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Hatco Corporation and ApNano Materials, Inc. form technical agreement to develop nanotechnology-based novel lubricants for high performance applications
Fords, New Jersey. March 18th, 2004
Hatco Corporation, a unit of Kaufman Holdings, today announced the formation of a joint Technical Agreement with ApNano Materials, Inc. (formerly Applied NanoMaterials, Inc.). The Agreement provides for Hatco and ApNano Materials to develop novel lubricants for aviation, refrigeration, automotive, industrial, and other applications based on the unique and patented application of ApNano-Materials’ technology, marketed under the brand name NanoLub ™ - the world’s first commercial nanotechnology-based solid lubricant. This Agreement will provide ApNano Materials a practical entrée for its technology into high performance lubricant applications now serviced by units of Kaufman Holdings.
“We are pleased to join with Hatco in announcing this agreement and look forward to the extension of our nanotechnology to Hatco’s market-leading synthetic lubricants. It will enable Hatco and ApNano Materials to develop a wider range of high performance lubricants for applications in aviation, aerospace, and other emerging industries,” said Mr. Aharon Feuerstein, Chairman of the Board of ApNano Materials.
“We are enthusiastic about this opportunity to develop future generation lubricants based on the Nano particle technology invented by the brilliant scientists at the Weizmann Institute in Rehovot, Israel”, said Hatco’s CEO, Alex Kaufman. “This endeavor will position Hatco as the leading company in the high technology sector of the lubricants market, and will bring many new lubricant solutions to our customers.”
ApNano Materials, a provider of advanced nanotechnology products, has developed a proprietary nanotechnology based on unique inorganic nanostructures. These nanoparticles, nested spheres and tubes, can be used in a broad range of commercial and industrial products in the lubricant, microelectronics, semiconductor, aerospace, and metal working markets. Dr. Menachem Genut, President and CEO of ApNano Materials, 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.
Hatco is the world’s leading producer of synthetic lubricants and basestocks for aviation turbine engines and non-ozone depleting refrigeration systems. In aviation, Hatco has a fifty-five year record, with over two hundred billion miles flown on its products, without incident. In refrigeration systems, Hatco’s technology enhances the use of the new HFC refrigerants to replace the chlorinated types that were banned by the Montreal Protocol.
The Agreement is effective immediately. Hatco has assembled a highly talented team in its R&D group to work with its customers to develop novel solutions, using the advanced technology of ApNano Materials, to solve the most challenging lubricant problems.
About Kaufman Holdings
Kaufman Holdings (website) is an independent global producer of various specialty chemicals for use in the industrial lubricants, automotive, aviation, refrigeration, cosmetic and personal care markets. The Corporation consists of a holding company and four independent operating units that supply a diverse range of products and services through a global network of integrated sales, production, research, technical service and distribution facilities.
About ApNano Materials
ApNano Materials (website), 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 ApNano Materials are Newton Technology VC Fund, YEDA Research and Development Co. LTD., AYYT Technological Applications and Date Update LTD. (the commercial arm of Holon Academic Institute of Technology, Israel) and founders. 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.
NanoLub™ is a trademark of ApNano Materials.
Contact for Hatco:
Tel.: (732) 738-3553
Contact for ApNano Materials:
Kanaan Public Relations
Copyright ApNano Materials, Inc.
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