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 sector. 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. NOTES FOR EDITORS 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 site www.uktradeinvest.gov.uk 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 www.entrepreneurs.uktradeinvest.gov.uk Contact: Mark Donougher, +44 (0)207 215 2589. Email: email@example.com 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 www.hansengray.com or by calling (770) 781-6500. News release available online at http://newsroom.uktradeinvest.gov.uk / or for more information on UK Trade & Investment visit www.uktradeinvest.gov.uk 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.