SOURCE: Nano-Proprietary, Inc.

August 16, 2007 09:10 ET

Nano-Proprietary, Inc. Awarded Homeland Security Contract for Cargo Shipping Container Sensor

AUSTIN, TX--(Marketwire - August 16, 2007) - Nano-Proprietary, Inc. (OTCBB: NNPP) announced that its subsidiary, Applied Nanotech, Inc. (ANI), has been awarded an SBIR Phase II contract for the continued development of a "Dual Sensor Module for Human Detection" from the Homeland Security Advanced Research Project Agency (HSARPA). This two-year contract is for approximately $750,000 and results from the successful completion of the Phase I contract for the same project (see press release of September 12, 2006). Applied Nanotech will design, develop and demonstrate a high reliability, low cost, low power chemical sensor with the ability to operate in the harsh shipping environment that is able to detect humans hiding in cargo shipping containers.

Humans hiding in shipping containers can be a serious threat to homeland security. A reliable detection system to identify the presence of individuals in cargo shipping containers will reduce this threat. Under this contract, ANI will continue development of a sensor system that will monitor and detect human presence in a shipping container in real time. The sensor detection system will continually monitor for the presence of individuals from the moment that the container is sealed until it is released at its final destination. It is estimated that 9 to 11 million shipping containers enter the U.S. each year, and that in excess of 40 million cargo shipping containers are in use worldwide. Additionally, the ANI developed sensor technology will be adaptable to multiple modes of transportation such as trucking, air cargo and rail shipping.

"We are extremely pleased with this additional contract which validates our sensor technology platforms and our expanding sensor line of business," said Tom Bijou, Chief Executive Officer of Nano-Proprietary. "This contract also adds to our ever increasing revenue backlog, which stood at $2.1 million as of June 30, 2007, prior to the receipt of this contract."

ACKNOWLEDGEMENT OF SPONSORSHIP

Applied Nanotech, Inc. acknowledges that the project for "Cargo Shipping Container Human Detector" is sponsored by Homeland Security Advanced Research Project Agency as set forth in the schedule of contract. The content of the information does not necessarily reflect the position or policy of the government and no official endorsement should be implied.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties concerning Nano-Proprietary's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in Nano-Proprietary's annual report on Form 10-K/A for the fiscal year ended December 31, 2006, and in reports subsequently filed by Nano-Proprietary with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from Nano-Proprietary's website listed below. Nano-Proprietary hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.

ABOUT NANO-PROPRIETARY, INC.

Nano-Proprietary, Inc. is a holding company consisting of two wholly owned operating subsidiaries. Applied Nanotech, Inc. is a premier research and commercialization organization dedicated to developing applications for nanotechnology with extremely strong positions in the fields of electron emission applications from carbon film/nanotubes, sensors, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) has investments related to electronic digitized sign technology. The Companies have over 200 patents or patents pending. Nano-Proprietary's website is www.nano-proprietary.com.

Contact Information

  • COMPANY CONTACT:
    Doug Baker
    Chief Financial Officer
    Nano-Proprietary, Inc.
    248.391.0612
    Email Contact

    MEDIA CONTACT:
    William J. Spina
    781.378.2000
    Email Contact