DETROIT, March 11, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp . (OTCQB:CTLE) is pleased to announce the Company has signed a General Agreement with CIATEQ, AC, Advanced Technology Center to develop and market solutions and products based on the industrial application of nanotechnologies.
The General Agreement will further Nano Labs' resources to develop projects, manufacture and produce, the Company's proprietary nanotechnology prototypes and products.
The General Agreement outlines how both organizations will cooperatively develop specific research and commercial product programs and projects which will be subject to Specific Agreements outlining the purpose, activities, ownership, and the general obligations of each party.The Specific Agreements may include any of the following activities: advisory and consulting, scientific research, technological development, engineering projects, training, and evaluation of technologies. In developing and implementing any future Specific Agreement(s), both organizations may negotiate jointly or separately, with other institutions, government departments and/or agencies, national and international, to obtain the necessary business resources to carry out the Specific Agreement(s). Each party will retain the copyrights and their respective industrial property rights for any future partnerships, and will outline any new ownership of copyright or industrial property rights generated, produced or resulting from the activities covered in the Specific Agreement(s). "We are very excited to be working with this esteemed organization. CIATEQ has a long history of success. Their resources – both in terms of technology and human capital – will allow us all to accomplish great things together. Invention and innovation is at the heart of this partnership. So much of science today is collaboration. By opening up development, knowledge can flow in multiple directions and become extremely effective in tackling some of the great challenges facing the world today." explains Dr. Victor Castano, Chief Innovations Officer of Nano Labs. "A cross-disciplinary, resource driven strategy with a common goal will allow us to achieve uncommon results. No one is as smart as all of us thinking and working together."