AUSTIN, Texas, Sept. 8, 2005 (PRIMEZONE) -- Nano-Proprietary, Inc. (OTCBB:NNPP) announced that its subsidiary, Applied Nanotech, Inc. ("ANI") and one of the most advanced sporting goods companies in the world agreed to cooperate to develop nanocomposites to be utilized in the manufacturer's sporting equipment.
Technological advances using nanocomposites are being introduced by many sporting goods manufacturers to keep customers coming back for new models. Some manufacturers, for example, have begun adding fullerenes and carbon nanotubes to make the equipment stiffer, lighter, and more powerful.
In the first phase of the program, Applied Nanotech will perform a research and development program to improve the existing base materials currently used by the manufacturer. ANI will receive $240,000 for this phase, which is expected to take approximately one year.
"This is a testimony to the progress that we are making in the area of functionalized nano-materials," said Marc Eller, Chairman and Chief Executive Officer of Nano-Proprietary, Inc. "We expect several additional contracts to be completed that involve nanomaterials."
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-K/A for the fiscal year ended December 31, 2004, 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.