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Abstract:
ApNano Materials Inc., a provider of nanotechnology-based products, today announced that Dr. Menachem Genut, the Company’s President and CEO, has been named by TheMarker magazine as one of the most promising entrepreneurs in Israel. TheMarker is Israel’s leading business magazine.

ApNano Materials’ CEO Recognized as One of the Most Promising Entrepreneurs in Israel

Rehovot, Israel, October 4, 2004

ApNano Materials Inc. (www.apnano.com), a provider of nanotechnology-based products, today announced that Dr. Menachem Genut, the Company’s President and CEO, has been named by TheMarker magazine as one of the most promising entrepreneurs in Israel. TheMarker is Israel’s leading business magazine.

TheMarker listed six entrepreneurs as the most promising entrepreneurs in Israel. Besides Dr. Genut, who is the only entrepreneur in the field of nanotechnology, the magazine listed an additional five entrepreneurs in Internet-based advertising, miniature digital cameras, pharmaceuticals, chips for cellular devices and medical devices.

"To be named as one of the most promising entrepreneurs in Israel is a great recognition of the achievements of ApNano Materials, in the hard work and dedication of its talented employees, especially of my partner and co founder- Mr. Aharon Feuerstein-the Chairman and CFO, Dr. Niles Fleischer, VP of Business Development, and Dr. Alla Zak, the Chief Scientist, along with the large scientific contribution of our chief scientific advisor Professor Reshef Tenne,” said Dr. Genut.

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

ApNano Materials’ first product is NanoLub- the world's first commercial nanotechnology-based solid lubricant. NanoLub particles have a unique structure of nested spheres that lubricate by rolling like miniature ball bearings. The Volkswagen Group, one of the world’s leading automobile manufacturers, has announced that it has included ApNano Materials products in its automotive nanotechnology program.

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 announced that it is in an advanced process of raising $4 million investment in the company. The money raised will be used for establishing a semi-commercial production manufacturing facility, sales, business development and R&D.

About ApNano Materials

ApNano Materials (www.apnano.com), a private company incorporated in the US in 2002, is headquartered in New York, USA. Its fully-owned Israeli subsidiary - NanoMaterials, Ltd., is located in the high tech science park adjacent to the Weizmann Institute campus in Rehovot, Israel. 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).

NanoLub is a registered trademark of ApNano Materials.

Contact:

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

Copyright © ApNano Materials Inc.

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