Nano-Proprietary, Inc. Grant Application Selected For Award by the Department of Energy
Austin, TX – May 12, 2008 – Austin, Texas-based Nano-Proprietary, Inc. (OTC BB: NNPP) announced that its subsidiary Applied Nanotech, Inc. ("ANI") has been selected to be awarded a new phase I Small Business Innovation Research Program grant by the U.S. Department of Energy in the approximate amount of $100,000.
The purpose of the grant is to develop nanoparticle inks and processes for printing photovoltaic cells for use in solar cell applications. The goal is to lower the cost of fabrication, while maintaining or improving cell performance over conventional technologies.
"We are pleased to be selected for this award," said Dr. Zvi Yaniv, President and Chief Executive Officer of ANI. "This grant allows us to expand our field of application to green energy, while capitalizing on our achievements in the development work related to metallic nanoparticles ink."
More information is available at the Department of Energy Website at http://www.science.doe.gov/sbir/awards_abstracts/sbirsttr/cycle26/phase1/p1_award.htm.
About Nano-Proprietary, Inc.
Nano-Proprietary, Inc. is a holding company consisting of two wholly owned operating subsidiaries. Applied Nanotech, Inc. is a premier research and commercialization organization dedicated to developing applications for nanotechnology with an extremely strong position in the fields of electron emission applications from carbon film/nanotubes, sensors, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) possesses technology related to electronic digitized sign technology. The Companies have over 250 patents or patents pending. Nano-Proprietary's business model is to license its technology to partners that will manufacture and distribute products using the technology. Nano-Proprietary's website is http://www.appliednanotech.net.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning Nano-Proprietary's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in Nano-Proprietary's annual report on Form 10-K for the fiscal year ended December 31, 2007, and in reports subsequently filed by Nano- Proprietary with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from Nano-Proprietary's website listed below. Nano-Proprietary hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
Applied Nanotech Holdings, Inc.