NanoOpto Corp. And MOXTEK, Inc. Announce Joint Product Development Agreement

Ground-breaking collaboration will produce prototypes available for sampling beginning this year

Somerset, NJ and Orem, UT — NanoOpto Corporation, which is applying novel design methods and proprietary nano-fabrication technology to produce a broad range of unique optical components that enable higher quality, low-cost optical components and systems, and MOXTEK, Inc., which pioneered and now manufactures exclusively, using its own proprietary nano-fabrication technology, wire-grid polarizers for leading rear-projection TV manufacturers and other OEM manufacturers working in the range of the Ultra-Violet through the Infra-red to a world-wide market, recently announced they will jointly develop a suite of nanotechnology-based optical products for various consumer electronics markets. MOXTEK's high-volume manufacturing is capable of delivering over 25,000 8-inch wafers of nano-photonics materials and devices per month. MOXTEK also has a division which manufacturers X-ray components and sub-systems for industrial and analytical applications. NanoOpto serves customers across a particularly broad application set including digital imaging, displays, telecom, and the government/military sector.

The pooling of engineering resources between NanoOpto and MOXTEK and a collaboration on the development of new products will enable unique solutions with better time to market not feasible through traditional technologies. The companies intend to provide their customers with superior solutions. This relationship will enhance both companies' abilities to meet the increasing demand from various high-volume consumer electronics markets for optical component parts such as nano-polarizers, nano-trim retarders, and nano-polarization beam splitters. Initially, the companies will support applications addressing the projection display and consumer product manufacturing systems markets where nano-optical components are an excellent fit. Sampling of product prototypes from the joint work will begin this year.

"To this point, all companies working in nanotechnology have gone it alone. Collaboration of this type, even amongst companies with complementary strengths, markets, and goals, has been unheard of." said Barry Weinbaum, President and CEO of NanoOpto Corporation. "We see the potential of the synergies of MOXTEK and NanoOpto, nanotechnology companies with real products, revenues, and customers. Customers will benefit as we meet the ever-increasing demand for high-performance optical components at competitive costs."

"The existing synergies between NanoOpto and MOXTEK are obvious, and the decision to build products jointly for customers will more quickly demonstrate the value of nano-optics across a broader application set. NanoOpto and MOXTEK have mutually beneficial strengths which will be the tipping point for successful, widespread commercialization of ground-breaking technologies," said Henry O'Connell, President & CEO of MOXTEK, Inc. "The demand and potential are there, it must simply be met with the appropriate quality, quantity, and breadth of product capability."

While retaining ownership of their existing intellectual property, patents, technology, and proprietary manufacturing processes, both award-winning companies have considerable ability to share strengths for the mutual good of their respective companies and for their customers, facilitating further deployment of in-demand nano fabricated components. It is expected that products resulting from the collaboration will be announced in 2007.

SOURCE: NanoOpto Corporation