CALIFORNIA NANOTECHNOLOGIES ANNOUNCES NEW ORDERS AND OUTLOOK FOR FISCAL YEAR 2019
Created at :
Mar 7, 2018
TSX VENTURE: CNO
LOS ANGELES, CALIFORNIA, March 7, 2018 - California Nanotechnologies Corp. ("Cal Nano" or the "Company") is pleased to announce that revenue for the fourth quarter ending February 28, 2018 was approximately US$200,000. This revenue consisted mainly of work that was executed using the new Spark Plasma Sintering (SPS) unit that was installed toward the end of fall 2017.
The Company would like to announce that it has received new orders valued at over US$200,000 since its last press release dated November 23, 2017. Of these new orders, the Company has received contracts valued at approximately US$85,000 from the large chip fabrication customer with whom Cal Nano has been developing an innovative new component for its manufacturing process. These contracts include new prototypes with more complicated design components along with the development of an elaborate testing apparatus for analyzing prototypes and, in the future, fully developed parts. “The next set of prototypes is expected to be delivered in April 2018 for customer evaluation” stated COO Eric Eyerman.
With the addition of the larger SPS system, the Company expects continued growth in F2019. The company hopes to move from the R&D and pilot scale SPS services that it currently provides to customers into the production of parts using SPS technology in the coming year. “We have performed R&D for multiple customers that are showing possible interest in transitioning to production. The customers are currently evaluating samples and the next steps will be discussed over the next few months as the evaluations are completed” stated SPS manager Brian Weinstein.
The Company is currently working on multiple programs utilizing SPS technology including one with a large National Laboratory on the development of sintering advanced raw materials, which will later be modified for nuclear energy applications. Phase 1 of this program was started in December 2017 and the first prototypes are scheduled to be delivered in April 2018. Another program just completed with commercial applications that involved sintering dozens of 4” plates using a variety of different metallic materials. The customer is currently testing the plates and is submitting a proposal for additional funding to continue the work
For further information, please contact:
Eric Eyerman, CEO