Nano-Proprietary Signs Exclusive Agreement for Hydrogen Products

Nano-Proprietary Signs Exclusive Agreement for Hydrogen Products

Austin, TX-based Nano-Proprietary, Inc., through its subsidiary, Applied Nanotech, Inc. (ANI), recently announced it has signed an exclusive development, purchase and license agreement with an international electrical measuring equipment company for the measurement of hydrogen in power transformers, tap changers and breakers.

According to the company, ANI will provide pre-production design, development and engineering work, as well as sell hydrogen sensors to be used in the final product, while the purchaser will pay a royalty equal to 10 percent of the sales of the products containing the hydrogen sensors, with minimum royalties of $55,100 beginning October 1 and increasing to $1,000,000 annually by the beginning of the fourth year.

Nano-Proprietary noted that the purchaser could avoid the minimum royalty payment by terminating the exclusivity portion of the agreement prior to the start of each year.

Contact: Doug Baker, Nano-Proprietary, phone 248-391-0612, e-mail dbaker@ameritech.net.

(EIN STAFF: 7/6)

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