WILMINGTON, Del., April 11, 2007 (PRIME NEWSWIRE) -- Third-Order Nanotechnologies, Inc. (Pink Sheets:TDON) announced today that Mr. Hal Bennett, the company's most recently appointed member of its board of directors, has agreed to serve as the company's chief executive officer. The move is made as part of ongoing efforts to prepare the company to commercialize fiber optic communications components based on the company's breakthrough polymer lightwave switching technology.
"This is one of the most exciting projects I have been involved with in my career," said Mr. Bennett. "The company's relatively small team of scientists has made a breakthrough that hundreds of people involved in decades of research have been unable to attain. I believe that the company's breakthrough technology forms the basis of a whole new generation of fiber optic communications hardware, and in my opinion, the timing couldn't be better. Fiber communications carriers are expecting a major upgrade to their infrastructure over the next several years to keep up with growth in demand driven in large part by internet video, and I expect the company's breakthrough polymer lightwave switching technology be part of that upgrade."
The addition of Hal Bennett as Third-Order's chief executive officer comes on the heels of a similar expansion of the company's technological breadth, including the addition of Terry Turpin (CTO of Essex Corporation, a subsidiary of Northrop Grumman, and father of Hyperfine Wavelength Division Multiplexing) to the scientific advisory board, and a technology partnership agreement with Photon-X LLC, a leader in nanofabricated polymer waveguide optical circuits.
For over a decade, Mr. Bennett has acted as a corporate restructuring advisor for large high-tech corporations, including DuPont, Silicon Graphics, 3M and Sun Microsystems. Most recently, Mr. Bennett successfully implemented a program for DuPont to outsource innovation by creating a new business model for DuPont Ventures. He started his restructuring career by turning around Research Systems, a scientific software company, which was acquired by Kodak two years subsequent to his involvement with that company. Before that, he gained extensive experience in starting and growing companies in Silicon Valley, including Aprex, West End Partners Imaging and Digital Research. Mr. Bennett has a degree in Mathematical Physics from Stanford University and is named on several U.S. Patents.
About Third-Order Nanotechnologies
Third-Order Nanotechnologies is emerging from a development stage research and development company with commercial introduction of its high-activity, high-stability organic polymers for applications in electro-optic and all-optical device markets. Electro-optic devices convert data from electric signals into optical signals for use in high speed communications systems and in optical interconnects for high-speed data transfer. All-optic devices, while still some time from commercial application, control the flow of light with optical (not electric) signals.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.