EL PASO, Texas, July 17, 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, completes agreement with Hionis Farms LLC, a subsidiary of Hionis Greenhouses Inc.
Under the agreement Hionis Farms will provide Nanoforce with greenhouse space, equipment, and commercial expertise in the development of agricultural production systems for microalgae over a one year term.
"The growing conditions and existing equipment within the Hionis Farm greenhouse will provide the perfect environment for producing and rapidly commercializing biodiesel from our proprietary microalgae," says Dr. Carolina Kretschmer, Nanoforce technical advisor.
Hionis Farms includes a 110 acre property located in central New Jersey. The Nanoforce microalgae production facility will be housed in their 6 acre greenhouse, a state of the art facility with capabilities of demonstrating commercial scale microalgae production.
Spiros Hionis, President Hionis Farms LLC says, "We're delighted to be working with Nanoforce to expand our proficiency in aquaculture production and management systems. Hionis Farms is committed to staying on top of industry changes and creating opportunities for advancement into new, leading edge cultivation and harvesting technologies. Our extensive knowledge and expertise along with our indoor and outdoor cultivation areas should prove to be a dynamic contribution to this agreement."
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
Safe Harbor Act Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties.
Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.
The Pink Sheets does not require companies whose securities are quoted upon its systems to meet any listing requirements. With the exception of a few foreign issuers, the companies quoted in the Pink Sheets tend to be closely held, extremely small and/or thinly traded. Most do not meet the minimum listing requirements for trading on a national securities exchange, such as the New York Stock Exchange or the Nasdaq Stock Market. Many of these companies do not file periodic reports or audited financial statements with the SEC, making it very difficult for investors to find reliable, unbiased information about those companies. For all of these reasons, companies quoted in the Pink Sheets can be among the most risky investments. That's why you should take extra care to thoroughly research any company quoted exclusively in the Pink Sheets. Be aware that some broker-dealers are required by SEC Rule 15c2-11 to have some information about the issuer. Ask your broker-dealer whether it has any Rule 15c2-11 information before you invest.