US Global Nanospace, Inc. |
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Company description::
Allasso and US Global Nanospace Form Strategic Alliance to Define Future of Nanofiber Production
Exclusive worldwide agreement to manufacture spun-melt nanofibers makes production-scale volumes commercially viable without hazardous by-products
RALEIGH, NC & CARSON CITY, NV -- April 29, 2004 -- US Global Nanospace, Inc. (OTCBB: USGA) and Allasso Industries, Inc. today announced a joint agreement under which US Global Nanospace (USGN) has received sole and exclusive worldwide rights to all nanofiber output from Allasso’s state-of-the-art spun-melt nanofiber production facility for commercial and defense applications. In addition, the companies have formed a strategic alliance for continued nanofiber development, production and commercialization. Allasso has improved on current low-volume, high-cost production methods such as electro-spinning by an order of magnitude of 10 to 100 without the hazardous waste by-products associated with other nanofiber production technologies.
The current facility can produce 65,000 square feet of spun-melt nanofiber material per day. Additional facilities to increase production capabilities are planned to go into operation in 2005. This agreement allows USGN to expand production of its NanoFilter, NanoFilterCX and G-Lam products to meet current and future demand and gives both companies a unified platform for the continued innovation and optimization of nanofiber technology. USGN focuses on applying nanofiber technology to areas where sub-micron fiber diameters enable high filtration efficiency, high surface area and other unique properties that allow the Company to add significant value to its filtering and composite anti-ballistic product lines. This alliance combines Allasso’s skills in turning raw materials into advanced fibers with USGN’s advances in polymer and material research. Both companies believe that these collaborative efforts and innovations will continue to drive the delivery of superior performance products
Benham Pourdeyhimi, Ph.D., Professor and Director, Nonwovens Cooperative Research Center, North Carolina State University College of Textiles and a member of the Allasso Industries Advisory Board, added, “Nanofibers allow us to design materials with properties that would otherwise be unattainable. We welcome the US Global Nanospace agreement as a vehicle for immediately commercializing our state-of-the-art nanotechnology-derived materials. For the first time ever nanofibers can be produced on a commercial scale, economically, and even more significantly, without the hazardous waste by-products associated with other nanofiber production technologies.” Dr. Pourdeyhimi has a distinguished academic and consulting background, including being awarded the Fiber Society Distinguished Scientist Award in 1994.
Walter J. Chappas, Ph.D., President and CEO of Allasso Industries, said, “The nanofiber innovations that US Global Nanospace is pioneering are exactly the kind of products that Allasso was founded to develop and commercialize. Our world-class nanofiber production capabilities are the first of their caliber in this industry and our nanofibers are uniquely applicable to the exciting range of products in USGN’s portfolio.” Dr. Chappas has made wide-ranging contributions to the practical application and commercialization of advanced technology. He serves on numerous scientific and industry conferences and committees and is an author and editor of referenced works in applied physics and materials sciences. Among other distinctions, he has served as an Expert in the United Nations Development Program under the auspices of the International Atomic Energy Agency since 1990.
John Robinson, Chairman and CEO of US Global Nanospace, Inc., commented, “We are pleased to have negotiated this worldwide exclusive agreement with one of the first facilities to have the technology and throughput to make nanofiber production economically viable for commercial manufacturing. This agreement provides US Global Nanospace with a reliable, state-of-the-art source for nanofiber raw materials created to precise specifications, and thus bolsters our ambitious growth strategy on several fronts. We are grateful to the Allasso and US Global Nanospace team members responsible for guiding this agreement to its conclusion, they have achieved a milestone in the development and commercialization of Nanotechnology.”
A photo of the production facility is available at www.usgn.com/NCSAFacility.jpg
About Allasso Industries
Allasso Industries, Inc. offers a portfolio of proprietary fiber and nonwovens microscopy imaging hardware and software solutions, which empower operators and engineers to quantitatively measure various fiber properties including fiber orientation distributions, formation uniformity, and texture. Allasso specializes in developing new technologies having the potential to significantly impact large industrial and military markets. Allasso’s technological core competency is in material modification, manufacturing, and processing of fibers specifically and materials in general. The Company offers a portfolio of imaging products including industrial off-line quality assurance systems, real-time on-line quality control monitors, and R&D quality laboratory analytical devices for the fiber, nonwoven, and pulp & paper industries. More information is available at www.allasso-industries.com.
About US Global Nanospace
US Global Nanospace, Inc. (OTCBB:USGA) is an applied nanotechnology company focused on utilizing nano and sub-micron sized materials to develop comprehensive commercial, security and defense solutions. USGN’s materials and products include the growing G-Lam line of variable threat armor solutions, NanoFilters for HVAC, NanoFilterCX, All-Clear Chem/Bio Decon Foam, S.A.G. Turrets, GARDS HumVee Doors, BlastX and RadomeX. More information is available at www.usgn.com.
Safe Harbor Statement: The statements in this press release are based on assumptions that the management of US Global Nanospace, Inc. believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of US Global Nanospace, Inc. and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and are subject to a wide range of business risks, external factors and uncertainties. Actual results may differ materially from such forward-looking statements. US Global Nanospace, Inc. does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
For more information contact:
Rich Schineller
US Global Nanospace, nc
rich@usgn.com
973-960-6962
For Allasso Industries
Dr. Walter J. Chappas
info@allasso-industries.com
Phone: (919) 424-3771
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