AUSTIN, Texas, April 24 /PRNewswire-FirstCall/ -- SI Diamond Technology,
Inc. (OTC Bulletin Board: SIDT) through its subsidiary, Applied Nanotech, Inc.
(ANI) today announced that it has signed a technical cooperation agreement
with Mitsubishi Heavy Industries Ltd. (MHI), one of the largest industrial
corporations in the world. According to this agreement, the parties agreed to
collaborate through active technology exchange, research and development, and
commercialization projects that will tangibly contribute toward MHI business.
The R&D and commercialization projects will utilize intellectual property
owned by MHI and/or ANI as well as newly discovered and/or acquired
technologies of MHI and/or ANI. Once a specific commercialization project is
identified and selected, MHI will compensate ANI for its efforts related to
business and technical planning, research and development, and
commercialization assistance under specific contracts.
ANI has an extensive intellectual property portfolio in the field of
nanotechnology and a well-trained and well-managed nanotechnology R&D team.
Mitsubishi Heavy Industries Ltd. has an outstanding record regarding a variety
of products, manufacturing processes and vast experience in commercialization,
as well as confidential and proprietary information regarding nanotechnology.
The collaboration between ANI and Mitsubishi Heavy Industries Ltd. will
greatly enhance the chances of introducing nanotechnology-based products into
the marketplace.
"It is both a big honor and a privilege to collaborate with one of the
most reputable industrial giants in the world," said Dr. Zvi Yaniv, President
and CEO of ANI.
About Mitsubishi Heavy Industries, Ltd.
Mitsubishi Heavy Industries, Ltd., founded in 1884, is headquartered in
Tokyo, Japan and manufactures over 700 diverse industrial and high-tech
products in the shipbuilding, power system, nuclear energy, aerospace,
industrial machinery, and other industries. MHI has over 36,000 employees,
generates sales in excess of 2.3 trillion yen ($20 billion U.S.), and has
capital of $266 billion yen ($2.2 billion U.S.).
SI Diamond Technology is a holding company consisting of two wholly owned
operating subsidiaries. Applied Nanotech, Inc. is a premier research and
development organization dedicated to developing applications for
nanotechnology with an extremely strong position in the field of electron
emission applications from carbon film/nanotubes. Electronic Billboard
Technology, Inc. (EBT) is geared toward licensing its technology related to
electronic digitized sign technology.
SI Diamond Technology's website is http://www.sidiamond.com .
Mitsubishi Heavy Industries' website is http://www.mhi.co.jp/indexe.html .
Safe Harbor Statement
This press release contains forward-looking statements that involve risks
and uncertainties concerning SI Diamond'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 is included in SI Diamond's annual report on
Form 10-KSB for the year ended December 31, 2002, and in reports subsequently
filed by SI Diamond with the Securities and Exchange Commission ("SEC"). All
documents are available through the SEC's Electronic Data Gathering Analysis
and Retrieval system (EDGAR) at http://www.sec.gov or from SI Diamond's web site
at http://www.sidiamond.com . SI Diamond hereby disclaims any obligation to publicly
update the information provided above, including forward-looking statements,
to reflect subsequent events or circumstances.
Company Contact: Media Contact:
Doug Baker
Chief Financial Officer Patti D. Hill
SI Diamond Technology, Inc. BlabberMouth Public Relations
(248) 391-0612 (512) 528-0201
dbaker@ameritech.net patti@blabbermouthPR.com
SOURCE SI Diamond Technology, Inc.
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Related links:
http://www.sidiamond.com
http://www.mhi.co.jp/indexe.html
CONTACT:
Doug Baker, Chief Financial Officer of SI
Diamond Technology, Inc., +1-248-391-0612, or
dbaker@ameritech.net ; or media, Patti D. Hill of BlabberMouth
Public Relations, +1-512-528-0201, or patti@blabbermouthPR.com ,
for SI Diamond Technology, Inc.
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