NaturalNano Sells Two Non-Strategic Patents to GND Engineering to Enable Commercialization Opportunities
January 13 2014 - 8:45AM
Marketwired
NaturalNano Sells Two Non-Strategic Patents to GND Engineering to
Enable Commercialization Opportunities
ROCHESTER, NY--(Marketwired - Jan 13, 2014) - NaturalNano, Inc.
(OTCQB: NNAN) (www.naturalnano.com) announced today that it had
sold two US Patents to GND Engineering, PLLC ( "GND") of West
Henrietta, NY. The patents relate to the creation and use of
ultracapacitators formed by utilizing mineral Microtubes. NNAN
will receive an upfront payment and a royalty stream for any
commercial applications developed by GND.
NaturalNano's CEO James Wemett commented, "NNAN has and will
continue to expand the applications for its proprietary Halloysite
NanoTubes (HNT). In the course of becoming the world leader in
developing commercial applications for HNT, we have discovered and
identified a range of promising uses on which we are now
focused. The applications for HNT covered by these patents are
not strategic for our current and future business plans. There
may be utilities of the ultracapacitators application covered by
this IP but it is better for this activity to be in the hands of a
partner like GND."
Robert Gunderman, P.E., founder of GND Engineering, PLLC says,
"We are enthusiastic about the opportunities this transaction opens
up for both companies." Gunderman continues, "Halloysite nanotubes
have some fascinating properties, and the ability to advance this
technology and rely on a supply of top quality halloysite nanotubes
from NaturalNano makes this a very worthwhile endeavor."
NaturalNano, Inc. (OTCQB: NNAN) located in Rochester, New York,
is engaged in the development and commercialization of material
additives based on proprietary nanomaterial technology utilizing
Halloysite Nanotubes (HNTs). The company provides industry with
additives designed to improve the processing characteristics and
mechanical properties of engineering thermoplastics, and additives
designed to optimize the release of active agents such as vitamins
and fragrance in cosmetic products. NaturalNano holds patents
relating to the commercial use of HNTs in composite materials as
well as specialized techniques used in the refinement and
processing of HNTs and intermediaries that it ships to customers
worldwide. HNT materials used as a surface treatment have also
shown promise in medical research devoted to stem cell collection
and in trapping circulating cancer cells. The company is also
exploring surface treatments relating to improved adhesion of
protective coatings for polymer components used in numerous
commercial applications.
Cautionary Statement Regarding Forward-Looking Statements:
Contains forward-looking statements regarding future events and
future performance that involve risks and uncertainties that could
materially affect actual results. This information is qualified in
its entirety by cautionary statements and risk factors disclosure
contained in certain of NaturalNano's filings with the Securities
and Exchange Commission. The most recent annual reports on Form
10-K and quarterly reports on Form 10-Q filed by NaturalNano
provide information about these factors, which may be revised or
supplemented in future reports to the SEC on those forms or on Form
8-K. We caution investors not to place undue reliance on
forward-looking statements, and we do not undertake any obligation
to update or otherwise revise any forward-looking statements,
whether as a result of new information, future events, or other
such factors that affect the subject of these statements, except
where expressly required by law.
Contact: Jim Wemett NaturalNano, Inc. 585-267-4848
info@naturalnano.com