Message #12 From:
Stock News Bot Date: January 4, 2007 05:00:00 AM
AVNA News Advance Nanotech's Display Division Appoints Dr. Gerhard Rebel As CTO and Tom Holzel to the Board
NEW YORK--(BUSINESS WIRE)--Advance Nanotech, Inc., (OTC BB:AVNA.OB), 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 the Company’s
subsidiary, Advance Display Technologies plc (“ADT”),
has appointed Dr. Gerhard Rebel to the position of Chief Technology
Officer and Tom Holzel, a display industry veteran, to its board of
directors. As was announced on December 22, 2006, ADT is in the process
of listing its shares on the PLUS-Quoted (OFEX) market in London and
expects to be listed by mid-January. Dr. Rebel’s
appointment serves to strengthen the management of ADT as it
commercializes its nine-technology rich portfolio.
“We are very pleased to have promoted Gerhard
to this role. During his service as Senior Vice-President, Technology
for Advance Nanotech, Gerhard played a leadership role in building these
promising, young technologies into products with real road-maps to
commercialization,” said Tony Goncalves CEO of
Advance Nanotech. Mr. Goncalves continued, “The
recently announced planned listing of ADT in London will serve to
underline the inherent value and strength of our display technologies.”
Dr. Rebel is a former engineering research fellow and lecturer at the
University of Reading, UK, where he specialized in mechanical
engineering, system modeling, materials science and advance sensor
systems. Dr. Rebel holds a BSc and PhD in Mechanical Engineering from
the University of the Witwatersrand, South Africa and an MSc in
international securities, investment and banking from the ICMA Centre,
University of Reading. Dr. Rebel will be leading the development of a
portfolio of technologies that will aim to serve current unmet
technology needs within the $100 billion display and plastic electronics
industries. Dr. Rebel remains a Senior Vice-President for Technology for
Advance Nanotech, Inc. and will join the board of directors of ADT.
ADT has also appointed Tom Holzel to its board of directors. Mr. Holzel’s
expertise in product assessment and the development of strategic
positioning campaigns has consistently produced results for many
start-ups as well as for companies including Raytheon, Sony, and IBM.
While it was still a prototype, Mr. Holzel sold a medical flat panel
digital display to Zoll Medical for $12 million, so helping to fund the
IPO of display company PixTech. Mr. Holzel sold a high-density
low-voltage power supply to Motorola for $20 million, again while still
a prototype. Mr. Holzel has been a company officer in four start-ups
that led to IPOs and is a recognized expert in flat panel displays. Mr.
Holzel was formerly the VP of Marketing for PixTech, a pioneer in the
manufacture of first-generation field emission displays and ran their
U.S. operations in Silicon Valley. Mr. Holzel has a degree in economics
from Dartmouth College.
ADT was formed in August 2006 as one of two operating divisions and
majority-owned subsidiaries of Advance Nanotech. ADT recently applied
for its shares to be admitted for trading on the PLUS-Quoted (OFEX)
market in London (http://www.plusmarketsgroup.com/cgi-bin/NewApplications.cgi?action=
DispApplication&ISIN=NEWISSUE06).(Due to its length, this URL
may need to be copied/pasted into your Internet browser's address field.
Remove the extra space if one exists.) ADT has published a prospectus
disclosing details of its proposed floatation by way of a placing of 50
million shares at $0.96 (£0.50p) per share.
Following the placing there will be 50 million Ordinary Shares in issue,
valuing the company at approximately $49 million at the placing price.
Advance Nanotech, Inc. will hold 94% of the issued share capital with a
market value of just over $46 million. Trading is expected to commence
in mid January. A presentation articulating the strategy and portfolio
of ADT may be downloaded from: www.adtplc.com.
ADT represents the consolidation of the Company’s
display technology portfolio and includes nine nanotechnologies
providing nano-enabled materials and devices across three display
applications areas: flat panel and projection displays, plastic
electronics and flexible displays. ADT possesses relationships with the
University of Cambridge and the University of Bristol. Of particular
note within the portfolio is the NanoFED technology. NanoFED is seeking
to utilize the unique properties of diamond, nano-sized dust to
significantly increase the performance and lower the price of flat-panel
displays that are so popular with consumers. NanoFED has exceeded
expectations and ADT intends to showcase the technology to potential
licensors within 2007. NanoFED represents the first technology within ADT’s
pipeline for commercialization and will be its first business built from
an academic sourced platform technology.
About Advance Nanotech, Inc.
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. For more information on Advance Nanotech,
please visit www.advancenanotech.com.
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.
