TSX VENTURE: CNO
CERRITOS, CA, May 13, 2015 /CNW/ - California Nanotechnologies Corp. ("Cal Nano" or the "Company") is pleased to note that it has received new contracts worth approximately $136,000 U.S. Of these orders, 47% are in the Spark Plasma Sintering ("SPS") division, 37% are in the Sports and Recreation division and 13% are in the Research and Development division.
The Company is also pleased to announce the sale and installation of new SPS systems at three U.S. universities and a Mexican research facility, since January 2015. As the exclusive technical partner of Fuji SPS, Cal Nano benefits from these four sales in that it receives a commission on each unit sold in it's territory (the US, Canada and Mexico) and is compensated for the installation and training required at each site. "The Company should experience additional growth providing customers with consumables and maintenance services over the life of each SPS furnace installed, "stated Christopher Melnyk, CEO. "The unique nature of SPS technology makes this one of the fastest growing divisions at Cal Nano. The combination of sales, installation, training and after market service will provide key revenue streams that contribute to the sustainability of the Company."
"The sports and recreation contract mentioned above builds on the success in the sports market place of the adidas "adiZero Prime SP" track and field product line, which is dependent on the nano products delivered by the Company. The Company has just delivered the last shipment of these key adidas components from the original large order announced in late 2013," stated Andrew Bengis, CFO. "Cal Nano is now preparing for the required new deliveries of this product line. The Company has been notified that this project is scheduled to continue until approximately 2020."
Of particular note, Cal Nano introduced a new sports and recreation product at the Mt. Sac International Track and Field Relays in Walnut, California in April 2015. This event is considered one of the premier track and field events in the world with over 10,000 athletes attending. The Company has begun shipping this new product line to customers in the U.S.
In addition, the Company has signed non-disclosure and confidentiality agreements with two major Japanese automotive manufacturers. The orders noted above include an initial contract from one of the companies.
Continuing the Company's engagement with the scientific community, Cal Nano exhibited at the TMS 2015 annual meeting (The Minerals, Metals, and Materials Society) from March 15 through March 19, 2015, in Orlando, Florida. The Company also exhibited at the Ceramics Exhibition in Cleveland, Ohio on April 29 and 30 of this year. "The nature of this conference, which connects the global ceramic community, provided a unique chance to demonstrate the Company's abilities in the SPS area," stated Christopher Melnyk, CEO. "The Company developed a significant potential new customer base from this conference, which bodes well for future marketing efforts. The Company continues to diversify it's product line and customer base as it builds a sustainable business for the future."
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risk and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
SOURCE California Nanotechnologies Corp.
For further information: Andrew Bengis, Chief Financial Officer, T: (562) 991-5211, F: (562) 926-6913, E: [email protected], W: www.calnanocorp.com