Message #14 From:
NewsBot Date: January 22, 2007 05:55:00 AM
AVNA News Advance Nanotech Portfolio Investment Receives Repeat Order and Scales-up Production
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 announced that Singular ID, a company in which Advance
Nanotech holds a 11.45% stake has received a repeat order from Sanden
International (Singapore) Pte Ltd (SIS).
Singular ID, the provider of enxure, an individually tailored
tagging solution designed to combat counterfeiting and forgeries 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.
The new order is to provide labels for SIS’s
entire compressor production for the next twelve months. In addition to
purchasing the labels, SIS is subscribing to the enxure
data-hosting service and will pay an authentication fee per successful
transaction. Although neither SIS nor Singular ID would disclose the
full value of the contract, as a minimum it is into the six figures in
Singapore dollars. Singular ID is now scaling-up its production to meet
this substantially increased demand. SIS began as a small marketing
office in 1974 and is wholly-owned by Sanden Corporation, Japan
(TSE:6444). SIS has grown into a multi-faceted, manufacturing and
distribution organization with exports to more than 30 countries
generating annual sales of more than S$200 million.
Dr Peter Moran, Singular ID’s Chief Technology
Officer, comments: “We are pleased that SIS
has committed to scaling-up its use of our brand security system. This
is particularly gratifying because of the fact that it is a repeat order
clearly demonstrating confidence in our system. As a growing company, we
are continuing to execute our business model of rolling-out innovative
products, gaining commercial traction, and engaging our manufacturing
partners to scale-up to meet the demands of high volume production.”
Mr Robert Kheng, Managing Director of SIS, added: “We
have been working with Singular ID over the past year to implement their
brand security system on our products. We are very pleased with the
proactive support from Singular ID and are enthusiastic to start
implementing the solution for our entire product range.”
Commenting on the announcement, Tony Goncalves, CEO of Advance Nanotech,
said: “This order will serve to further cement
Singular IDs relationship with this established partner and reaffirms
Singular IDs significant technical advantage over competitors. The
success of Singular ID is a further testament to the value of Advance
Nanotech’s Homeland Security division. We are
confident of a strong 2007 performance for the division which presently
has two products at market. The division is generating revenues and
continues to sign-up new customers."
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 which are grouped into two operating
subsidiaries: Advance Display Technologies plc, which is listed on the
PLUS-Quoted market in London (ADTP) and Advance Homeland Security plc.
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.
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.
