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Nalco Company (NYSE:NLC), the leading global provider of integrated water treatment and process improvement services, chemicals and equipment programs for industrial and institutional applications, and Keystone Nano, a nanotechnology development company in State College, Pennsylvania, announced the formation of a joint venture company, NanoSpecialties, LLC. The new company will create new products with nano-features for industrial markets.
The venture will conduct research and development of nanotechnology that allows for more precise application of various Nalco water and process treatments.
Keystone Nano has licensed two Penn State University patent applications that protect the creation of NanoJackets(tm), particles with a diameter of about 40 nanometers. The technology was developed through collaborative efforts between Professor James Adair's research group in Penn State's Materials Research Institute and Passanati Distinguished Professor Mark Kester's research group at the Hershey Medical Center. The NanoJackets can be customized to contain specialty chemicals within an exceptionally small, effective, and safe delivery system.
These customized NanoJackets will allow:
* Improved time-release of the treatment agents
* Precise targeting of the treatments at the molecular level to focus
the effects, and
* More stable treatment agents within an engineered nanoscale package
"This effort with Keystone Nano will develop cutting-edge means to better deliver Nalco's world-class chemistries in a variety of applications. Using nanotechnology will further improve the effectiveness of our treatment programs while reducing the amount of chemical used to achieve those results," said Nalco Chairman and Chief Executive Officer Dr. William H. Joyce.
Jeff Davidson, Keystone Nano's CEO notes that, "Combining the development and marketing strengths of Nalco with Keystone's nanotechnology capabilities allows us to create some very exciting new products for industrial customers. We are looking forward to commercializing a range of NanoJacket applications with Nalco."
Nalco has a long history of work in nanotechnology dating to the 1950s and the development of colloidal silicas. Recent innovations such as Core Shell(r) polymers, modified at the molecular level for use in wastewater treatment and as process aids in papermaking, petroleum refining, mining and food and beverage processing, continue this commitment to innovation.
Keystone Nano is currently using NanoJackets to create new medical therapeutics with decreased toxicity and dosage levels. The company is also creating new research and diagnostic imaging applications featuring stable, versatile nano-imaging products.
Nanotechnology is the manipulation of materials at the molecular level to achieve specific results. The term derives from nanometer, a metric unit of measure equal to one billionth of a meter.
About Nalco Company
Nalco serves more than 70,000 customer locations representing a broad range of end markets. It has established a global presence with more than 11,000 employees operating in 130 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers. In 2006, Nalco achieved sales of more than $3.6 billion. For more information visit http://www.nalco.com .
About Keystone Nano
Keystone Nano is a development stage company based in State College, Pennsylvania working at the interface between nanotechnology and the life sciences. More information is available on the company at www.keystonenano.com or by calling 814-466-5080.
This news release includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied, depending on many factors, including, without limitation: ability to generate cash, ability to raise capital, ability to refinance, the result of the pursuit of strategic alternatives, ability to execute work process redesign and reduce costs, ability to execute price increases, business climate, business performance, economic and competitive uncertainties, higher manufacturing costs, reduced level of customer orders, changes in strategies, risks in developing new products and technologies, environmental and safety regulations and clean-up costs, foreign exchange rates, the impact of changes in the regulation or value of pension fund assets and liabilities, changes in generally accepted accounting principles, adverse legal and regulatory developments, including increases in the number or financial exposures of claims, lawsuits, settlements or judgments, or the inability to eliminate or reduce such financial exposures by collecting indemnity payments from insurers, the impact of increased accruals and reserves for such exposures, weather-related factors, and adverse changes in economic and political climates around the world, including terrorism and international hostilities, and other risk factors identified by the Company. Accordingly, there can be no assurance that the Company will meet future results, performance or achievements expressed or implied by such forward-looking statements. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which the Company does not intend to update.
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