Nano-Proprietary Announces Extension Of Mitsui & Co Relationship For Carbon Nanotube Lighting

Published on July 30, 2007 at 10:20 AM

Nano-Proprietary, Inc., through its subsidiary, Applied Nanotech, Inc. (“ANI”), today announced that Japan based Mitsui & Co., Ltd. has extended its exclusive option to extend royalty bearing licenses on behalf of Nano-Proprietary to companies headquartered in Japan which will allow the use of NPI's carbon cold cathode intellectual property for the manufacture of lighting devices.

To date, Mitsui has reported remarkable progress in their discussions with at least five leading companies and reported that they expect one or more of these companies to be interested in a license. The purpose of the extension is to continue the prospecting process and try to finalize license agreement under the exclusive option agreement. In addition, as a result of the successful collaboration in Japan , the companies also agreed to explore extending the exclusive relationship to other Asian countries such as Taiwan.

“We couldn't be more pleased with the effort and attention that Mitsui has given us in this relationship,” said Tom Bijou, CEO of Nano-Proprietary. “They have a well thought out business plan and they are familiar with, and well known to, the companies that they are working with. Of course, results are never a sure thing, but I think their payment reflects the confidence that they have in being able to meet their goals.”

“Developing these strong relations with Mitsui and the quality of the companies they bring to us for technical evaluation has already resulted in improved CNT composites for field emission applications relating to lighting and backlit devices,” added Dr. Zvi Yaniv, CEO of Applied Nanotech.

Mitsui has various future extension rights, at escalating fee levels, to maintain the right to grant licenses.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit