NEW YORK--(BUSINESS WIRE)--Advance Nanotech, Inc., (OTC BB:AVNA), the premier provider of financing
and support services to drive the commercialization of nanotechnology
related products for homeland security and display technologies, today
announced that Singular ID, a company in which Advance Nanotech holds a
11.45% stake, has won ZDNet Asia’s
Breakthrough Award for “its innovative
technology to solve a real-life business issue: counterfeiting.”
Singular ID provides individually tailored tagging solutions designed to
combat counterfeiting and forgeries. The technology offers unique,
irreproducible tags with nanoscale magnetic domains that act like
fingerprints to identify each tagged item. Unlike radio frequency (RF)
tags, they cannot be detected remotely – this
prevents others from finding Singular ID tags and removing them - an
inherent advantage in the anti-counterfeit market. The Singular ID
investment falls within the Homeland Security division of Advance
Nanotech.
Singular ID is also one of ten winners in the Top Asian
TechnoVisionaries for 2006. Nominees were judged on six criteria:
technology innovation, market potential, business model,
investor/financial record, customer strategy, and creative
branding/marketing.
“We are delighted that Singular ID is earning
such high accolades for its magnetic tagging technology,”
says Tony Goncalves, Advance Nanotech’s CEO. “This
award is a testament to Singular ID significant technical advantage over
competitors. There is an urgent need for a tamperproof authentication
system that is widely applicable across different industries and
Singular ID is well positioned to supply this technology solution.”
Singular ID is part of Advance Nanotech's Homeland Security Division
which includes nanotechnologies providing solutions across two
application areas: CBRNE Detection (Chemical, Biological, Radiation,
Nuclear, and Explosive), and Wireless Monitoring for cognitive
awareness, triage and first response therapy. This division launched its
first product earlier this year, recently reported revenues for the
first time and has a customer base across the defense and industrial
process control industries.
Singular ID platform technology can serve the needs of a wide variety of
industries. The initial focus concerns a few niche areas such as
diamonds / luxury items and the aircraft industry. For certain aircraft
components the tag’s ability to withstand
high temperatures gives an immediate advantage. In the case of diamonds
/ luxury items, a microscopic tag is essential. Since Singular ID
technology is widely portable, devices developed to address one area can
easily be applied to others. The range of markets is substantial,
spanning from personal identification systems to supply chain tracking.
One specific example is computer-readable tags on CDs in order to
prevent software piracy.
ZDNet Asia is a comprehensive guide for enterprise and small-medium
business technology decision-makers provided by CNET Networks Asia
Pacific, a subsidiary of CNET Networks, Inc. (NASDAQ: CNET), a global
interactive content company. The resource regularly features technology
news and insight with regional perspectives, and an Information
Technology library with whitepapers, webcasts and toolkits.
Advance Nanotech identifies patented, patent-pending and proprietary
technologies at leading universities and funds the additional
development of such technologies in exchange for the exclusive rights to
commercialize any resulting products. Advance Nanotech has interests in
over 20 nanotechnologies. In August 2006, the company completed a
strategic realignment of its portfolio to more aptly leverage the
strengths of the portfolio to provide the greatest value to
shareholders. The Company currently possesses a critical mass of
technologies in two core areas of activity; Homeland Security and
Displays.
By partnering with universities and leveraging the infrastructure and
multi-disciplinary human resources of our university partners, we reduce
our cost base and mitigate risk. After prototypes are proven within the
lab and we develop a product roadmap and business plan, we form majority
owned subsidiaries around the specific technology. We seek to return
value to our shareholders through the sale or licensing of the
technology, by securing additional financing for the subsidiary from
either the venture capital community or the capital markets, or by
successfully executing our business plan and consolidating its income as
the majority shareholder.
Singular ID is a nanotechnology spin-off company that was founded to
commercialize magnetic tagging technology. With a mission to safeguard
customers’ interests by providing integrated
tagging solutions that protect people, brands, corporate images and
market share, Singular ID aims to be the leading solution provider for
tracing and authenticating items of value.
This news release contains forward-looking statements within the meaning
of the "safe harbour" provisions of the Private Securities Litigation
Reform Act of 1995. These statements are based upon our current
expectations and speak only as of the date hereof. Our actual results
may differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties, including the recent economic slowdown affecting
technology companies, the future success of our scientific studies, our
ability to successfully develop products, rapid technological change in
our markets, changes in demand for our future products, legislative,
regulatory and competitive developments and general economic conditions.
Our Annual Report on Form 10-K and 10-K/A, recent and forthcoming
Quarterly Reports on Form 10-Q and 10-Q/A, recent Current Reports and
other SEC filings discuss some of the important risk factors that may
affect our business, results of operations and financial condition. We
undertake no obligation to revise or update publicly any forward-looking
statements for any reason.
