Advance Nanotech (fka AVNA)

[PSUwx]

Press Release Source: Advance Nanotech, Inc.


Advance Nanotech's Display Division Appoints Dr. Gerhard Rebel As CTO and Tom Holzel to the Board
Thursday January 4, 8:00 am ET


NEW YORK--(BUSINESS WIRE)--Advance Nanotech, Inc., (OTC BB:AVNA.OB - News), the premier provider of financing and support services to drive the commercialization of nanotechnology related products for homeland security and display technologies today announced that the Company's subsidiary, Advance Display Technologies plc ("ADT"), has appointed Dr. Gerhard Rebel to the position of Chief Technology Officer and Tom Holzel, a display industry veteran, to its board of directors. As was announced on December 22, 2006, ADT is in the process of listing its shares on the PLUS-Quoted (OFEX) market in London and expects to be listed by mid-January. Dr. Rebel's appointment serves to strengthen the management of ADT as it commercializes its nine-technology rich portfolio.
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"We are very pleased to have promoted Gerhard to this role. During his service as Senior Vice-President, Technology for Advance Nanotech, Gerhard played a leadership role in building these promising, young technologies into products with real road-maps to commercialization," said Tony Goncalves CEO of Advance Nanotech. Mr. Goncalves continued, "The recently announced planned listing of ADT in London will serve to underline the inherent value and strength of our display technologies."

Dr. Rebel is a former engineering research fellow and lecturer at the University of Reading, UK, where he specialized in mechanical engineering, system modeling, materials science and advance sensor systems. Dr. Rebel holds a BSc and PhD in Mechanical Engineering from the University of the Witwatersrand, South Africa and an MSc in international securities, investment and banking from the ICMA Centre, University of Reading. Dr. Rebel will be leading the development of a portfolio of technologies that will aim to serve current unmet technology needs within the $100 billion display and plastic electronics industries. Dr. Rebel remains a Senior Vice-President for Technology for Advance Nanotech, Inc. and will join the board of directors of ADT.

ADT has also appointed Tom Holzel to its board of directors. Mr. Holzel's expertise in product assessment and the development of strategic positioning campaigns has consistently produced results for many start-ups as well as for companies including Raytheon, Sony, and IBM. While it was still a prototype, Mr. Holzel sold a medical flat panel digital display to Zoll Medical for $12 million, so helping to fund the IPO of display company PixTech. Mr. Holzel sold a high-density low-voltage power supply to Motorola for $20 million, again while still a prototype. Mr. Holzel has been a company officer in four start-ups that led to IPOs and is a recognized expert in flat panel displays. Mr. Holzel was formerly the VP of Marketing for PixTech, a pioneer in the manufacture of first-generation field emission displays and ran their U.S. operations in Silicon Valley. Mr. Holzel has a degree in economics from Dartmouth College.

ADT was formed in August 2006 as one of two operating divisions and majority-owned subsidiaries of Advance Nanotech. ADT recently applied for its shares to be admitted for trading on the PLUS-Quoted (OFEX) market in London (http://www.plusmarketsgroup.com/cgi-bin/NewApplications.cgi?action= DispApplication&ISIN=NEWISSUE06).(Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) ADT has published a prospectus disclosing details of its proposed floatation by way of a placing of 50 million shares at $0.96 (GBP 0.50p) per share. Following the placing there will be 50 million Ordinary Shares in issue, valuing the company at approximately $49 million at the placing price. Advance Nanotech, Inc. will hold 94% of the issued share capital with a market value of just over $46 million. Trading is expected to commence in mid January. A presentation articulating the strategy and portfolio of ADT may be downloaded from: www.adtplc.com.

ADT represents the consolidation of the Company's display technology portfolio and includes nine nanotechnologies providing nano-enabled materials and devices across three display applications areas: flat panel and projection displays, plastic electronics and flexible displays. ADT possesses relationships with the University of Cambridge and the University of Bristol. Of particular note within the portfolio is the NanoFED technology. NanoFED is seeking to utilize the unique properties of diamond, nano-sized dust to significantly increase the performance and lower the price of flat-panel displays that are so popular with consumers. NanoFED has exceeded expectations and ADT intends to showcase the technology to potential licensors within 2007. NanoFED represents the first technology within ADT's pipeline for commercialization and will be its first business built from an academic sourced platform technology.

About Advance Nanotech, Inc.

Advance Nanotech identifies patented, patent-pending and proprietary technologies at leading universities and funds the additional development of such technologies in exchange for the exclusive rights to commercialize any resulting products. Advance Nanotech has interests in over 20 nanotechnologies. In August 2006, the company completed a strategic realignment of its portfolio to more aptly leverage the strengths of the portfolio to provide the greatest value to shareholders. The Company currently possesses a critical mass of technologies in two core areas of activity; Homeland Security and Displays.

By partnering with universities and leveraging the infrastructure and multi-disciplinary human resources of our university partners, we reduce our cost base and mitigate risk. After prototypes are proven within the lab and we develop a product roadmap and business plan, we form majority owned subsidiaries around the specific technology. We seek to return value to our shareholders through the sale or licensing of the technology, by securing additional financing for the subsidiary from either the venture capital community or the capital markets, or by successfully executing our business plan and consolidating its income as the majority shareholder. For more information on Advance Nanotech, please visit www.advancenanotech.com.

This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K and 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q and 10-Q/A, recent Current Reports and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Contact:
Advance Nanotech, Inc.
Meghan Muldoon or Tom Black, 212-583-0080
Investor Relations
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