical and DuPont.
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NANOPHASE APPLAUDS WHITE HOUSE NANOTECHNOLOGY INITIATIVE FRIDAY, FEBRUARY 04, 2000 11:49 AM
- PRNewswire
BURR RIDGE, Ill., Feb 4, 2000 /PRNewswire via COMTEX/ -- The recent Clinton administration fiscal 2000 budget request, which includes a National Nanotechnology Initiative and increased funding for science and nanotechnology research, was noted by Nanophase Technologies Corporation (Nasdaq:NANX), a leader in nanomaterials and nanoengineered products, as an important step in the recognition of nanotechnology.
"We're excited to see nanotechnology recognized as a major technological frontier that has tremendous potential to enable the development of many materials and an array of new technologies," said Joseph Cross, president and CEO. "As one of the few publicly held corporations engaged in developing nano-solutions, we have been crusading for a broader recognition of the potential offered by advanced materials that deliver dramatically better performance and capabilities than ordinary materials.
"Our customers recognize the potential, and that is why we continue to see an increase in the number of development and manufacturing contracts for nanoengineered materials. It's gratifying to see a more global recognition of the importance of this technology. As a publicly held company, Nanophase presents individuals with one of the few opportunities to directly invest in this exciting opportunity. We feel positive about the strong lead we have in the field of nanoengineering, our increasing number of relationships with leading companies, and the quality and number of patents we have."
The National Nanotechnology Initiative The initiative was launched in late January with the following announcement: "The Administration is making this major new initiative, called the National Nanotechnology Initiative (NNI), a top priority. The emerging fields of nanoscience and nanoengineering -- the ability to manipulate and move matter -- are leading to unprecedented understanding of the fundamental building blocks of all physical things. These developments are likely to change the way almost everything -- from vaccines to computers to automobile tires to objects not yet imagined -- is designed and made.... Nanotechnology is the new frontier and its potential impact is compelling. Some of the potential breakthroughs that may be possible include:
-- Making materials and products from the bottom-up, that is, by building
them up from atoms and molecules. Bottom-up manufacturing should
require less material and pollute less;
-- Developing materials that are 10 times stronger than steel, but a
fraction of the weight for making all kinds of land, sea, air and space
vehicles lighter and more fuel efficient." "It is interesting and perhaps prophetic that we are today manufacturing the very nanoengineered products that the Administration refers to as an exciting future possibility," said Cross. "We break materials down to their atomic level and then rearrange atoms to give them advanced properties. For instance, our ceramic process creates a material that is lighter and more durable than steel. While it's exciting to see our work called 'futuristic,' it also shows that a lot of people don't know about us. That means we have many opportunities to introduce our capabilities and technology to corporations around the world, and lead the drive to make these advanced materials reality, not science fiction."
Cross said that the Administration's initiative is supported by requests for additional federal funding for research. "I am not sure that as a publicly held, for-profit corporation, Nanophase could derive significant direct benefit from such funding, however, the indirect effects could be substantial," explained Cross. "More research and support could lead to greater visibility for nanotechnology, new discoveries, and more advanced education and training for the next generations of nanoengineers -- people we would be delighted to employ in the future. This visibility will also enlighten our future customers to the potential applications of nanomaterials in their markets."
Nanoengineering Update in Coatings, Catalysts, and Ceramics Nanophase's vision is to apply nanotechnology to help its customers develop advanced nanoengineered solutions that deliver a quantum leap in performance. Nanophase is currently focused on developing nano-solutions for three key markets: coatings, catalysts and ceramics. Additional market initiatives will be added during 2000.
The coatings market includes conductive applications for static and radiation protection, UV protection (UV resistance and filtering), abrasion resistance, and IR attenuating coatings. In each area, the company has established relationships with major customers for proprietary applications, including development and subsequent supply agreements, and has programs in progress across the spectrum from development to manufacturing.
Catalysts can deliver a number of superior properties from the intrinsic attributes of nanoparticles, for example small particle size and large surface area. The company has at least two significant efforts now under way, including a proprietary application for an environmental catalyst and one for a chemical catalyst, and is exploring other opportunities.
Ceramics, another market where Nano-particle size provides appreciable value, began to demonstrate considerable progress beginning in the second half of 1999. The company has completed testing of several proprietary Nano-formulations for the cutting tool market, and demonstrated significantly improved performance in laboratory testing. In partnership with a major ceramics manufacturer, Nanophase's development has been undergoing customer field trials.
Nanophase Continues to Win Patents, Trademarks In 1999, the company added significantly to its intellectual property base. The Japanese patent office granted a basic technology patent covering the method and apparatus for making nano-structured material, which protects the company's technology in this area. The U.S. Trademark and Patent Office has granted us registration for the NanoGard(R) trademark for health care products. The company also applied for registration of its NanoShield(TM) designation for various innovative protective coatings under development. The company also received notice that the U.S. Trademark and Patent Office allowed two patents covering surface modification of nanoparticles, which allows the company to tailor the surface chemistry of particles for a broad range of electronic, optical and chemical behavior. Currently, Nanophase owns or licenses over 20 U.S. and international patents covering a variety of manufacturing processes and engineered materials, and additional applications patents are pending.
"We are pleased that the potential power of nanotechnology is being more widely recognized, and we are excited about the opportunity that Nanophase has as one of the pioneers in this new technological frontier, " concluded Cross. "Perhaps the company has been somewhat ahead of its time, however, now we feel that we have reached a watershed moment in which the potential of advanced materials is widely recognized and accepted."
Nanophase Technologies Corporation provides engineered solutions utilizing nanocrystalline materials for a variety of industrial product applications. Using proprietary technology to produce nanocrystalline materials, the company creates products with unique performance attributes. The company's global customer base includes a number of Fortune 500 companies. Nanophase trades on the Nasdaq NMS under the symbol "NANX." Visit the company's web site at www.nanophase.com . Nanophase will announce earnings for the fourth quarter and fiscal 1999 on February 16 followed by a conference call at 10:00 a.m. CST, which will be broadcast on Vcall. For information on how to "attend" this virtual conference call, go to www.vcall.com.
The words "expect," "believes," "plans," and similar expressions are intended to identify forward looking statements. Statements contained in this news release that are not historical facts are forward looking statements that are made pursuant to the Safe Harbor Provisions for the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this news release. These important factors include, without limitation: demand for, and acceptance of, the company's nanocrystalline materials; changes in development and distribution relationships; the impact of competitive products and technologies; and other risks indicated in the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission. Except as otherwise required by Federal securities laws, Nanophase undertakes no obligation to update or revise these forward looking statements to reflect new events or uncertainties.
For Additional Information on Nanophase Technologies by fax at no cost, Dial 1-800-PRO-INFO, Code NANX.
SOURCE Nanophase Technologies Corporation