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Advance Nanotech, Inc., (BULLETIN BOARD: AVNA) , today announced that its Owlstone Nanotech subsidiary has received a purchase order for test quantities of its Lonestar product from Kidde IP Holdings Limited, the research subsidiary of UTC Fire & Security Corporation .
"We have been working with Owlstone for over two years to evaluate Owlstone's FAIMS (Field Asymmetric Ion Mobility Spectrometry) technology for use in fire detection systems" said Max Allsworth, senior research physicist, Kidde. "We were pleased with the progress of testing to date".
"We are proud to announce purchase orders for our Lonestar product," said Bret Bader, CEO of Owlstone Nanotech. "Kidde is a world leader in the production of advanced systems for safety detection, prevention and protection; we believe our continuing collaboration with Kidde will lead to a new wave of detection systems incorporating FAIMS technology that alert people to fires, fumes and other dangers at the earliest possible moment, reducing the number of injuries and deaths caused by fires."
The Lonestar product line provides a powerful and adaptable chemical monitor in a self-contained, compact portable unit that can be easily integrated into industrial settings. Incorporating Owlstone's proprietary Field Asymmetric Ion Mobility Spectrometry (FAIMS) technology, the instrument offers the flexibility to provide rapid alerts and detailed sample analysis. Lonestar units can be "trained" by users for different applications by "teaching" the unit normal operating parameters against which Lonestar can detect anomalous events. It can be easily integrated with other sensors and third party systems to provide a complete monitoring solution, and is suitable for a broad variety of applications ranging from online/at line process monitoring to laboratory based research and development.
About Advance Nanotech, Inc.
Advance Nanotech 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. Advance Nanotech has interests in over 20 nanotechnologies, 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 our 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, Inc.
Owlstone Nanotech is a pioneer in the commercialization of nanotechnology- based chemical detection products. Its initial commercial product, The Owlstone Detector, is a revolutionary dime-sized device that can be programmed to detect a wide range of chemical agents that may be present 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 http://www.owlstonenanotech.com/.
Kidde IP Holdings Limited is part of UTC Fire & Security Corporation which is a $4.7 billion dollar business providing fire safety and security solutions to more than one million customers worldwide.
Safe Harbor statement: 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 market acceptance of the Lonestar(TM) product line, 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 and 10-KSB/A, recent and forthcoming Quarterly Reports on Form 10-QSB and 10-QSB/A, 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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