Carbon Nanotube TVs

Austin, Texas-based Nano-Proprietary, Inc. announced that its subsidiary, Applied Nanotech, Inc., has signed a letter of intent with Da Ling Co., Ltd, a corporation based in Taiwan, to enter negotiations to form a joint venture dedicated to constructing and operating a pilot line for Carbon Nanotube Televisions (CNT TV). The joint venture will be owned 50% by Da Ling and 50% by Applied Nanotech.
CNT TVs are next generation displays that are ideal for large (60 inch to 100 inch diagonal) flat screen TVs and compare favorably, both visually and technically, with existing large flat screen technologies. According to the 2003 Fuji Chimera Research Institute report, the market for large flat screen TVs is expected to be $100 billion annually by 2010 and CNT TVs have the potential to capture a significant portion of this market.

"We expect CNT TVs to become the standard in large size flat panel displays," said Dr. Zvi Yaniv, Chief Executive Officer of Applied Nanotech, Inc. "CNT TVs are expected to retail for as low as $1,300 once they are in full scale production."

Da Ling is a large diversified company based in Taichung in the Situn District of Taiwan with operations in several industries, including electronics. Da Ling previously organized a consortium of companies that invested $100 million in a pilot line for a large flat screen display using polymer light emitting diodes ("PLED").

"We are excited about this new technology and the business potential for the large area TV market," said Mr. Sunny Tsai, President of Da Ling Co., Ltd. "Taiwan is one of the world’s leading manufacturing centers for LCD Monitors and TVs and we are determined, that with the help of our strategic partner, Nano Proprietary Inc subsidiary ANI, that Taiwan hold that position in the coming transition to the next generation of large flat panel displays. The project team that we previously organized will be to our advantage in the coming endeavor with ANI."

Da Ling will be responsible for managing and funding the joint venture, which will include securing the equipment and location, staffing the facility, and paying all operating costs. Da Ling expects to invest approximately $10 million for equipment alone into the joint venture. Applied Nanotech will provide its expertise related to the application and implementation of the CNT technology.

The joint venture agreement will not include a license to any of the technology used in the pilot line; however it will include pre-negotiated terms for a license agreement to be consummated if the pilot line is successful and the parties decide to move to manufacturing and commercialization. These terms are yet to be determined, but will include an upfront payment and an ongoing royalty at parity with standards in the flat panel TV industry.

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