Posted: March 12, 2010

Owlstone Nanotech Receives Additional Funding From US Government

(Nanowerk News) Advance Nanotech, Inc. has announced that Owlstone Nanotech Inc. has been awarded an additional $200,000 in funding under its existing and previously announced contract with a US government agency. The contract modification provides additional resources for the continued miniaturization of the surrounding electronics employed in Owlstone's chemical detection solution.
"We are pleased with Owlstone's continued progress with the US government on developing a next generation chemical detection solution that fits the strict requirements of the US government," commented Jon Buttles, CEO of Advance Nanotech, Inc. "This contract addition, along with last week's UK Ministry of Defence announcement, provides further validation of the support and potential of Owlstone within government organizations to provide novel chemical detection solutions that are relevant for today's challenging deployment scenarios."
About Advance Nanotech, Inc. and Owlstone Nanotech, Inc.
Advance Nanotech, Inc. owns a minority position in Owlstone Nanotech, Inc. Owlstone is a pioneer in the commercialization of chemical detection products. The Owlstone detector is a revolutionary dime-sized sensor that can be programmed to detect a wide range of chemical agents that may be present in extremely small quantities. Using leading-edge micro- and nano-fabrication techniques, Owlstone has created a complete chemical detection sensor that is significantly smaller and can be produced more cost effectively than products using existing technology. There are numerous applications -- across industries from security and defense to industrial process, air quality control and healthcare -- that depend on the rapid, accurate detection and measurement of chemical compounds. Owlstone works with market leaders within these industries to integrate the detector into next generation chemical sensing products and solutions. Owlstone's technology offers a unique combination of benefits, including small size, low manufacturing costs, minimal power consumption, reduced false-positives, and a customizable platform.
Source: Advance Nanotech (press release)
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