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Israeli Minister of Science and Technology visits ApNano Materials

Rehovot, Israel. April 1st, 2004 The Israeli Minister of Science and Technology, Mr. Eliezer Zandberg has visited the Weizmann Institute of Science in Rehovot together with the Finance Ministry Director General, Dr. Yossi Bachar, where they were given presentations regarding nanotechnology research projects that were financed by the Ministry of Science and Technology.

Following the visit to the Weizmann Institute, they visited the R&D center of ApNano Materials, a start-up company which is the result of a research in the materials sciences, initiated and financed by the Ministry of Science and Technology, within the first scientific infrastructure program. The research led to a unique international breakthrough.

The Israeli Minister of Science and Technology, Mr. Eliezer Zandberg (left) and ApNano Materials' CEO and Co-Founder, Dr. Menachem Genut Click to enlarge

ApNano Materials commercializes a revolutionary scientific discovery: nano-spheres of inorganic compounds that were discovered at the Weizmann Institute of Science, Israel. Dr. Menachem Genut, CEO and Co-Founder of Applied NanoMaterials, was a co- discoverer of these novel inorganic nanostructures as a member of the Institute’s Nanomaterials Synthesis Group headed by Professor Reshef Tenne. The research was financed by the Ministry of Science and Technology within the first scientific infrastructure program. The Chairman of ApNano is Mr. Aharon Feuerstein.

ApNano Materials’ first product is NanoLubTM - the world's first commercial nanotechnology-based solid lubricant. NanoLubTM particles have a unique structure of nested spheres that lubricate by rolling like miniature ball bearings.

NanoLubTM brings a completely new dimension to the world of solid lubricants, opening new horizons in tribology - the science of friction, wear and lubrication. NanoLubTM dramatically reduces friction between moving parts and minimizes wear for smooth operation, saves maintenance costs and greatly improves overall machine performance. In addition, it reduces energy consumption and decrease air pollution.

Typical applications of NanoLubTM include maintenance free systems, such as aerospace systems and ultra-clean manufacturing environments such as semiconductor fabs. Other applications include power plants, heavy equipment, machinery, and marine applications.

Applied NanoMaterials, in cooperation with the Tribology Laboratory of the Holon Academic Institute of Technology, Israel under the supervision of Professor Lev Rapoport, has developed a special impregnation technique that allows bearing manufacturers to apply the nanoparticles during the manufacturing process to produce self-lubricating components with very low friction coefficients.

ApNano Materials has recently formed a joint Technical Agreement with Hatco Corporation (a unit of Kaufman Holdings), the world’s leading producer of synthetic lubricants and basestocks for aviation turbine engines and non-ozone depleting refrigeration systems. The two companies will develop novel lubricants for aviation, refrigeration, automotive, industrial, and other applications based on NanoLub™. In addition, the Volkswagen Group, one of the world’s leading automobile manufacturers, has recently announced that it has started a joint experiment with ApNano Materials to develop advanced lubricants for use in Volkswagen’s future models.

In addition, ApNano Materials will manufacture and sell a new and superior kind of inorganic nanotube for highly sophisticated products such as advanced generation high resolution flat panel displays and atomic force microscopes (AFMs). Inorganic nanotubes are considered to be the ideal material for tomorrow’s nano electronic devices. In many cases they can be used to replace silicon and so have many additional potential applications including semiconductor devices, sensors, biosensors, and nano-motors.

ApNano Materials has started a new round of raising capital which will enable the company to move from the lab phase to the semi-industrial and industrial production phases.

About ApNano Materials

ApNano Materials (www.apnano.com), a private company, was established in 2002. The company was granted an exclusive license by Yeda Research and Development Co. Ltd, the commercial arm of the Weizmann Institute of Science, Israel, to manufacture, commercialize and sell the new nanomaterials discovered at the Institute. The shareholders of ApNano Materials, besides the founders, are Newton Technology VC Fund, Yeda Research and Development Co. LTD. (the commercial arm of the Weizmann Institute of Science), AYYT Technological Applications and Date Update LTD. (the commercial arm of Holon Academic Institute of Technology, Israel). The company is headquartered in New York, USA, with an Israeli subsidiary- NanoMaterials, Ltd.

Contact for the Ministry of Science and Technology:

Michal Ogolnik
Ministry of Science and Technology
Tel.: +972-56-231234
e-mail: michalo@most.gov.il

Contact for ApNano Materials:

David Kanaan
Kanaan Public Relations
Phone: +972-3-6315166
e-mail: david@kanaan.co.il

Copyright ApNano Materials, Inc.

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