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Luna Innovations announces the formation of its sixth company, Luna nanoWorks

Luna Spins Out Nano Company

Luna nanoWorks takes flight in Danville

Danville, VA – November 03, 2004

Today Luna Innovations announces the formation of its sixth company, Luna nanoWorks — an independent business focused on manufacturing revolutionary products based on recently discovered carbonaceous nanomaterials.

Dr. Stephen Wilson, a world-renowned fullerene scientist, will lead the company as President. Wilson was founder and Chief Scientific Officer of C Sixty, Inc, a Houston biopharmaceutical company based on fullerene technology. He is a recognized expert and innovator with over 250 patents and publications in organic chemistry, biochemistry, biotechnology, and nanotechnology. He is currently setting the vision for Luna nanoWorks and assembling the technical and management team to lead the new enterprise.

Charles Gause, who previously directed Luna’s nanomaterial research and development group, will be Vice President. Gause has been leading the development of Luna’s unique nanomaterial production process. He has extensive manufacturing and operations background and has been instrumental, along with Luna Vice President Ben Plowman, in raising significant funds to support this project. At the Danville facility, Gause will continue leading the operations and business development efforts.

The Danville site was selected over other competing locations due to the City’s pro-business, flexible and responsive government, manufacturing heritage, quality workforce, and diverse building inventory. Danville's technology initiative, excellent educational programs, quality of life, and overall vision integrated easily into Luna’s current and future direction.

The initial investment has been allocated for the renovation of an 18th century tobacco warehouse. From this historic location, material manufacturing and product development with carbon nanotubes and Trimetspheres™, a discovery made at Virginia Tech, is expected by first quarter FY05.

“This ground-breaking project was made possible by the vision and commitment of Senator John Warner, Congressman Virgil Goode, Governor Mark Warner, Secretary of Commerce Michael Schewel, Secretary of Technology Eugene Huang, CIT President Pete Jobse, Senator Charles Hawkins and the Virginia Tobacco Indemnification and Revitalization Commission, and Virginia Research and Technology Advisory Commission Co-chair Dr. John Noftsinger,” said Dr. Kent Murphy, Chairman of Luna nanoWorks.

Luna Innovations is a leader in nanotechnology commercialization resulting in state-of-the-art nanomaterials manufacturing and product development. Currently, there are limited carbonaceous nanomaterial quantities to supply the ever-increasing demand by end-users. Luna nanoWorks will utilize nanotechnology to provide products for cancer therapy, faster electronics, better lubricants, stronger textiles, and chemical and biological warfare testing and disposal for homeland security.

ABOUT LUNA INNOVATIONS:

Luna Innovations is inventing, building and commercializing innovative ideas that are improving life through practical applications of technologies. Luna identifies market opportunities, develops unique technologies and provides the creative environment to fully develop their potential.

Luna Innovations has created six new companies since 2000 while opening additional branches in Charlottesville, Danville, Baltimore, and Hampton Roads. The company focuses areas include manufacturing process control, next-generation cancer drug development, analytical instrumentation, novel nanomaterials, advanced petroleum monitoring systems and wireless remote asset management. For more information see www.lunainnovations.com or email solutions@lunainnovations.com.

Contact:

Karin Clark
1.540.552.5128
Luna Innovations Incorporated
2851 Commerce St.
Blacksburg, VA 24060
www.lunainnovations.com
540.552.5128 / mobile 540.230.5812
ideas taking flight

Copyright © Luna Innovations

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