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Advance Nanotech Acquires Equity Stake in Singular ID

New York City — Advance Nanotech, Inc. announced the acquisition of approximately 10 percent equity stake in Singular ID, a nanotechnology spin-off company from the Institute of Materials Research and Engineering (IMRE) in Singapore. As Singular ID commences the commercialization of its technology, Senior Vice President of Business Development, Stephanie Interbartolo will assume a seat on Singular ID's Board of Directors.

"The equity stake in Singular ID represents Advance Nanotech's first significant investment in the Asian nanotechnology market. We are excited about our partnership with Singular ID and the promise that the company's unique technology holds for the prevention of fraud," said Magnus Gittins, Advance Nanotech CEO. "We look forward to working with Singular ID's management team to build out the company and help bring its integrated tagging solutions to market around the globe."

Singular ID provides individually tailored tagging solutions designed to combat counterfeiting and forgeries. The technology offers unique, irreproducible tags with nanoscale magnetic regions that act like fingerprints to identify each tagged item. Advance Nanotech will help Singular ID further develop and commercialize this technology.

"The market for fraud prevention is growing rapidly as technology advances and counterfeiting processes evolve," said Adrian Burden, CEO of Singular ID. "Advance Nanotech shares our enthusiasm for the role of nanotechnology in providing a robust layer of security and protection for items of value. The partnership between our companies gives us access to new manufacturing and funding sources, and will make Singular ID a significant player in the global market."

Advance Nanotech is currently funding 18 portfolio companies in the electronics, biopharma, and materials industries. The firm provides services ranging from funding, to human capital and research equipment essential to ensuring that the most promising companies can accelerate the path to rapid commercialization. In this way, investor exposure to any particular technology is mitigated with Advance Nanotech retaining the option to increase investment in those technologies that successfully mature. Advance Nanotech commenced operations in Asia in March of this year

Jueves, 01 Septiembre, 2005 - 09:47
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