Nov 20 2007
NaturalNano, Inc., a developer of advanced nanomaterials and additive technologies, today announced it is ramping up current efforts aimed at developing additional domestic and international sources of halloysite nanotubes (HNT), the key component in the Company's newly launched additive for manufacturing stronger, lighter and less expensive materials: Pleximer.
Rochester, NY-based NaturalNano said HNT occurs naturally in certain clay found in the United States, Australia, Europe, South America, and Asia, and has been mined for centuries for use in porcelain and other materials. With NaturalNano's proprietary application of HNT in its Pleximer product, manufacturers gain numerous competitive advantages over traditional additives, including the ability to create extended release applications. While the Company's current sources of HNT are fully sufficient to support current customer demand for Pleximer, NaturalNano said it launched the new exploration project to support anticipated growth and continued testing.
"The true beauty of halloysite nanotubes, beyond the clear advantage of stronger, lighter, and less expensive nanomaterials when produced with HNT , is that it can be sourced from multiple mines around the world, which will allow us to better manage costs and quality," said Cathy Fleischer, President and Chief Technical Officer of NaturalNano. "In addition, HNT's unique qualities give us the chance to fully explore the potential in our extensive IP portfolio, which we have bolstered with our exclusive license agreement with the U.S. Naval Research Laboratory."
NaturalNano said it is currently developing HNT sources and potential partnerships in the western United States as part of the Company's ongoing focus on industry partnerships and joint venture sourcing and technology development. While undergoing the development process, NaturalNano said it continues to have access to reserves of HNT to meet customer demand and to continue laboratory-scale testing of additional Pleximer products. NaturalNano has purchased and is warehousing a six month supply of HNT based on current projections, and will continue to add to the supply throughout 2008. NaturalNano said it expects to introduce several new Pleximer products in the first half of 2008, with extended release applications coming online later next year.
Fleischer concluded: "As the marketplace increasingly looks to utilize the advantages of nanocomposites in various products, our supply chain partnerships - both our joint development agreements and potential partnerships with halloysite-producing mines - place us in the lead to leverage and optimize interest in the space. As we continue to focus on HNT development, these channel partnerships, along with our tremendous technical team and focus on product commercialization, will be strong competitive advantages for us as we bring additional products to market.