20, 2006 – Austin, Texas-based Nano-Proprietary,
Inc. (OTC BB: NNPP), today announced that its subsidiary,
Applied Nanotech, Inc. has signed a letter of intent
with Da Ling Co., Ltd, a corporation based in Taiwan,
to enter negotiations to form a joint venture dedicated
to constructing and operating a pilot line for
Carbon Nanotube Televisions (CNT TV). The joint
venture will be owned 50% by Da Ling and 50% by
TVs are next generation displays that are ideal
for large (60 inch to 100 inch diagonal) flat screen
TVs and compare favorably, both visually and technically,
with existing large flat screen technologies. According
to the 2003 Fuji Chimera Research Institute report,
the market for large flat screen TVs is expected
to be $100 billion annually by 2010 and CNT TVs
have the potential to capture a significant portion
of this market.
“We expect CNT TVs to become the standard
in large size flat panel displays,” said Dr.
Zvi Yaniv, Chief Executive Officer of Applied Nanotech,
Inc. “CNT TVs are expected to retail for as
low as $1,300 once they are in full scale production.”
Ling is a large diversified company based in Taichung
in the Situn District of Taiwan with operations
in several industries, including electronics. Da
Ling previously organized a consortium of companies
that invested $100 million in a pilot line for a
large flat screen display using polymer light emitting
are excited about this new technology and the business
potential for the large area TV market,” said
Mr. Sunny Tsai, President of Da Ling Co., Ltd. “Taiwan
is one of the world’s leading manufacturing
centers for LCD Monitors and TVs and we are determined,
that with the help of our strategic partner, Nano Proprietary
Inc subsidiary ANI, that Taiwan hold that position
in the coming transition to the next generation of
large flat panel displays. The project team that we
previously organized will be to our advantage in the
coming endeavor with ANI.”
Ling will be responsible for managing and funding
the joint venture, which will include securing the
equipment and location, staffing the facility, and
paying all operating costs. Da Ling expects to invest
approximately $10 million for equipment alone into
the joint venture. Applied Nanotech will provide
its expertise related to the application and implementation
of the CNT technology.
the terms of the letter of intent, Da Ling and
Applied Nanotech have until June 30, 2006 to negotiate
and finalize a joint venture agreement. Once the
joint venture agreement is signed, Da Ling will
pay Applied Nanotech $1 million for delivering
its knowledge and know-how.
The joint venture agreement will not include a license
to any of the technology used in the pilot line;
however it will include pre-negotiated terms for
a license agreement to be consummated if the pilot
line is successful and the parties decide to move
to manufacturing and commercialization. These terms
are yet to be determined, but will include an upfront
payment and an ongoing royalty at parity with standards
in the flat panel TV industry.
“We are extremely pleased to be working with
Da Ling on this project,” said Dr. Yaniv. “This
being the second pilot line established using carbon
nanotubes and our processes since November 2005 (see
press release of November 28, 2005) is testimony
to both the quality of our intellectual property
and that the use of carbon nanotubes in displays
is continuing to gain momentum.
ABOUT DA LING, CO LTD.
Da Ling, Co., Ltd. is a diversified company based
in Taiwan involved in the electronics, construction,
housing, and construction materials industries.
Da Ling has manufacturing operations established
in China, Vietnam and Indonesia. Da Ling maintains
strong relationships with commercial and investment
groups in Taiwan.
ABOUT NANO-PROPRIETARY, INC.
Nano-Proprietary, Inc. is a holding company consisting
of two wholly-owned operating subsidiaries. Applied
Nanotech Inc. is a premier research and commercialization
organization dedicated to developing applications
for nanotechnology with an extremely strong position
in the field of electron emission applications
from carbon film/nanotubes, sensors, functionalized
nanomaterials, and nanoelectronics. Electronic
Billboard Technology, Inc. (EBT) possesses technology
related to electronic digitized sign technology.
The Companies have over 200 patents or patent
Nano-Proprietary’s business model is to license
its technology to partners that will manufacture
and distribute products using the technology.
website is www.nano-proprietary.com.
COMPANY CONTACT -NNPP
Chief Financial Officer
CONTACT – DA LING Co Ltd
Ms. Patty Chen
886 2 2686 3094
MEDIA CONTACT - NNPP
William J. Spina