AUSTIN, Texas, Feb. 9, 2005 (PRIMEZONE) -- Austin, Texas-based Nano-Proprietary, Inc. (OTCBB:NNPP), through its subsidiary, Applied Nanotech, Inc. (ANI), today announced that it has entered into a research and development agreement with Shimane Institute for Industrial Technology (SIIT) to develop a new aluminum alloy using carbon nanotubes that has thermal conductivity 4-5 times greater than aluminum metal. SIIT is a technology organization fully supported by the government of Shimane Prefecture, Japan.
This agreement is a result of international cooperation between Shimane Prefecture and the State of Texas. This relationship was initiated in January 2004 by the Governor of Texas, Mr. Rick Perry, and the Governor of Shimane Prefecture, Mr. Nobuyoshi Sumita, with the goal of enhancing the cooperation in nanotechnology between Shimane and Texas companies for economic development and job creation in both regions.
Under the terms of the agreement, SIIT will pay ANI $30,000 over a period of 6 months to develop and engineer a process to manufacture thin foils of aluminum alloys having superior thermo-conductivity. Applications include any microelectronic device that generates heat, including circuit boards for computers and high powered radar. These alloys can also improve the strength of the aluminum without adding weight.
"We are very pleased that SIIT will join Shimane Masuda Electronics (see press release of October 20, 2004) to build a strong relationship with our company under the extended umbrella of the relationship between the State of Texas and Shimane Prefecture initiated by Governor Perry and Governor Sumita," said Mr. Marc Eller, Chief Executive Officer of Nano-Proprietary, Inc.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning 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-KSB for the fiscal year ended December 31, 2003, 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 an extremely strong position in the field of electron emission applications from carbon film/nanotubes. Electronic Billboard Technology, Inc. (EBT) possesses technology related to electronic digitized sign technology. Nano-Proprietary's website is www.nano-proprietary.com.