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"Lonestar" Will Debut at ISIMS Conference in Finland; Product Offers Advanced Gas Sensing Capabilities for Homeland Security and Industrial Markets
Advance Nanotech, Inc. (OTCBB:AVNA), a leading provider of financing and support services to drive the commercialization of nanotechnology-related products for homeland security and display technologies, today announced the official launch date of Lonestar, the next-generation chemical detection system, and second product line, to be manufactured by Owlstone Nanotech, Inc, a majority owned corporation within Advance Homeland Security, a subsidiary of Advance Nanotech, Inc.
Lonestar will be unveiled at the annual International Society for Ion Mobility Spectrometry (ISIMS) conference, to be held in Mikkeli, Finland on July 21, 2007.
Lonestar is a stand-alone chemical detection system based on the Field Asymmetric Ion Mobility Spectrometer (FAIMS) technology. Building on the Tourist product, which went on the market in 2006, Lonestar combines a MEMS-based FAIMS sensor with greatly improved sampling and electronics to provide superior detection capability. Configured to operate in ambient, or "open air" environments, Lonestar is designed to meet a broad range of customer applications in the multi-billion dollar homeland defense and industrial process control markets.
The Homeland Security market has an urgent operational requirement for a miniaturized, low power, low false positive chemical and explosive detector to be used by military personnel and first responders to detect chemical agents and toxic chemicals. Lonestar offers a significant technological achievement with its proprietary FAIMS technology - it can detect airborne gases down to levels of a few parts per billion - and provides increased selectivity, sensitivity and decreased size that existing Ion Mobility Spectrometers cannot match.
"We are excited to have the opportunity to demonstrate the benefits of our new FAIMS technology at the premier conference for the ion mobility community", said Alastair Taylor, Owlstone's Product Manager. Bret Bader, Owlstone CEO, added, "Building on the success of our first product, Tourist, Lonestar further enables Owlstone to deliver new and improved solutions that better meet the demands of the chemical detection market."
Tony Goncalves, CEO of Advance Nanotech, commented, "Based on the strong, positive response to the Tourist system since its debut in August 2006, we expect Lonestar will rapidly have a major impact on the industrial and homeland security markets. The Tourist introduced our innovative proprietary technology to the market; Lonestar takes that technology to a significantly higher level of performance and marketability."
To be added to Advance Nanotech's investor e-mail lists, please contact Haris Tajyar at .
About Advance Nanotech, Inc.
Advance Nanotech, Inc. identifies patented, patent-pending and proprietary technologies at leading universities and funds the additional development of such technologies in exchange for the exclusive rights to commercialize any resulting products. The company has interests in nanotechnologies that are grouped into two operating subsidiaries: Advance Display Technologies plc, which is listed on the PLUS-Quoted market in London (ADTP) and Advance Homeland Security plc.
By partnering with universities and leveraging the infrastructure and multi-disciplinary human resources of its university partners, Advance Nanotech reduces its cost base and mitigates risk. After prototypes are proven within the lab and the company develops a product roadmap and business plan, it forms majority-owned subsidiaries around the specific technology. It seeks to return value to shareholders through the sale or licensing of the technology, by securing additional financing for the subsidiary from either the venture capital community or the capital markets, or by successfully executing its business plan and consolidating its income as the majority shareholder. For more information on Advance Nanotech, please visit http://www.advancenanotech.com .
About Owlstone Nanotech
Owlstone Nanotech, Inc., is a pioneer in commercializing nanotechnology-based chemical detection products. The Owlstone detector is a revolutionary dime-sized device that can be programmed to sense a wide range of chemical agents in extremely small quantities. Using leading-edge micro- and nano-fabrication techniques, Owlstone has created a complete chemical detection system a hundred times smaller and a thousand times cheaper than existing technology. There are numerous applications -- across industries from security and defense to automotive and healthcare -- that depend on the rapid, accurate detection and measurement of chemical compounds. Owlstone works with market leaders within these applications to integrate the detector into next generation chemical sensing products and solutions. Owlstone's technology offers a unique combination of benefits, including small size, low manufacturing costs, minimal power consumption, reduced false positives, and a customizable platform. For more information on Owlstone Nanotech, please visit www.owlstonenanotech.com or contact Mark Brennan at (201) 880-4400.
Forward-looking statements: This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-KSB, recent and forthcoming Quarterly Reports on Form 10-QSB, recent current reports and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
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Advance Nanotech, Inc.
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