PEN Inc. (OTCQB: PENC) (“PEN” or “the Company”), a global leader in enhanced performance products enabled by nanotechnology to solve everyday problems, today announced the launch of a new graphene-based product for use in the production of nuclear pharmaceuticals used as diagnostic imaging biomarkers. Patients are given these pharmaceuticals when undergoing Positron Emission Tomography (PET) which is a molecular imaging system that provides clinicians detailed information about diseases such as cancer, neurological disorders and cardiovascular disease.
The new product is a thin carbon foil made of layers of graphene for use in cyclotron accelerators that produce nuclear pharmaceuticals. Developed at the Company’s Applied Nanotech Inc. subsidiary in Austin, Texas, the new graphene foils were part of a DOE Phase II SBIR effort to develop carbon foils for next generation ion beam accelerators. The graphene foils can serve as either stripper foils or extraction foils, both of which are integral to the operation of ion beam accelerators.
“Our new graphene foils are a perfect example of how Applied Nanotech is leveraging research supporting U.S. government priorities into new business opportunities,” said Dr. Scott Rickert, CEO of PEN Inc. Dr. Richard Fink, President of Applied Nanotech noted: “Our team has over 15 years of experience and know-how in the field, including our US Patent No. 6,819,034 that describes the application of graphene in the form of carbon flakes.”
The Company’s graphene stripper foils can overcome critical limitations of alternative materials due to their exceptional physical properties such as mechanical strength, uniformity and high thermal conductivity. Tests performed on an accelerator at Michigan State University show that the lifetime of these foils are two to four times longer than those of currently available amorphous carbon foils. The graphene foils can be made as large as 13 cm (about 5 inches) in diameter and can be easily cut into smaller sections to meet the requirements of various types of equipment used to manufacture imaging biomarkers.
“After using Applied Nanotech’s foils in our cyclotron for the last several months, we are impressed with their reliability. The material is easy to handle, cut and has no defects,” said Dr. Henry Clark, Texas A&M University Cyclotron Institute.
About Applied Nanotech, Inc.
Applied Nanotech, Inc., a PEN Inc. company, is the PEN Design Center focused on developing new products for the PEN family of companies using nanotechnology approaches. Its team of PhD level scientists and engineers works with companies and organizations to solve technical impasses and create innovations. For more information, visit www.appliednanotech.net.
About PEN Inc.
PEN Inc. (OTCQB: PENC) is a global leader in developing, commercializing, and marketing enhanced performance products enabled by nanotechnology that solve everyday problems for customers in the optical, transportation, military, sports, and safety industries. Through its wholly-owned subsidiary Nanofilm Ltd., the Company develops, manufactures and sells products based on nanotechnology including its Ultra Clarity® brand eyeglass cleaner and Defog It™ brand defogging products. The Company’s Applied Nanotech, Inc. subsidiary in Austin, Texas functions as the Design Center conducting research and development services for government and private customers and new product development for PEN focusing on innovative and advanced product solutions in the areas of safety, health, and sustainability. The Company also sells its environmentally friendly HALO brand surface protector, fortifier, and cleaner through its wholly-owned subsidiary, PEN Technology, LLC. For more information about PEN, visit www.penc.us.
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This press release contains forward-looking statements that involve risks and uncertainties concerning our business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in our annual report on Form 10-K for the fiscal year ended December 31, 2014, and in reports subsequently filed by us with the Securities and Exchange Commission.(“SEC”). All documents are available through the SEC’s Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from our website listed above. We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
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