Nano-Proprietary, Mitsui extend relationship for carbon nanotube lighting

July 31, 2007 — Nano-Proprietary Inc., (NPI) through its subsidiary Applied Nanotech Inc., announced that Japan based Mitsui & Co., Ltd. has extended its exclusive option regarding royalty-bearing licenses. On behalf of Nano-Proprietary, then, Mitsui will continue to offer companies headquartered in Japan licenses to use NPI’s carbon cold cathode intellectual property for the manufacture of lighting devices.

Mitsui reports “remarkable progress” in its discussions with at least five leading companies and says it expects one or more of these companies to be interested in a license. The purpose of the extension is to continue the prospecting process and try to finalize license agreement under the exclusive option agreement. In addition, as a result of the successful collaboration in Japan, the companies also agreed to explore extending the exclusive relationship to other Asian countries such as Taiwan.

Mitsui has various future extension rights, at escalating fee levels, to maintain the right to grant licenses.


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