updated 9/8/2010 8:46:31 AM ET 2010-09-08T12:46:31

AUSTIN, Texas, Sept. 8, 2010 (GLOBE NEWSWIRE) -- Applied Nanotech Holdings, Inc. (OTCBB:APNT) is pleased to announce that it has been notified that it has been selected for a SBIR Phase II award to develop carbon foils for the next generation ion beam accelerators.  The amount of the award is approximately $750,000.

There is a strong need for a large area, robust, uniform, low-cost carbon foil that can be used in these next generation ion beam accelerators and APNT's graphene based technology approach is ideal for this application.  APNT is teaming with Argonne National Laboratory and Michigan State University to develop and characterize carbon nanomaterial foils for this application.  This technology also has potential industrial use in particle accelerators used in medical and industrial applications, as well as in material for thermal management, biomaterials and others.

"This is another example of applying our accumulated expertise and knowledge in nanocarbon phases, such as carbon nanotubes and graphene, to identify new business opportunities," said Dr. Zvi Yaniv, CEO of Applied Nanotech, Inc. "Graphene is of high interest to us since we possess strong IP in the field, such as our U.S. Patent 6,819,034, that describes the application of graphene in the form of carbon flakes, as early as the filing date of August 21, 2000, and because Graphene is becoming much more widely used in electronics."

"This contract will add to our already strong backlog of research revenue, which is critical to achieving profitability," said Doug Baker, CEO of APNT.  "As we move closer to our goal of achieving profitability in 2010, it is important that we continue to apply our expertise to a range of technology applications, including both those with near term commercialization possibilities and those which will build a base for future commercialization possibilities."

About Applied Nanotech Holdings

Applied Nanotech Holdings, Inc. is a premier research and commercialization organization focused on solving problems at the molecular level.  Its team of PhD level scientists and engineers work with companies and other organizations to solve technical impasses and create innovations that will create a competitive advantage.  The business model is to license patents and technology to partners that will manufacture and distribute products using the technology.  Applied Nanotech has over 250 patents or patents pending.  For more information about APNT, visit:   http://www.appliednanotech.net .

Safe Harbor Statement

This release contains forward-looking statements that involve risks and uncertainties concerning our business, products, and financial results.  Actual results may differ materially from the results predicted.  More information about potential risk factors that could affect our business, products, and financial results are included in our annual report on Form 10-K for the fiscal year ended December 31, 2009, and in reports subsequently filed by us with the Securities and Exchange Commission ("SEC").  All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from our website listed above.  We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.

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