CALIFORNIA NANOTECHNOLOGIES ANNOUNCES NEW CONTRACT WITH MAJOR AIRFRAME MANUFACTURER
Jun 24, 2015
TSX VENTURE: CNO
CERRITOS, CA, June 24, 2015 – California Nanotechnologies Corp. (“Cal Nano” or the “Company”) is pleased to note that it has received new contracts worth approximately $123,000 US. Of these orders, 62% are in the Research and Development (“R and D”) division, 23% are in the Spark Plasma Sintering (“SPS”) division, 11% are in the Sports and Recreation division, and 4% are in the Oil and Gas division. This brings the total of new orders announced since May 13, 2015 to $259,000 US. Of these combined orders, 37% are in the R and D division, 35% are in the SPS division, 25% are in the Sports and Recreational division and 3% are in the Oil and Gas division.
“The nature of these orders reflects the diversity of the Company's growing revenue base and validates the Company's long term efforts to elevate relationships with major customers, universities and collaborators to a more mature level," stated Christopher Melnyk, CEO. "In this new framework, California Nanotechnologies is now in the position of coordinating larger research and commercialization projects for our major industry partners."
Of particular significance, as part of the new orders announced today, the Company received a $72,000 US order from a large aerospace manufacturer. The successful installation of the large cryogenic mill at the Cerritos facility was a pivotal factor in attaining this award, as the Company can now offer both pilot and midsize Cryogenic capabilities. These material preparation and handling systems, combined with the Company's advanced analytic and characterization capabilities, make the Company a compelling prime contractor for such major customers.
For further information, please contact:
Andrew Bengis, Chief Financial Officer
T: (562) 991-5211
F: (562) 926-6913