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mPhase Technologies, Inc. [OTCBB:XDSL], today announced a joint exhibition of mPhase and its AlwaysReady Inc. subsidiary, at the MidAtlantic Technology Trends/Innovation Competition & Expo sponsored by the New Jersey Technology Council. The event will be held October 25th at Fairleigh Dickinson University in Madison, NJ.
Additionally, mPhase said that Dr. Fred Allen, President and CEO of its AlwaysReady, Inc. subsidiary, will make a presentation about the company.
According to the event organizers: "Innovation is the hallmark of the world's most successful companies, whether exhibited through unusual products or groundbreaking services. New Jersey Technology Council seeks the most innovative products or solutions from throughout the region including the states of NJ, NY, PA, DE and CT."
AlwaysReady, Inc. is a micro and nanotech development company focused on advanced power and sensing solutions. Its flagship product is the Smart Nanobattery featuring Power On CommandTM capabilities. Developed in conjunction with Alcatel-Lucent/Bell Labs, the Smart Nanobattery offers a revolutionary approach to energy storage and power management in commercial, consumer and military applications. AlwaysReady is seeking collaborations with suppliers and customers to expedite product development and commercialization.
According to Ronald A. Durando, President and Chief Executive Officer of mPhase Technologies: "Events such as this provide key exposure for our collaboration phase to identify funded product development sources, which will then lead us to commercialization/ distribution of our breakthrough technologies."
At an earlier New Jersey Technology Council showcase, AlwaysReady Inc.'s Dr. Allen advised conference attendees that AlwaysReady Inc.'s Smart Nanobattery if properly marketed could expect to capture between 3-5% of reserve and advanced battery markets. The total addressable market for the Smart Nanobattery is currently $1.1 billion and expected to grow to nearly $2 billion by 2016.
AlwaysReady Inc.'s Smart Nanobattery offers many advantages, including its long shelf life and Power-On-Command ™ addressabililty feature and uses in commercial (active RFID tags, healthcare monitoring electronics, smart credit cards) and military applications (small, lightweight systems, alternative power sources, and sensing devices).
mPhase/AlwaysReady Inc. for some time now have had a multi-pronged effort under way with their partners to commercialize a battery that is built on a microscopic nanostructured architecture. mPhase has proven it is possible to fabricate nanotech-based "smart" batteries, which can store reserve power for decades and generate electric current virtually on demand.
The prototype battery was based on a discovery that liquid droplets of electrolyte will stay in a dormant state atop microscopic structures until stimulated to flow, thereby triggering a reaction producing electricity. This super-hydrophobic effect of liquids can permit precise control and activation of the batteries when required.
The mPhase Nanobattery was highlighted in a feature article, "Building a Better Battery," in the November 2006 issue of WIRED magazine. The article said that the project that could potentially increase "battery life storage by an order of magnitude for the first time in 100 years."
Investors interested in more info can call Teresa Peterkin at (203) 854-1345 or visit the web site at http://www.mphasetech.com
About mPhase Technologies, Inc.
mPhase Technologies Inc. (OTC: XDSL) develops and commercializes next-generation media-rich entertainment software and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. The company was awarded the Frost & Sullivan 2006 Energy Storage Award for the Nanobattery, the 2005 Frost & Sullivan Excellence in Technology Award, and the Nano 50 Award from NASA Nanotech Briefs in 2005. The company is bringing nanotechnology out of the laboratory and into the market with a planned innovative long life battery. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise orders of magnitude increases in sensitivity as compared with available un-cooled sensors.
Safe Harbor Statement
This news release contains forward-looking statements related to future growth and earnings opportunities. Such statements are based upon certain assumptions and assessments made by management in light of current conditions, expected future developments and other factors it believes to be appropriate. Actual results may differ as a result of factors over which the companies have no control.
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mPhase Technologies, Inc.
Teresa Peterkin, 203-854-1345
Peter Hamilton, 212-843-8015
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