Applied Nanotech Announces Continuation of Sensor Research Contract
Austin, Texas – May 10, 2010 – Applied Nanotech Holdings, Inc. (OTC BB: APNT) announced that it has been awarded an extension of its contract to develop a mercaptan sensor by the Northeast Gas Association (NGA). Mercaptans, also known as thiols, are the sulfur containing chemical compounds which are added to natural gas as a safety measure to give the gas its distinctive odor. Currently, the typical method for sensing mercaptan within the natural gas industry relies on personnel to physically sniff for the presence of mercaptan. The development of a mercaptan sensor would eliminate the subjectivity of current testing methods, and provide greater safety, efficiency, and reduced costs.
"We are excited to support the Northeast Gas Association by providing solutions to the technical and safety needs of the natural gas industry and their customers," stated Applied Nanotech, Inc. CEO, Dr. Zvi Yaniv. "The mercaptan sensor will incorporate our non-radioactive ionization source technology, enabling the development of sensing device without the need for radioactive material".
The Northeast Gas Association, through its NYSEARCH sub-organization manages one of the premier natural gas research, development and demonstration (RD & D) programs in the United States. NYSEARCH funds and manages technology development projects from the conception through the commercialization phases for nineteen (19) natural gas distribution companies throughout the US and Canada, including the largest ones. Its RD&D portfolio spans the needs of the industry and has resulted in some of the most transformative new technologies in the industry. The initial phase of funding for the ANI mercaptan development program completed a benchmarking and feasibility study of the ANI sensor approach. The additional funding for this contract extension will result in an engineering prototype for in-line sensing for mercaptans at pipeline test-points.
“I am pleased that that we continue to progress toward commercializing trace chemical sensor solutions with significant market potential,” said Doug Baker, CEO of Applied Nanotech Holdings, Inc. “We also recognize that this technology has many applications beyond this project, including other industrial and health monitoring applications.”
About APPLIED NANOTECH HOLDINGS, INC.
Applied Nanotech Holdings, Inc. is a premier research and commercialization organization focused on solving problems at the molecular level. Its team of PhD level scientists and engineers work with companies and other organizations to solve technical impasses and create innovations that will create a competitive advantage. The business model is to license patents and technology to partners that will manufacture and distribute products using the technology. Applied Nanotech has over 250 patents or patents pending. Applied Nanotech’s website is www.appliednanotech.net.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that involve risks and uncertainties concerning our 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 our annual report on Form 10-K for the fiscal year ended December 31, 2009, and in reports subsequently filed by us 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 our website listed above. We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
Applied Nanotech Holdings, Inc.