Nanophase Technologies Qualifies Additional Product to Navy Specification
Announces Follow-on Order for Thermal Spray Products
BURR RIDGE, Ill., Aug. 22 /PRNewswire/ -- Nanophase Technologies Corporation (Nasdaq: NANX), a leader in nanomaterials and nanoengineered products, announced that it had developed and qualified an additional product in the NanoClad(TM) metal oxide family for use in thermal spray coatings for high reliability applications on United States naval vessels. In cooperation with A&A Company, Inc., a certified Navy contractor, Nanophase has developed nanocrystalline metal oxides providing performance advantages that significantly exceed the requirements of MIL-SPEC 1687A, "Thermal Spray Processes for Naval Ship Machinery Applications." The developed technology and materials are also believed to have significant, direct implications for a broad range of commercial applications in automotive, energy and other markets.
Nanophase's thermal spray materials will be used to repair worn or eroded metal parts on naval vessels; as a substitute for conventional ceramic coatings where enhanced properties are needed for longevity; replacement of hard chrome in situations where the use of NanoClad(TM) would reduce galvanic corrosion or buildup of calcareous deposits; and, wear resistant coatings in situations where coatings could not previously be used because of limitations in conventional coating properties. Coated parts have been delivered for both submarine and aircraft carrier applications.
Nanophase announced that it had received an initial order for this new material, Nanoclad(TM) SD-100, a ready-to-spray material that will be incorporated into high-reliability parts to be fabricated by A&A Company, Inc. Based on early preliminary estimates, the annual potential for both government and industrial applications is believed to be in excess of $1.5 million. Dan Bilicki, Nanophase vice president, sales and marketing, noted that "ceramic thermal spray materials are emerging as a growth market for nanostructured materials, and Nanophase is excited about our leading-edge capability in bringing forward a broad range of new materials for this market. We have taken a laboratory concept and successfully engineered it into a product line that creates a material offering substantial technical benefits at affordable economics."
According to Dr. D. J. Freed, Nanophase vice president of business development, "under a program sponsored by the Office of Naval Research, this second material formulation developed by Nanophase and A & A is a cost- effective equivalent to the initial Nanophase material and continues to demonstrate enhanced tensile strength, abrasion resistance and machinability when compared to conventional materials." Dr. Lawrence T. Kabacoff, Office of Naval Research Scientific Officer overseeing the Advanced Coatings Program stated, "The newly developed materials will reduce the total cost of ownership of naval vessels utilizing this technology." The company understands that when fully implemented, savings in the form of reduced maintenance cost are expected to reach $100M dollars annually.
Nanostructured coatings are up to four times more abrasive wear resistant and exhibit more than double the bond strength compared to conventional coatings. They also tolerate a surprising degree of deformation of the substrate without coating failure and are remarkably resistant to impact damage. This combination of properties permits the use of these coatings in situations where the use of ceramic coatings has never been possible. The cost of nanostructured coatings is actually less than that of a similar conventional coating since the deposition rate is higher while the time for grinding and polishing of the coated part is lower than that needed for conventional coatings. Since nanostructed coatings are up to 40% easier to machine and finish than conventional coatings, they reduce the time normally required for these operations which accounts for approximately 90% of current costs. The number of naval parts for nanostructured coatings is literally in the thousands ranging from gears and spindles to electric motor shafts to, potentially, carrier main propulsion shafts and couplings for control of galvanic corrosion in high stress, abrasive environments.
Robert W. Rigney, A&A Company Technical Director added, "The use of nanostructured ceramic materials will provide service life extension for critical components for U.S. Navy ships. Qualification of Alumina-Titania nanoceramic for submarine and aircraft carrier parts has been achieved and the resulting performance improvements will make the thermal spray process a standard for all Navy repair organizations and contractors. These newly developed materials will be specified on prints for new components as well as used as a repair method."
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
CO: Nanophase Technologies Corporation; A&A Company, Inc.
ST: Illinois
IN: CPR
SU: PDT
08/22/2000 16:10 EDT prnewswire.com |
