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Advance Nanotech Discusses Vision for Nanotechnology Industry

Company Sees Bright Future for Evolution of Global Nanotechnology
NEW YORK--(BUSINESS WIRE)--May 10, 2005--Advance Nanotech, Inc., (OTC BB:AVNA.OB), the premier provider of services, support andfinancing to drive the commercialization of nanotechnologydiscoveries, used the NSTI Conference as a backdrop for discussing itsview of the near term potential of nanotechnology in the US andabroad. The company sees faster adoption of nanotechnology supportedby business models like its own, which provide mission criticalresources and support services to enable early stage nanotechnologydiscoveries to evolve from the university laboratory to the market.

Advance Nanotech currently has nearly twenty companies comprisingits diversified portfolio, most of which are developing technologieswithin the university setting. The university provides acost-effective environment with access to cutting edge infrastructurein which innovative solutions can be developed for existing problemsand unmet business needs. The Advance Nanotech model, while havingsome similarities to the incubator made popular in the technologycommunity of the late 1990s, is far more advanced and featuresprecisely the kinds of resources nanotechnology companies demand.Specifically, Advance Nanotech provides services ranging from funding, to human capital and research equipment essential to ensuring that themost promising companies can accelerate the path to rapidcommercialization. In this way, investor exposure to any particulartechnology is mitigated with Advance Nanotech retaining the option toincrease investment in those technologies which successfully mature.

This model is much more relevant to nanotechnology companieswhich, unlike technology companies, do not have a strong existinginfrastructure in place and are not widely understood by prospectivecustomers, investors or the public. Nanotechnology companies require agreat deal of nurturing to develop early stage ideas through tocommercial success and often need help educating key audiences abouttheir complex sciences. This is an expensive process, which couldtranslate to higher investor risk and exposure. Investors andprospective customers for these technologies are rightly asking whatdistinguishes one nanotechnology company from another - which one willbe successful? As a result, the Advance Nanotech model is enjoying anunprecedented level of success.

“Our model is extremely well accepted by early stagenanotechnology companies and academic institutions, which need thekind of critical services we provide, ” said Magnus Gittins, CEO ofAdvance Nanotech. “To meet that demand, it is vital that we continueto provide the highest level of human resources for existing projectsand in those portfolio companies proving out their developmentmilestones. This would also apply to any additional portfoliocompanies we consider.”

Reviewing Advance Portfolio and Partners:

Advance Nanotech calculates the impact of nanotechnology in thesectors of materials, electronics, pharmaceuticals, chemicals, aerospace, tools, healthcare, and others to total in excess of $1trillion over the next 15 years. Today, the company is currentlyfunding 18 portfolio companies in the electronics, biopharma, andmaterials industries. Advance Nanotech sees providing the following ascritical to supporting the nanotechnology sector’s evolution:

  • Equipment and Resource Enhancements: Advance Nanotech sees investment in equipment to extend the research and development resources as critical to supporting nanotechnology development in Europe, the US and Asia. For example, earlier this year, Advance Nanotech announced a key strategic investment in an electron beam lithography machine that will benefit the firm’s portfolio companies based out of the University of Cambridge in the United Kingdom. Advance Nanotech supplements equipment at its partnership facilities, enhancing rather than duplicating pre-existing infrastructure.
  • Human Resources: Advance Nanotech will continue to provide support to its portfolio companies as they successfully execute on their development plans. Specifically, Advance Nanotech will be helping the following companies add scientific and administrative resources:
  • Owlstone, developing a button sized chemical sensor, an 'electronic nose' for numerous applications in defense, healthcare, domestic and industry.
  • Bio-Nano Sensium, developing a platform technology for the next generation of medical diagnostic sensors. These may be wearable or implantable and are able to communicate their information wirelessly to a PDA, mobile phone or computer.
  • NanoFED, developing a field emission display which combines the light, thin packaging of LCD displays with the quality of displays based on cathode ray tubes.

Moving forward, Advance Nanotech’s growth strategy includesextending its already broad network of industry and academicpartnerships. In 2005, Advance is continuing to focus on:

  • Academic Partnerships: Advance Nanotech will continue to extend and diversify its academic partnerships. The company already maintains deep alliances with premier universities, including the University of Cambridge and Imperial College, which were independently rated as the number two and number three universities in the UK this year. In the US, Advance Nanotech will seek to build relationships with leading centers of nanotechnology excellence.
  • Industry Partnerships: Advance Nanotech will continue to seek out leading industry partners with a common goal of funding and guiding early-stage nanotechnology companies. In 2005, the company partnered with industry leaders including Alps Electric Company Limited, Marconi plc and the Dow Corning Corporation in the Centre for Advanced Photonics and Electronics at the University of Cambridge, a strategic alliance of government, academia and industry to direct research to practical outcomes.
  • Commercialization Partnerships: Advance Nanotech will seek out potential licensees, purchasers and joint-venture partners for its technologies as they mature within the Advance Nanotech development frame-work. Advance Nanotech will leverage its majority control of its technologies to select the most value-generating route for commercialization appropriate to each technology.

About Advance Nanotech, Inc.

Advance Nanotech Inc. is dedicated to ensuring nanotechnologydiscoveries reach maximum market potential through successfulcommercialization. Advance is the trusted guide to commercial successfor nanotech entrepreneurs spanning the globe, partnering with leadinguniversities to provide scientists and researchers with missioncritical infrastructure support to transform their discoveries tomarketable solutions. The organization provides a range of servicesand support including financing, leadership assets and counsel onintellectual property, licensing and regulatory issues. With aportfolio of nearly 20 companies developing technologies which offerpotentially breakthrough nanotechnology discoveries in theelectronics, biopharma and materials sectors, Advance’s goal is totransform the potential for nanotechnology discoveries into innovativeproducts that further evolve existing industries and enable newmarkets.

This document contains forward-looking statements by AdvanceNanotech regarding its expectations as to its business, and involvesrisks and uncertainties and may constitute forward-looking statementswithin the meaning of the Private Securities Litigation Reform Act of1995.

Such statements are based on management’s current expectations andare subject to a number of risks and uncertainties that could causeactual results to differ materially from those addressed in theforward-looking statements.

Factors that may cause such a difference include, but are notlimited to, problems and risks associated with developments in thenanotechnology industry in general and in Advance Nanotech’s productsunder development in particular; the potential failure of AdvanceNanotech’s products under development to prove safe and effective inapplication; uncertainties inherent in the early stage of AdvanceNanotech’s products under development; failure to successfullyimplement or complete research programmes; failure to receivemarketing clearance from regulatory agencies for our products underdevelopment; acquisitions, divestitures, mergers, licenses orstrategic initiatives that change Advance Nanotech’s business, structure or projections; the development of competing products;uncertainties related to Advance Nanotech’s dependence on thirdparties and partners; and those risks described Advance Nanotech ’sfilings with the SEC. Advance Nanotech disclaims any obligation toupdate these forward-looking statements.

Further information about these and other relevant risks anduncertainties may be found in the Advance Nanotech’s findings with theSecurities and Exchange Commission, all of which are available fromthe Commission as well as other sources.

     Public Relations:     Racepoint Group     RJ Bardsley, 781-487-4616     or     Investor Relations Contact:     CEOCast     Cormac Glynn, 212-732-4300
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