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.
