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API Nanotronics Corp. (OTCBB: APIO) ("API") (the "Company"), a leading supplier of electronic components and nanotechnology research and development to the defense and communications sectors, today announced it concluded a development agreement with a leading semiconductor capital equipment company, to develop proprietary high-performance Deep UV polarizers for next generation lithography equipment. API's deep UV polarizers represent an outstanding example of nanotechnology achieving major commercial applicability.
"The future of semiconductor fabrication lies in the deep UV," Dr. Martin Moskovits, API's CTO and nanotechnology expert said. "And we believe that API's nano-grating-based optical technology is the best available technology to manage UV over the large areas required to process large wafers." The proprietary deep-UV optical nano-products are manufactured at API Nanotronics' nanofabrication and MEMS facility, NanoOpto, in Somerset, New Jersey, which includes one of the world's largest multi-wafer atomic layer deposition production capabilities.
This agreement represents the latest of several joint projects API has undertaken with an impressive list of leading technology companies to develop ground breaking products by applying its nanotechnology processes to display, communications, defense, medical and life sciences and alternative energy applications. API is now positioned as a solutions-based optics and MEMS engineering enterprise with an identified addressable market exceeding $7B in defense and consumer products.
Stephen B. Pudles, Chief Executive Officer of API Nanotronics Inc., said, "It is highly gratifying to see that API's nanotechnology and MEMS capabilities are being recognized as cutting edge. We are very excited to work with companies of this size and quality and look forward to evolving into the industry leader for innovative nano optic and electronic components."
About API Nanotronics Corp.
API Nanotronics Corp., through its wholly owned subsidiaries API Electronics Inc., National Hybrid Inc., Filtran Group, TM Systems, Keytronics and API Nanofabrication Corporation, is engaged in the manufacture of electronic components and systems for the defense and communications industries. API is also developing a leadership position in the R&D and manufacture of nanotechnology and MEMS products. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin, and numerous other top technology-based firms around the world, API regularly ships products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York, New Jersey and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. API Nanotronics trades on the OTC Bulletin Board under the symbol APIO.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. All forward-looking statements are subject to certain risks, uncertainties and assumptions which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties, which are more fully described in the Company's Annual and Quarterly Reports filed with the Securities and Exchange Commission, include but are not limited to, general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits, our ability to protect our intellectual property, our ability to integrate and consolidate our operations, our ability to expand our operations in both new and existing markets, the effect of growth on our infrastructure and the effect of competition in the electronic components, nano-optics and nanotechnology industries. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. All information in this release is as of the date hereof. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
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Director of Corporate Communications
API Nanotronics Corp.
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