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DETROIT, Oct. 9, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce today the Company has signed a Collaboration Agreement with Soluciones Nanotecnologicas, S.L., (Nanotex®) Spain to launch an Industrial Applications Development Program (IADP) to design and develop new industrial applications suitable for commercialization of "nano scale magnetic particles."
The Collaboration Agreement outlines the establishment of a joint work group for the purpose of creating a consistent product which addresses the growing market share worldwide in the nano tech magnetics industry.
The Companies are currently working together to fast-track the exchange of technical information necessary for the initial testing, and outline the commercial scope and market niches.
The Companies will work together to develop and commercialize nanomagnetic technology, patents, utility models, industrial designs, for industrial and commercial applications. All Technical Information in the form of test and performance data from tests of samples provided under this Agreement shall be the jointly owned property of the Companies.
"In developing this joint venture, our goal was to accelerate the commercialized development of consistent nano-scale magnetic particles and products in this rapidly evolving sector. We envision that our partnership will be well positioned to launch new magnetics-based nanotechnologies in the electronics, biomedicine and diagnostics industries," states Mr. Bernardo Chavarria, President of Nano Labs.
About Nanotex® Soluciones Nanotecnologicas S.L.
Established in 2007, Soluciones Nanotecnologicas S.L. (Nanotex®) is a spin-out company of the Solutex Group. The Company has developed in-house technologies for the industrial production of superparamagnetic nanoparticles. Due to their extraordinary physicochemical characteristics, superparamagnetic nanoparticles represent a breakthrough in several fields like cosmetics, automobiles or aeronautics. The Company focus is on Innovative Medical Solutions and Ecological Solutions. For more information, please visit
About Nano Labs
Nano Labs Corp. (CTLE) is a nanotechnology research and development company which began during October 2012, but is able to access resources that encompass nearly 30 years of research and development in nanotechnology as well as hundreds of peer-reviewed and published research papers and other scholarly material. The Company's research and development team of scientists, designers, and engineers is focused on creating a portfolio of advanced products that could provide benefits to a variety of industries including: (i) consumer products, (ii) energy, (iii) materials, and (iv) healthcare. Through the use and integration of proprietary nano compounds, our goal is to evolve common products into new, revolutionary products in order to make the world a better place. Nano Labs shares are traded on the OTC Bulletin Board in the United States under the ticker CTLE. For more information, please visit
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http://www.globenewswire.com/newsroom/prs/?pkgid=16293Forward looking statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings with the OTC Bulletin Board or as a result of other factors.