AUSTIN, Texas, May 22, 2012 (GLOBE NEWSWIRE) -- Applied Nanotech Holdings, Inc. (OTCBB:APNT) is pleased to announce the hiring of Alan Jernigan as CEO of a new subsidiary focused on sensor commercialization. The formation of a separate subsidiary is part of Applied Nanotech's growth plan to increase revenues and accelerate the commercialization process by focusing on specific technologies.
The new company will bring to the sensor industry the unique advantages of nanotechnology through its ability to manipulate materials at the molecular level, where sensing phenomena occur.
"Alan brings over 25 years of experience growing markets rapidly from scratch through successful product development and commercialization," said Doug Baker, CEO of Applied Nanotech Holdings, Inc. "Hiring someone with Alan's talents is reflective of the bright future of Applied Nanotech. He has earned a reputation as a trusted and respected leader in the diagnostic industry. Equally important, he shares our energy and passion for bringing game-changing solutions to market. We are confident that Alan is the right CEO to lead and help grow this company to become a success."
Mr. Jernigan comes to Applied Nanotech Holdings Inc. from One Lambda Inc., a transplant diagnostic company where, since 2010, he served as Chief Commercial Officer. Prior to One Lambda Inc., Jernigan served in a number of leadership positions with early stage companies helping them develop and commercialize novel point of care technologies. Among his accomplishments at Abbott, Idexx, IGEN, and ThromboVision Inc., were the development and launch of over 35 diagnostic solutions, domestically and internationally, for both the human and non-human markets.
"Joining Applied Nanotech Holdings Inc. is an honor and a once-in-a-lifetime opportunity to help improve the lives of others," said Jernigan. "This is a great company steeped with accomplishment, history, highly innovative products, and highly skilled and dedicated employees. The passion and vision I have for the medical diagnostics industry is just the jumping off point as this new company focuses on commercializing market-disrupting nano sensors for a multitude of applications and industries."
"Our nanosensor technologies have the potential to fundamentally improve detection, diagnostics and prevention capabilities in sectors as large in breadth and scope as healthcare and defense, just to name a couple," commented Zvi Yaniv, PhD and President of Applied Nanotech, Inc. "Now we have someone with the industry knowledge, experience and track record in commercializing revolutionary technologies like ours in Alan."
Dr. Robert Ronstadt, Chairman of the Board of Directors of Applied Nanotech Holdings, Inc., added: "With Alan and our emerging technology in human breath analysis, Applied Nanotech is poised to help transform the cost and delivery of medical treatment in the years ahead."
Mr. Jernigan's career experience has included sales, marketing, manufacturing operations, international experience, research and development and senior management. Jernigan holds an MBA from Oklahoma City University, and a B.S. in Business Administration from Oklahoma State University.
ABOUT APPLIED NANOTECH HOLDINGS, INC.
Applied Nanotech Holdings, Inc. is a global nanotechnology leader, focused on solving problems at the molecular level, and commercializing the results of its research. Its team of PhD-level scientists and engineers work with companies and other organizations to solve technical impasses and create innovations that will create a competitive advantage. The business model is to sell products and license patents and technology to partners that will manufacture and distribute products using the technology. Applied Nanotech has over 300 patents or patents pending. Applied Nanotech's website is http://www.appliednanotech.net.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that involve risks and uncertainties concerning our 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 our annual report on Form 10-K for the fiscal year ended December 31, 2011, and in reports subsequently filed by us 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 our website listed above. We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.