ROCHESTER, N.Y., Feb. 10, 2011 (GLOBE NEWSWIRE) -- NaturalNano, Inc. (OTCBB:NNAN) (Frankfurt:N3N) (), a provider of advanced nanomaterial and additive technology, announced it has signed an extension to its patent licensing agreement with the U.S. Naval Research Laboratory (NRL) covering the commercialization of products based on five (5) patents for extended release technologies.
NaturalNano's Acting CEO & President, James Wemett said, "The extension of this license agreement continues our relationship with the NRL. This relationship advances our strategic plan to commercialize products for a diverse range of markets and solidify our position as a leader in advanced nanomaterials." Wemett continued, "The continued opportunity to utilize and bring NRL's research technology to market and capitalize on the potential inherent in extended release applications is very important to NaturalNano."
Under the license agreement with NRL, NaturalNano has been granted rights to develop and commercialize five very important patents which will be utilized in the NNAN work in the cosmetics and fragrances fields. The continuation of the agreement bolsters NaturalNano's industry-leading intellectual property portfolio in nanomaterials, bringing the Company's total number of patents or pending applications, exclusively owned or licensed, to more than 20.
About NaturalNano, Inc.
NaturalNano, Inc. (OTCBB:NNAN) (Frankfurt:N3N) is a materials science company focused on developing and commercializing advanced nanocomposites. The Company is focused on additive technologies and processes, including its proprietary Pleximer that adds value to industrial polymers, plastics and composites. NaturalNano holds and/or licenses 20 patents and applications relating to Halloysite, as well as proprietary know-how for its extraction and separation processes, compositions, and derivatives. www.naturalnano.com
About the Naval Research Laboratory
Naval Research Laboratory is the corporate research laboratory for the Navy and Marine Corps and conducts a broad program of scientific research, technology and advanced development. NRL has served the Navy and the nation for over 80 years and continues to meet the complex technological challenges of today's world.
Cautionary Statement Regarding Forward-Looking Statements: Contains forward-looking statements regarding future events and future performance that involve risks and uncertainties that could materially affect actual results. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of NaturalNano's filings with the Securities and Exchange Commission. The most recent annual reports on Form 10-K and quarterly reports on Form 10-Q filed by NaturalNano provide information about these factors, which may be revised or supplemented in future reports to the SEC on those forms or on Form 8-K. We caution investors not to place undue reliance on forward-looking statements, and we do not undertake any obligation to update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other such factors that affect the subject of these statements, except where expressly required by law.
CONTACT: Jim Wemett firstname.lastname@example.org NaturalNano, Inc. 585-267-4848