Advance Nanotech, Inc. (OTCBB: AVNA) today announced that the Company's majority
owned subsidiary, Owlstone
Nanotech, Inc., has received a follow-on order from SELEX Galileo totaling
$272,000. SELEX Galileo, a Finmeccanica company and one of Europe's foremost
Aerospace and Defense organizations, is a leader in surveillance, protection,
tracking, targeting, navigation + control and imaging systems. This contract
is the third contract from SELEX Galileo and follows the contract announced
in June 2008 that was completed in December. Owlstone is expected to complete
delivery under this new contract by July 2009.
The order from SELEX Galileo contracts Owlstone to continue to build specific
chemical detection end instruments that meet the specifications set forth by
the U.S. Department of Defense. The work involved is primary product development
and engineering work on the surrounding components for a specific application
using the NEXSENSE C platform that was initiated with SELEX Galileo in 2007.
"We are very pleased to further our working relationship with SELEX Galileo
by supporting the continued commercialization efforts of NEXSENSE C," commented
Bret Bader, CEO of Advance Nanotech. "This contract represents an important
milestone in both our ongoing relationship with SELEX Galileo and the overall
commercialization efforts of our technology in Homeland Defense."
Michaela Clarke, Capability Manager Security & Surveillance Systems at
SELEX Galileo, added, "We have been working closely with Owlstone to advance
technological capabilities in the chemical detection arena through the development
of systems utilizing their core sensor technology." Ms. Clarke continued,
"We are thrilled with the progress of the Owlstone technology and system
and believe it can represent a next generation leap in the overall ability to
deliver end instruments that better protect soldiers and military infrastructure."