NaturalNano Extends License Agreement with U.S. Naval Research Laboratory for Controlled Release Applications for Nanomaterials
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ROCHESTER, N.Y., Feb. 10, 2011 - NaturalNano, Inc. (OTCBB:NNAN) (Frankfurt:N3N) (www.naturalnano.com), a provider of advanced nanomaterial and additive technology, announced it has signed an extension to its patent licensing agreement with the U.S. Naval Research Laboratory (NRL) covering the commercialization of products based on five (5) patents for extended release technologies.
NaturalNano's Acting CEO & President, James Wemett said, "The extension of this license agreement continues our relationship with the NRL. This relationship advances our strategic plan to commercialize products for a diverse range of markets and solidify our position as a leader in advanced nanomaterials." Wemett continued, "The continued opportunity to utilize and bring NRL's research technology to market and capitalize on the potential inherent in extended release applications is very important to NaturalNano."
Under the license agreement with NRL, NaturalNano has been granted rights to develop and commercialize five very important patents which will be utilized in the NNAN work in the cosmetics and fragrances fields. The continuation of the agreement bolsters NaturalNano's industry-leading intellectual property portfolio in nanomaterials, bringing the Company's total number of patents or pending applications, exclusively owned or licensed, to more than 20.
About NaturalNano, Inc.
NaturalNano, Inc. (OTCBB:NNAN) (Frankfurt:N3N) is a materials science company focused on developing and commercializing advanced nanocomposites. The Company is focused on additive technologies and processes, including its proprietary Pleximer that adds value to industrial polymers, plastics and composites. NaturalNano holds and/or licenses 20 patents and applications relating to Halloysite, as well as proprietary know-how for its extraction and separation processes, compositions, and derivatives. www.naturalnano.com
About the Naval Research Laboratory
Naval Research Laboratory is the corporate research laboratory for the Navy and Marine Corps and conducts a broad program of scientific research, technology and advanced development. NRL has served the Navy and the nation for over 80 years and continues to meet the complex technological challenges of today's world.
CONTACT:
Jim Wemett
info@naturalnano.com
NaturalNano, Inc.
585-267-4848
