Nanostellar Inc., an emerging developer of highly efficient Nano Catalyst solutions for Clean Air and Clean Energy, today hosted a visit by Representative Mike Honda.
MENLO PARK, CA (PRWEB) January 22, 2005 -- Nanostellar Inc., an emerging developer of highly efficient Nano Catalyst solutions for Clean Air and Clean Energy, today hosted a visit by Representative Mike Honda of Silicon Valley, who introduced to the House of Representatives the ‘‘21st Century Nanotechnology Research and Development Act passed December 3, 2003 and signed by President Bush that established a National Nanotechnology Program with funding of $3.2 billion over Fiscal Years 2005 - 2008.
On June 23, 2004, in Washington, DC Congressman Mike Honda introduced HR 4656, the "Nanomanufacturing Investment Act" to create a public-private partnership to bridge the funding gap between nanotechnology research – which manipulates material at the level of individual atoms and has the potential to be a $1 trillion global market industry in the next decade – and its ultimate commercialization in the marketplace.
"Nanostellar is a 'clean energy' company that is bringing manufacturing jobs to Silicon Valley, while helping the region solve its pollution problem," Congressman Honda said. "This is a prime example of using nanotechnology for constructive applications."
Dr. William Miller, Founder, Chairman of the Board of Nanostellar, prior President & CEO of SRI International and Vice President & Provost of Stanford University, stated: " We are pleased to show Congressman Honda our proprietary Rational Design & Rapid Fabrication process for Nanomaterials. This technology is based on nanotechnology research from Stanford, which we are now commercializing in the marketplace. The National Nanotechnology Initiative has set 'Nano Materials by Design' as the first Grand Challenge. Having started the synthesis and fabrication work in April 2004, we have successfully implemented our software modeling & design technology and synthesized & tested nano-composite catalysts. The result is that we are now in beta test for our first products and expect to generate recurring revenue by the end of this year."
Mr. Michael Pak, Founder, President & CEO of Nanostellar, was pleased with the meeting. "United States nanotechnology research enabled us to start a company that can address people's needs in Silicon Valley, California, and the world by creating nano-catalysts that enable clean energy and a clean environment. Our technology enables us to keep improving our products to meet not just current pollution control requirements but also future regulations, such as the lean burn diesel rules that will come into force in 2007. Nanotechnology must deliver real products in order to assure continual government and popular support of the research programs at NASA-Ames, Stanford, and other places. This support creates the basis for new technologies, new companies, and new jobs in Silicon Valley and the United States."
Founded in 2003, Nanostellar addresses a critical need in the catalytic marketplace: conventional technologies utilize platinum as the main catalyst to control automobile emissions and to generate clean energy power. Nanostellars patent-pending platinum nano-composite material design technology dramatically reduces the amount of platinum required for conventional catalytic processes by combining platinum with other less costly metals to make nanoparticles.
David Aslin, a partner with 3i who is a Board Member and the lead investor in Nanostellar's A Round Funding commented: As a committed early stage investor in the nanotech space, 3i is pleased to work with Congressman Honda and policy makers to help focus government funding in areas that will benefit the economy and people of the United States. Nanostellar has a great value proposition for the initial application in the vehicle catalytic converter market and also in other clean energy areas. As investors we are most concerned about time to market and cost to market. Nanostellar management has shown a very efficient use of capital to date, moving in nine months from starting full time operations to beta product release."
Moreover, the companys success in its technology and customer engagement demonstrates the high value that the companys platform provides in tackling the ‘holy grail of nanotech catalyst applications – the connection between catalytic performance designed on the software platform and the performance of the catalyst delivered by the rapid fabrication process. Customers will use Nanostellars catalysts not only to reduce costs and improve financial performance but also to build competitive advantage in their supply chain," continued Aslin.
Nanostellar plans to sell its products through top tier vendors in the vehicle catalytic converter value chain. The company has filed five broad patent applications to date on proprietary technology for the rational design and rapid fabrication of efficient and low cost nano catalysts. Application areas include gasoline engine three-way catalysts, lean-burn diesel engine catalytic materials, fuel cell proton exchange membrane assemblies, and catalysts for the chemical and petrochemical industries.
For more information please contact:
Nanostellar Media contact:
Sandra Kay Helsel, Ph.D.
SK Helsel & Associates
Tel: 520-325-4636
SKHelsel@SKHelsel.com
www.SKHelsel.com
3i US Media Contact
Katja Gehrt
Marketing Manager
650-470-3210
katja_gehrt@3i.com
www.3ius.com
Congressman Mike Honda Media Contact
John P. Staunton
Communications Director/Counsel
202-225-2631
jay.staunton@mail.house.gov
www.honda.house.gov
About Nanostellar
Nanostellar, Inc. is a Menlo Park, CA based company focused on Enabling Clean Energy and Clean Air with Nano Catalysts. The technical breakthrough is based on a fundamental understanding of catalytic processes and materials design at the quantum chemistry level, enabling the rational design and development of nano materials.
Nanostellars management team includes Dr. William Miller (Chairman), a former VP and Provost of Stanford, CEO of SRI International and Director of Argonne National Laboratory and Michael Pak (CEO) with 15 years of business development, marketing and engineering experience in Silicon Valley.
About 3i
3i is a leading international venture capital and private equity firm that was founded in 1945 to invest in buyouts, growth capital and venture capital in order to create market-leading companies. Since its inception, 3i has invested worldwide over $31 billion, including co-investment funds, with a total staff of 700 employees operating out of 30 offices in 14 countries.
In the U.S., 3i invests in both early and late stage technology companies in the software, communications, semiconductor and healthcare sectors. 3i leverages over 150 years of investing and operating experience and a global network to create value for its portfolio and investment partners. With a proven track record and knowledge of venture capital investing, 3i provides "hands on" support and guidance in building and scaling successful businesses.
3i is a successful active early and late stage investor. We have 10 partners in our U.S. offices in Menlo Park, CA. and Waltham, MA. Recent investments in early stage companies include Bitfone, Crystal IS, Nanostellar, TransMedics, NeoGuide Systems, DAFCA, SiGe Semiconductor, Discera, and OmniGuide. 3i has been equally active on the late stage, with recent investments in Vonage, Skystream Networks, Speakeasy, Impact Rx, Merchant e-Solutions, Placeware, Swissray, Top Layer, and Vette Corp. Visit 3i and its portfolio at www.3ius.com.
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