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
Source: Marketwired (January 13, 2014 - 8:45 AM EST)
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