Ground-Breaking Environment-Friendly Cooling Technology Establishes UK HQ for Global Rollout

Apr 14, 2004, 01:00 ET from Hansen Gray & Company, Inc.

    LONDON, April 14 /PRNewswire-FirstCall/-- Today, an historic agreement was
 signed in London paving the way for a former NASA scientist and his team to
 bring their revolutionary new nano-scale, super-cooling technology to the
 world -- from a UK base.  The patented, environment-friendly system is
 expected to have a major global impact on a range of everyday applications --
 ranging from air conditioning to increasing computer speeds.
     After award-winning work on two space shuttle missions with NASA, former
 Samsung scientist Dr. Jeong Hyun Lee created and patented the breakthrough
 cooling technology -- initially to address the development-hindering problem
 of semiconductor cooling.  The radical cooling technology is unique in that it
 does not require fans, pumps, dangerous gases or electricity to be effective.
 The system has been initially applied to semiconductor cooling in overcoming
 one of the biggest barriers in developing faster computer speeds -- heat.
 However Dr. Lee and his team believe the technology could eventually reduce
 the size and running cost of air conditioning by around 70%.
     In a landmark deal that was assisted by UK Trade & Investment, iCurie Lab
 Holdings Ltd. has attracted significant series A investment from specialist US
 Emerging-Technology finance organization Hansen Gray & Company, Inc.
 (OTC: HGCI), to establish the worldwide headquarters in the UK.  The new
 company also hopes to create hundreds of new jobs in the UK nanotechnology
     iCurie's Chief Executive, Dr. Jeong Hyun Lee said: "The world has only
 recently started to understand the true impact of current cooling methods
 which can often consume a significant amount of energy or use chemicals which
 could endanger the environment.  We wanted to provide our solution to the
 problem as efficiently as possible from a global-rollout perspective.  We
 found that the UK offers the ideal financial, technical and corporate
 environment from which to grow a major global business."
     Mark E Gray, Chief Executive of Hansen Gray & Company, Inc, said: "We
 could not be more pleased to have completed the iCurie agreement, and our
 special thanks goes to the British Government's Global Entrepreneur Programme
 and their crucial support.  We believe in world-class management teams, as
 well as businesses with the potential for sustainable growth based on quality
 and innovation in the value chain, versus ones that compete solely on price.
 We were very impressed with Dr. Lee and iCurie's underlying innovations which
 embody all of these qualities, when properly supported in the right funding
 and development environment."
     William Pedder, head of UKTI's Inward Investment team said: "This
 important agreement represents a double-win for the UK, by attracting both
 word class scientists and intellectual property in iCurie Labs, as well as
 significant inward-investment finance from Hansen Gray & Company to the UK.
 We are delighted that the strengths of the UK have once again been recognized
 as one of the most favorable locations in the world for establishing a
 knowledge-based global business."
     iCurie and Hansen Gray were provided with assistance and resources of
 UKTI's Global Entrepreneur Programme, crucial information on key strategic
 funding sources, as well as professional advice from PricewaterhouseCoopers on
 the most efficient corporate structure to create, protect, and develop a new
 major global business.
     1. UK Trade & Investment is the government organization that provides
 integrated support services for UK companies engaged in overseas trade and
 foreign businesses focused on the UK as an inward investment location.  It
 brings together the work of teams in 200 British embassies and FCO posts
 overseas and government departments across Whitehall.  In England, UK Trade &
 Investment services are delivered through the 45 Business Links and other
 partners including Regional Development Agencies and Chambers of Commerce,
 coordinated by nine regional International Trade Directors. The devolved
 administrations in Scotland, Wales and Northern Ireland have their own
 arrangements for local delivery of services.  UK Trade & Investment's work
 ensures UK and overseas companies benefit from the organization's continuing
 commitment to provide an integrated service, delivering business opportunities
 through a global network.  For more information visit the web
     2. The UK Global Entrepreneur Programme is a specialist team created
 within UK Trade & Investment.  Comprised of successful entrepreneurs and
 venture capitalists known as "Dealmakers", the team use their extensive
 networks and experience to identify and attract the highest calibre flow of
 "People and Ideas of Exceptional Potential" to the UK.  For more information
 visit the website at
 Contact: Mark Donougher, +44 (0)207 215 2589.
     3. Hansen Gray & Company, Inc., (OTC: HGCI) is a holding company based in
 Atlanta, Georgia.  The firm's management has substantial experience in
 investment banking and plans to complete a series of strategic investments and
 acquisitions in 2004. Specifically, the firm's investment focus is in the
 areas of bio-tech, alternative energy and emerging technology companies.
 Additional information on the firm is available at or by
 calling (770) 781-6500.
     News release available online at / or
 for more information on UK Trade & Investment visit
     For photographs of the signing ceremony please contact Chris Salter on the
 number below.
     For further press information please contact Chris Salter, Press Officer
 UK Trade & Investment on: 020 7 855 4625.

SOURCE Hansen Gray & Company, Inc.