NEW YORK, Dec. 13, 2004 (PRIMEZONE) -- Advance Nanotech, Inc. (OTCBB:AVNA) today announces a development collaboration with the University of Bristol which could render expensive, bulky TV screens a thing of the past as a result of a new display technology made from diamond dust.
Advance Nanotech has committed $2 million to a two-year multidisciplinary development program combining the University's nanotechnology expertise in the fields of chemistry and physics. It opens up the possibility of cheaper and more power efficient flat panel displays, for use in wide screen digital TVs and many other applications.
Dr. Neil Fox, lead scientist, at the University of Bristol, explains: "We are thrilled that Advance Nanotech has chosen to enter into partnership with us. Previous government support for our nanodiamond work has allowed us to reach a position where the technology is now ripe for exploitation. Given Bristol's expertise in small scale structures and materials, we are ideally positioned to push forward the barriers of this area of nanotechnology."
This collaboration will also enable scientists to combine diamond nano-particles with other powerful nano-technologies and could lead to the next generation of products in the home and the workplace.
Magnus Gittins, Chief Executive Officer of Advance Nanotech, says: "Today, in collaboration with the University of Bristol, we commence the development of revolutionary new displays for consumer and business markets. The funding we have provided will bridge the gap between this first class innovation and marketable solutions for these high-value markets."
Professor Eric Thomas, Vice-Chancellor of the University of Bristol, adds: "Research at the University of Bristol is of the highest standard. It is very exciting to see this knowledge transferred to the outside world and so bring benefit to us all."
About Advance Nanotech Inc
Advance Nanotech, Inc. (``Advance'') commercializes innovative nanotechnology. 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 Bristol
The University of Bristol team comprises lead scientist Dr. Neil Fox, Professor Mike Ashfold, Head of Physical and Theoretical Chemistry, and Professor David Cherns, Head of the Microstructures group in Physics.
The University of Bristol is a thriving international community dedicated to learning, discovery and enterprise with around 60 departments covering the arts and sciences including medicine, engineering and law. Research is at the heart of the University's mission and accounts for its international reputation. In the latest independent Research Assessment Exercise (2001), 78 per cent of Bristol's departments were judged to be world-class or internationally excellent. Combining our excellence in research and innovation with a vibrant entrepreneurial culture, the University is working with government, industry and other partner organizations and stakeholders to make Bristol a key player in the knowledge-driven economy and produce tangible benefits for the community at large. We encourage a number of activities as a route to commercialization, primarily collaborative projects, licensing technologies or ideas, and the creation of start-up, or 'spin-out', companies.
Contact:
Advance Nanotech, Inc. -- New York Liza Mullins, (646) 723 8962 E-mail: liza.mullins@advancenanotech.com Advance Nanotech, Inc. -- London Charlotte Ramelli, +44 (0) 207 451 2466 E-mail: charlotte.ramelli@advancenanotech.com University of Bristol, School of Chemistry Professor Mike Ashfold, +44 (0)117 928 8312 E-mail: mike.ashfold@bristol.ac.uk