3 May 2007 07:00
Embargoed Release: 07:00hrs Thursday 3rd May 2007
Nanoscience Inc. (`Nanoscience' or the `Group') Design Win by Future Waves
Nanoscience Inc., the specialist niche investor in emerging technologies with strong commercial propositions from within the growing nanotechnology sector, is pleased to announce that Future Waves UK Ltd (`Future Waves') has secured a significant design win from Pure Digital Ltd, the market leader in digital radios and wholly owned subsidiary of Imagination Technologies plc. Pure Digital is the number one supplier of radios to the UK.
In addition, Future Waves, in which Nanoscience has an approximate 29% equity interest has also been selected by Sunplus Technology Co. Ltd. to provide core technology for inclusion in a range of consumer electronic digital radios to be launched in December of this year.
With operations in the UK and Taiwan, Future Waves is a fabless manufacturer of specialist chips for digital broadcasting including the Digital Audio Broadcasting (DAB) and Digital Multimedia Broadcasting (DMB) markets. Founded in January 2005 as a joint venture between the Group's wholly owned subsidiary, Toumaz Technology Ltd (`Toumaz') and strategic Taiwanese investors, Future Waves is seeking to exploit Nanoscience's core technology IP within the aforementioned digital broadcast markets.
Further to these developments, Future Waves has received ‚£3,000,000 of funding for working capital purposes from leading technology investment house Herald Ventures by way of convertible debt.
Current estimates for the digital broadcast markets predict mobile digital video subscriptions to grow to 125 million users by 2010 and the digital radio market to grow to 130 million users by 2010.
Paul Smith, General Manager, of PURE Digital, commented:
"Future Waves' strength in multi-standard CMOS RF solutions and technical performance of its solution makes it a valuable strategic supplier to PURE. The alignment of Future Waves' roadmap with the product roadmap of PURE also enables a long term relationship which will allow PURE to maintain its leadership position in the digital radio market."
Richard Rose, Chairman of Nanoscience, commented:
"It is with great pleasure that we are able to report on Future Waves' rapid commercial success. The markets which it is seeking to exploit are set for extraordinary growth in the coming years and its early participation in those markets with such recognized and established industry figures as PURE is a major endorsement of the commercial proposition of its technology. Furthermore, we regard its success as a very good indicator of the commercial appeal of the underlying technology currently being developed and deployed into the pharmaceutical and healthcare industries by our wholly owned subsidiary, Toumaz.
I would like to congratulate Future Waves on their success which is further proof of the Group's ability to recognize and invest in commercial technologies at key stages of their development enabling us to maximize the economic benefits of our investing activities'"
-Ends- Further information:Richard Rose Nanoscience 07836 250 474 Andrew Tan Hansard Group 020 7245 1100 www.hansardgroup.co.uk About Toumaz (www.toumaz.com)
Toumaz the recent winner of the first prize at the fifth Oracle PartnerNetwork (OPN) Innovation Awards for Europe, the Middle East and Africa is a developer of advanced RF, analogue and mixed signal semiconductors. The focus of the business is low power devices based on the company's proprietary AMx¢â€ž¢ (Advanced Mixed Signal) technology which addresses the needs of lower power consumption for mobile and wirelessly connected systems.
NANOSCIENCE INC