NEW YORK, March 3, 2005 (PRIMEZONE) -- Advance Nanotech, Inc. (OTCBB:AVNA), a Company specializing in the acquisition and commercialization of nanotechnology, has today joined global businesses: ALPS Electric Company Limited, Dow Corning Corporation and Marconi Corporation plc, to jointly fund a portfolio of strategic research and development work in electrical engineering at the University of Cambridge.
The new Centre for Advanced Photonics and Electronics (CAPE) will unite Advance Nanotech Inc., Alps Electric Company Limited, Dow Corning Corporation and Marconi Corporation plc with leading researchers in the Electrical Engineering Division of the Department of Engineering at the University of Cambridge. CAPE will house the Electrical Division of the engineering department, comprising over 22 academics, 70 post-doctoral researchers and over 170 researchers. Members of the Division publish more than 100 papers each year and in the recent past approximately 70 patents have been filed and 10 spin-out companies have been formed.
Professor Bill Milne will lead this unique consortium, which will address the supply chain in electronics and enable effective transfer of knowledge. Substantial grants from the Higher Education Funding Council for England (HEFCE) through its Science Research Investment Fund (SRIF) are supporting the construction of a purpose-built CAPE building on the University's growing science and technology campus at West Cambridge. Construction of the new building is underway and scheduled for completion in early 2006. Professor Milne commented, "We welcome Advance Nanotech as a Strategic Partner to CAPE. Advance Nanotech provides us with additional and innovative commercialization opportunities for the technologies that we develop, with a particular emphasis on nanotechnology."
Commenting on the agreement, Magnus Gittins, Chief Executive Officer of Advance Nanotech said: "We are very pleased to be working as a Strategic Partner alongside the University of Cambridge and CAPE's existing business Partners. The CAPE structure will allow for the cost-effective development of multiple new technologies. Alongside ALPS, Dow Corning and Marconi, we look forward to ensuring the successful commercialization of many of these pioneering efforts."
About Advance Nanotech Inc
Advance Nanotech, Inc. ("Advance") commercializes innovative nanotechnologies. Operating in three areas, electronics, biopharma and materials, Advance leverages relationships with financial and development resources to enable a product-focused fast-track commercialization of nanotechnology. Advance has established relationships with academic institutions throughout the world that are at the forefront of nanotechnology research and development. Advance's objective is to invest in patented innovation to bridge early stage product development with valuable markets.
About the University of Cambridge
The University of Cambridge's reputation for outstanding academic achievement is known worldwide and reflects the intellectual achievement of its students, as well as the world-class original research carried out by the staff of the University and the Colleges.
As Cambridge approaches its eight hundredth anniversary in 2009, it is looking to the future. It continues to change in response to the challenges it faces. The modern University is an international centre of teaching and research in a vast range of subjects: about half of the students study science or technology. Members of the University have won over sixty Nobel Prizes.
About the Centre for Advanced Photonics and Electronics
CAPE, the Centre for Advanced Photonics and Electronics, is a new, inter-disciplinary facility providing over 4,800 square meters of state-of-the-art research and laboratory space. CAPE's development interests span "end-to-end" new technology development, from materials to components and sub-systems to finished systems. Areas of focus include biomedical systems, communications, sensors and power systems.