Applied Nanotech Holdings, Inc. announced this morning the signing of an exclusive worldwide license agreement with a leading industrial chemical products company in Japan for manufacturing and commercializing nano-copper inks and pastes. The company will receive an upfront payment of $1.5 million, of which $500,000 is payable immediately, and $1.0 million is payable in June 2010. Applied Nanotech will also receive a royalty of 4% of sales of the copper inks and pastes by its partner. Discussions for a new research and development contract have also begun.
“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. Securing a trusted, high quality technology partner with a broad base of products used in electronic applications plays a vital role in our approach,” stated Dr. ZviYaniv, Chief Executive Officer of Applied Nanotech, Inc.
“We are pleased to have reached this milestone,” added Doug Baker, CEO of APNT. “We look forward to a long and beneficial relationship with our partner in this area and the opportunities that this relationship provides.”
Dr. Robert Ronstadt, Chairman of APNT, commented, “I believe we will look back on this license, which provides strong support for the viability of our business model, as a seminal event in our company’s history.”