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Applied NanoMaterials to Produce Revolutionary Inorganic Nanotubes for New Generation of Flat Panel Displays and Atomic Force Microscopes

New York, NY ­ August 26, 2003 - Applied NanoMaterials, Inc. (www.apnano.com), a provider of nanotechnology-based products, today announced that it will manufacture and sell a new and superior kind of inorganic nanotubes 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. “The unique properties of inorganic nanotubes open new horizons for applications in many areas, which cannot be realized by common carbon nanotubes,” said Dr. Menachem Genut, President and CEO of Applied NanoMaterials. “We have proprietary means for modifying their electrical parameters from conductor to semiconductor and isolator states, which is ideal for numerous advanced electronic applications.”

The inorganic nanotubes can be used as components in the huge developing market of flat panel displays. Current technologies have significant limitations in picture quality and cost. Applied NanoMaterials has developed a simple and inexpensive method to produce inorganic nanotubes that have better electrical properties than other new materials like carbon nanotubes.

Applied Nanomaterials’ nanotubes can also serve as tips for atomic force microscopes (AFMs). AFM instruments are used for studying materials at the atomic level. “The advantageously high aspect ratio, chemical inertness and high strength of our inorganic nanotubes enable them to accurately probe nano-scale structures such as high-density silicon chips,” said Dr. Niles Fleischer, Applied NanoMaterials’ VP of Business Development.

“Our inorganic nanotubes address very fast growing markets that may reach several billion dollars by the end of this decade. It will open new opportunities for Applied Nanomaterials, with the potential for generating considerable revenues,” said Aharon Feuerstein, Applied NanoMaterials’ Chairman and CFO.

Applied NanoMaterials commercializes a revolutionary scientific discovery: nanospheres and nanotubes of inorganic compounds that were discovered at the Weizmann Institute of Science, Israel. Dr. Menachem Genut, President and CEO of Applied NanoMaterials, was a co-discoverer of these novel inorganic nanostructures as a member of the Weizmann Institute’s Nanomaterials Synthesis Group headed by Professor Reshef Tenne.

Applied NanoMaterials developed an innovative chemical reaction method that will allow a cost effective production of the inorganic nanotubes, at a lower cost than today’s production of carbon nanotubes.

Applied NanoMaterials has recently launched its first product, NanoLub ­ the world's first nanotechnology-based solid lubricant. The company has started several Beta-site tests of NanoLub and has established a primary production facility. Within two years the company intends to operate a semi-commercial reactor, producing about 100 kg a day of NanoLub. A commercial one-ton per day reactor will be operational in 2006.

About Applied NanoMaterials
Applied NanoMaterials, a private company, was incorporated in the US 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 Applied NanoMaterials are Newton Technology VC Fund, Yeda Research and Development Co. LTD. (the commercial arm of the Weizmann Institute of Science), AYYT Ltd. (the commercial arm of Holon Academic Institute of Technology, Israel) and private investors. The company is headquartered in New York, USA, with an Israeli subsidiary - Nanomaterials Ltd. - located in the high tech science park adjacent to the Weizmann Institute campus in Rehovot, Israel.

For more information, please visit the Company's website at www.apnano.com

NanoLub is a trademark of Applied NanoMaterials.

Contact:

David Kanaan
Kanaan Public Relations
Phone: +972-3-6120606
e-mail: david @ kanaan.co.il



Reprinted with premission.
Copyright Applied NanoMaterials.