SOURCE: Advance Nanotech, Inc.

October 14, 2010 12:44 ET

Owlstone Wins Coveted Cambridge Phenomenon Award 2010, Reports Advance Nanotech, Inc.

MONTEBELLO, NY--(Marketwire - October 14, 2010) -  Advance Nanotech, Inc. (OTCBB: AVNA) is pleased to report that Owlstone, Inc. ("Owlstone") has won the coveted and prestigious Cambridge Phenomenon Award 2010 at the 50th Anniversary of The Cambridge Phenomenon Conference "Future Starts Here". Owlstone was voted Cambridge's most exciting company for the future in its field by delegates of the conference. 

In celebration of the 50th Anniversary of The Cambridge Phenomenon and hosted in partnership with Microsoft Research, ARM and Price Bailey, the conference drew on the opinions of some 300 high profile business and technology participants to identify winners from a shortlist of companies preselected by a panel of expert judges with backgrounds in investment, multinational corporations and government. In its 50 year history, Cambridge Phenomenon has been the catalyst for huge growth in more than 1,400 companies, including billion dollar successes such as ARM, Autonomy, Aveva, Cambridge Antibody Technologies, Cambridge Silicon Radio, Solexa and Virata.

In a letter to Owlstone shareholders, Bret Bader, CEO of Owlstone, commented, "We are delighted to win this significant award, not least because the judging panel was made up of such a large number of influential and experienced people from a variety of backgrounds. Although right now we are heavily involved in product development within the military, security and food industries, we consider this external validation of our future potential to be highly encouraging."

Information about The Cambridge Phenomenon can be found at In addition, Owlstone's 60 second presentation by Billy Boyle, co-founder of Owlstone, can be seen at

About Advance Nanotech, Inc. and Owlstone Nanotech, Inc.

Advance Nanotech, Inc. owns a minority position in Owlstone, Inc. ("Owlstone"). Owlstone is a pioneer in the commercialization of chemical detection products. The Owlstone detector is a revolutionary dime-sized sensor that can be programmed to detect a wide range of chemical agents that may be present in extremely small quantities. Using leading-edge micro- and nano-fabrication techniques, Owlstone has created a complete chemical detection sensor that is significantly smaller and can be produced more cost effectively than products using existing technology. There are numerous applications -- across industries from security and defense to industrial process, air quality control and healthcare -- that depend on the rapid, accurate detection and measurement of chemical compounds. Owlstone works with market leaders within these industries to integrate the detector into next generation chemical sensing products and solutions. Owlstone's technology offers a unique combination of benefits, including small size, low manufacturing costs, minimal power consumption, reduced false-positives, and a customizable platform. For more information about Advance Nanotech, Inc. please visit For more information about Owlstone, please visit Follow Advance Nanotech on Twitter:

The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels, market acceptance of product lines, the recent economic slowdown affecting technology companies, the future success of scientific studies, ability to successfully develop products, rapid technological change, changes in demand for future products, legislative, regulatory and competitive developments, the Company's ability to secure additional working capital and/or generate sufficient cash flow to support its operations, and other factors could cause actual results to differ materially from the Company's expectations. Advance Nanotech's Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports and other SEC filings discuss some of the important risk factors that may affect Advance Nanotech's business, results of operations and financial condition. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Contact Information