July 10, 2009: Applied Nanotech said it is licensing an unidentified “leading industrial chemical products company in Japan” to manufacture and commercialize its technology for copper-based nanoparticle inks and pastes.
Under terms of the deal, the firm will get $1.5M up-front ($500K paid immediately, the rest in June 2010) plus 4% royalties on sales by the partner. Also, they are in talks about a new R&D project beginning in October to transition to the fourth phase of the project that began in 2006.
“This is a giant step toward implementing our Technical Inks Printing Solution (‘TIPS’) strategy based on five important modules: nanoparticles manufacturing, inks development and manufacturing, technical printing applications development, processing development, and adequate hardware,” noted Applied Nanotech CEO Zvi Yaniv, in a statement. “Securing a trusted, high quality technology partner with a broad base of products used in electronic applications plays a vital role in our approach.”
The company’s chairman added that the license “provides strong support for the viability of our business model,” and went further to characterize this deal possibly “as a seminal event in our company’s history.”