SOURCE: Nano-Proprietary, Inc.

May 14, 2008 08:55 ET

Nano-Proprietary, Inc. Carbon Dioxide Sensor Grant Application Selected for Award

AUSTIN, TX--(Marketwire - May 14, 2008) - Austin, Texas-based Nano-Proprietary, Inc. (OTCBB: NNPP) announced that its subsidiary, Applied Nanotech, Inc. ("ANI"), has been selected to be awarded a new phase I Small Business Technology Transfer Program grant by the U.S. Department of Energy in the amount of approximately $100,000.

The purpose of the grant is to develop and test an improved Carbon Dioxide (CO2) sensor for use in monitoring CO2 in geologic subsurface structures to assure safe retention.

"We are pleased to be selected for this grant in our ever broadening sensor line," said Thomas F. Bijou, Chairman and Chief Executive Officer of Nano-Proprietary, Inc. "The strategy that we have been following, to have a broad base of sensor technologies, is beginning to yield tangible results."

More information is available at the Department of Energy Website at http://www.science.doe.gov/sbir/awards_abstracts/sbirsttr/cycle26/phase1/p1_award.htm.

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 an extremely strong position in the fields of electron emission applications from carbon film/nanotubes, sensors, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) possesses technology related to electronic digitized sign technology. The Companies have over 250 patents or patents pending. Nano-Proprietary's business model is to license its technology to partners that will manufacture and distribute products using the technology. Nano-Proprietary's website is www.nano-proprietary.com.

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 for the fiscal year ended December 31, 2007, 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.

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