SOURCE: Nano-Tex

May 17, 2005 08:00 ET

Nano-Tex Named a Red Herring 100 Company

Award Recognizes 100 Private Companies in North America That Drive the Technology Industry's Future

EMERYVILLE, CA -- (MARKET WIRE) -- May 17, 2005 -- Nano-Tex, a leading fabric innovation company providing textile enhancements to the apparel and interior furnishings markets, announced today it has been named one of the Red Herring 100 Private Companies of North America.

"Five years after the dot-com bubble burst, innovation and entrepreneurship are thriving. The companies on this list are proof," said Red Herring editor-in-chief Joel Dreyfuss.

Nano-Tex was the first company to bring nanotechnology to the textile industry. Today more than 80 textile mills worldwide use Nano-Tex enhancements in products sold by more than 100 leading apparel and interior furnishings brands. The company's patented technology delivers superior durability and performance without compromising the look, feel or comfort of the fabric, a unique benefit which has driven brand and consumer adoption of Nano-Tex treatments.

Consumer reaction to clothing enhanced with Nano-Tex treatments is driving growth in the sluggish retail apparel industry. While apparel sales are down overall from last year, retail brands are experiencing up to 100 percent growth in year-to-year unit sales after adding Nano-Tex treatments to their product lines.

NPD Fashionworld, a leading apparel industry analyst firm, predicts that the percentage of clothing with performance enhancements on the market will jump from 25% of all apparel to 50% of the $170 billion U.S. apparel industry in the next few years.

"The Red Herring award underscores the value we bring to the textile industry," said Donn Tice, Nano-Tex CEO. "In a stagnant apparel market, Nano-Tex is a proven catalyst for growth by helping retailers bring differentiation to the selling floor, giving consumers new reasons to buy and driving repeat purchases."

Nano-Tex offers a family of nanotechnology-based textile enhancements that become inherent to the fabric to deliver superior performance characteristics without compromising the comfort, look or feel of the fabric. The company's products include:

Resists Spills (liquid-repellency)
Coolest Comfort (moisture wicking for synthetics and wrinkle-free cotton)
Resists Static (first permanent anti-static treatment for synthetics)
Repels and Releases Stains (market's best-performing stain release
capabilities with repellency)
Nano-Tex introduced its first product in 2000 and has continued to lead the industry in textile innovations. Nano-Tex has expanded its market presence into apparel for men, women and children, with products ranging from activewear and uniforms to business attire and casual clothing. The company is beginning to expand into the interior furnishings market, with products used in home and commercial fabric applications, including bedding, drapery and upholstery.

In the past 12 months, the company closed a $35 million round of funding, doubled its roster of textile mills and retail brands, quadrupled the size of its R&D team and introduced three new treatments.

Red Herring's lists of private companies are an important part of the magazine's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work.

Red Herring's editorial staff rigorously evaluated more than 900 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. Red Herring 100 companies will be presenting their business model and strategy at the Red Herring Spring conference. Red Herring Spring will take place May 17-19 at the Monterey Plaza Hotel in Monterey, California.

About Red Herring Spring

Red Herring Spring is an invitation-only event for CEOs, select senior executives, and Venture Capitalists. Themed "The Dynamics of Disruptions," Red Herring Spring 2005 will bring together executives from mostly private companies. These executives will be joined by senior executives from public companies and Venture Capitalists. Please contact Sean Raman at 650.428.2900 or email sraman@redherring.com if you would like to request an invitation to Red Herring Spring.

About Red Herring

Red Herring is the weekly magazine technology entrepreneurs, investors and industry observers read to stay ahead of the curve and to be better informed about the global marketplace. Red Herring covers technology, innovation, financial strategies, important personalities and trends that are transforming the world of business with unique insight, opinion and forward-looking analysis. Readers turn to Red Herring for knowledge to make strategic decisions, build companies and create a competitive advantage for their businesses. Red Herring articles, blogs, research and event information can be found online at www.redherring.com.

About Nano-Tex

Nano-Tex is headquartered in Emeryville, Calif., with operations in Greensboro, NC; Milan; Istanbul; London; New Delhi; Hong Kong; Osaka; Seoul; and Maaseik, Belgium. Nano-Tex develops and markets a family of nanotechnology-based textile treatments that dramatically improves the performance of everyday fabrics. To date, more than 80 textile mills worldwide are utilizing Nano-Tex treatments in products sold by more than 100 leading apparel and interior furnishings brands, including Gap, Old Navy, Lee, Nike, Champion, Levi and Simmons. Products with Nano-Tex enhancements are sold throughout North America, Asia and Europe. www.nano-tex.com

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