AMR Technologies have developed a novel form of nanosized cerium oxide material. They believe that it has significant implications for uses in major global consumer products and estimate that they can earn US$25 million per year for every 1% of market share they gain.
The nanoparticluate cerium oxide is the culmination of 5 years of development work. The developmental project has been carried out on behalf of an unnamed party who currently holds a major market share as well as an extensive portfolio of patents and patent applications for the above-mentioned consumer product.
Subsequently AMR Technologies have entered into a 10 year exclusive agreement with the other party, to supply the nanosized cerium oxide and related products for the production of the consumer product.