Nanophase Receives Order for New Market Application Nanophase to Present
At Robinson-Humphrey Institutional Conference
ROMEOVILLE, Ill., Mar 28, 2001 /PRNewswire via COMTEX/ -- Nanophase
Technologies Corporation (Nasdaq: NANX), a leader in nanomaterials and
nanoengineered products, received an order for approximately $400,000 for a new
environmental catalyst application to be filled in the first quarter of 2001.
While Nanophase expects this opportunity to generate significant revenue during
2001, exact quantities and timing are still being developed and will not be
known for a few months. For competitive reasons, the customer has required that
additional information about the application be restricted at this time.
Dr. Don Freed, Nanophase's vice president of Business Development stated, "This
may prove to be a very exciting application for nanocrystalline technology over
the next 3-5 years based on the initial results, early market indications, and
total market potential. While the effort is still in early stages, we now expect
this development to continue to evolve and grow over time. We may be able to
provide additional information on this application later in this year."
"The catalyst market, and in particular environmental catalysts, is of
significant interest to Nanophase and has been an area of intense research and
development over the last six months," stated Joseph Cross, President and CEO.
"We believe that we have made great strides in several applications and creating
new technology that should result in future revenue opportunities for the
company.
"This new development also represents the second new customer and market the
company has added so far this year, which, I believe, indicates the strength of
the technology, the expertise of our R&D team, and the intensity of our business
development activities. We continue to remain comfortable with our 2001 forecast
as stated in February, anticipating annual revenue of approximately $10 million.
We currently expect revenue to be split between the healthcare market for 40-45%
of that number, catalysts 25-30%, transparent coatings 10-15%, ceramics 5-10%,
and others 5-10%. There are still significant business opportunities under
development that could alter this mix in specific markets as the year
progresses."
Nanophase also announced that the company has been invited to present at the
Robinson-Humphrey 30th Annual Institutional Investor Conference April 8-11 in
Atlanta, which is expected to be attended by more than 300 institutional
investors from the US and abroad. Joseph Cross, President & CEO, Dr. Don Freed,
VP Business Development, and Jess Jankowski, Acting CFO and Controller, will be
representing Nanophase at the conference.
Nanophase Technologies Corporation provides engineered solutions utilizing
nanocrystalline materials for a variety of industrial product applications.
Using proprietary technology to produce nanocrystalline materials, the company
creates products with unique performance attributes. The company's global
customer base includes Fortune 500 companies. Nanophase trades on the Nasdaq NMS
under the symbol "NANX." Visit the company's web site at www.nanophase.com .
The words "expect," "anticipates," "plans," "forecasts" and similar expressions
are intended to identify forward looking statements. Statements contained in
this news release that are not historical facts are forward looking statements
that are made pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. These statements reflect the Company's current
beliefs, and a number of important factors could cause actual results for future
periods to differ materially from those expressed in this news release. These
important factors include, without limitation: a decision of the customer to
cancel a purchase order or supply agreement; demand for, and acceptance of, the
Company's nanocrystalline materials; changes in development and distribution
relationships; the impact of competitive products and technologies; and other
risks indicated in the Company's current Annual Report on Form 10-K, as filed
with the Securities and Exchange Commission. Nanophase undertakes no obligation
to update or revise these forward-looking statements to reflect new events or
uncertainties.
For Additional Information on Nanophase Technologies by fax at no cost, Dial
1-800-PRO-INFO, Code NANX
SOURCE Nanophase Technologies Corporation |
