EL PASO, Texas, June 19, 2006 (PRIMEZONE) -- Nanoforce, Inc. (Pink Sheets:NNFC), a developer of nano-materials, new refining processes, and equipment for use in alternative and existing energy sector technologies, announces the commencement into a cooperative development agreement between subsidiary Refinery Science Corp., a Texas corporation, and the Bi-National Sustainability Laboratory (BNSL), a non-profit corporation with offices in New Mexico.
The proposed agreement, valued at approximately $150,000 over two years, is directly inline with Refinery Science's agenda to commercialize petroleum technology. Refinery Science technology includes proprietary products, processes, and devices that could efficiently convert any hydrocarbons, including heavy and sour crudes found in the Western Hemisphere, into clean fuels, making them economically competitive with Middle Eastern light crudes. This cooperative agreement will enable Refinery Science to develop and prove new, more efficient technology and increase their wide base of intellectual property in a relatively short time frame.
"This agreement poses a great fit for both organizations. It will allow Refinery Science to prove its existing technology in commercial applications without having to bear the major costs of building a new pilot plant. It also meets our agenda to boost regional economy in the area," says David Rendina; CEO, Nanoforce, Inc.
The Bi-National Sustainability Laboratory uses various strategies such as: applied research and development; technology, product, and prototype development and testing; as well as business planning, mentoring and training to assist emerging technologies to create and implement economic development efforts within the U.S.-Mexico border region.
"We're delighted here at BNSL to have Nanoforce and Refinery Science join us in this exciting new business development venture. This technology and its use is critical not only to our region, but nationally and internationally as well," says Dr. Paul Maxwell; Executive Director and CEO, BNSL.
About Nanoforce, Inc.
Nanoforce is engaged in the research, development, acquisition and commercialization of advanced materials science products and processes including nanotechnology. Nanotechnology is the science of building and manipulating materials, devices and processes on the scale of atoms and molecules (one billionth of a meter). According to market research, it is estimated that worldwide revenues from products using nanotechnology will increase to $2.6 trillion in 2014, equal to about 15% of global manufacturing output, from $13 billion in 2004 (Lux Research). Nanoforce is taking advantage of rapid innovation in materials science to meet critical needs in growing industry sectors including petroleum refining and biodiesel production. www.nanoforcetechnologies.com.
About Refinery Science Corp.
Refinery Science Corp., a wholly owned subsidiary of Nanoforce, is a material science-based petroleum technology business. The company intends to apply the benefits of its latest developments in material science and nanotechnology to provide solutions to issues associated with the production and transportation of extra heavy crude, and increase profits from refining heavy crude and residual bottoms. The Company's unique nano-materials may enable companies to profitably refine low quality crude oil, such as that from shale and oil sands that are difficult and expensive to process. www.refineryscience.com.
About Clemco Industries Inc.
Clemco Industries Inc., a subsidiary of Nanoforce, is a Canadian corporation that provides bioremediation and ancillary services to food sector establishments, with established clients and annual revenues in excess of $1 million. Clemco produces a proprietary group of micro-organisms and employs them in a unique business system that enables clients to comply with legal wastewater management requirements. www.thelegacysystem.com
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