August 28, 2007 -- API Nanotronics Corp. (OTCBB: APIO) ("API") (the "Company"), a leading supplier of electronic components and nanotechnology research and development for the defense and communications sectors, today announced commencement of operations at its new nanotechnology clean room facility in New Jersey.
API acquired all of the research and fabrication facilities and intellectual property of NanoOpto Corp. in July 2007. API has now hired substantially all of the former NanoOpto engineers and technicians and has begun manufacturing nano-optical products based on nano-gratings and atomic layer deposition (ALD), the hallmark of NanoOpto's advanced nanotechnologies. The new division operates under the name API Nanofab Corporation and is located in Somerset, New Jersey.
The API Nanofab division will develop and produce polarizers, retarders and filters covering the infrared, visible and ultraviolet region of the spectrum based on nano-gratings and hybrid optics developed by NanoOpto. In addition to the advanced line of nano-optical products, API plans to build new clean room facilities in the expansion space available at the facility to support its business in discrete semiconductor products, thin-film electronics and magnetics. API also plans to develop a series of optical biosensor technologies based on nano-plasmonics. API's Chief Technology Officer, Dr. Martin Moskovits, is an expert in nanotechnology and specifically in plasmonics through his long-standing expertise in Surface-Enhanced Raman Spectroscopy.
"The nanofabrication capabilities and engineering talent that we have acquired through NanoOpto allows us to develop and fabricate advanced nanosensors with unprecedented detection capabilities and reliability," stated Dr. Moskovits. "Although we have only been in this new facility for a little over a month, we have already been contacted by several global companies who are interested in co-developing optical products based on our nanofabrication and ALD capabilities."
API now has one of the largest production facilities in the United States for atomic layer deposition (ALD). ALD is capable of conformally coating materials, even nanostructured materials, with uniform layers of any number of oxides, semiconductors and metals, creating an entirely new generation of thin-film optics and thin-film electronics products.
Phillip DeZwirek, Chairman and Chief Executive Officer of API Nanotronics Inc., said, "API is very serious about its goals of entering the nano space and being a leader in next generation nanotechnology products for our customers. I believe this event is a strong indication of our efforts to date and our future intentions."
About API Nanotronics Corp.
API Nanotronics Corp., through its wholly owned subsidiaries API Electronics Inc., National Hybrid Inc., Filtran Group, TM Systems, Keytronics and API Nanofab Corporation, is engaged in the manufacture of electronic components and systems for the defense and communications industries. API is also developing a leadership position in the R&D and manufacture of nanotechnology and MEMS products. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin, and numerous other top technology-based firms around the world, API regularly ships products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York, New Jersey, Florida and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. API Nanotronics trades on the OTC Bulletin Board under the symbol APIO. For further information, please visit the company website at www.apinanotronics.com
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Except for statements of historical fact, the information presented herein constitutes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which API Nanotronics Corp. and its subsidiaries and affiliates have little or no control.
ON BEHALF OF THE BOARD
API Nanotronics Corp.
Phillip DeZwirek, CEO