mPhase Technologies, Inc. (OTC BB:XDSL.OB - News) today announced that it will attend the 8th Annual NanoBusiness Alliance Public Policy Tour from March 17-19 in Washington, DC. The Alliance's annual Public Policy Tour is bringing nanotechnology industry executives to the nation's capital for two days of high-level meetings with Members of Congress, Administration officials, and key staff. mPhase will have the opportunity to interact with the decision makers that set policies and regulate the nanotechnology industry and influence access to venture capital.
On Wednesday, February 11, 2009, the U.S. House of Representatives passed H.R. 554, the National Nanotechnology Initiative Amendments Act of 2009. The bill will strengthen and provide transparence in federal research efforts to understand the potential environmental, health, and safety risks of nanotechnology.
``Nanotechnology is already in our cell phones, cosmetics, paints, and refrigerators,'' said House Committee on Science and Technology Chairman Bart Gordon (D-TN). ``It will soon help to protect the lives of our police officers and military servicemen. There is no doubt that the potential of this technology is vast. The bill that passed today fosters commercialization while ensuring public health and safety, and build upon a successful inter-agency effort in nanotechnology.''
H.R. 554 also includes provisions aimed at capturing the economic benefits of nanotechnology. In 2007, $60 billion in nano-enabled products were sold; and it is predicted that the number will rise to $2.6 trillion by 2014. To encourage commercialization in the U.S. the bill strengthens public-private partnerships by transfer and to help guide the National Nanotechnology Initiative (NNI) research agenda. The bill also promotes the use of nanotechnology research facilities to assist companies in the development of prototypes.