SEOUL, South Korea, Nov. 3 /PRNewswire-FirstCall/ -- iCurie, Inc.
(OTC: ICUR), a full solution provider in the field of thermal heat management
for the PC, consumer electronics, lighting and display industries, announced
today it has executed a letter of intent with Advanced Energy Technology, Inc.
("AET"), a leading producer of electronic thermal management solutions under
the eGRAF (R) brand name. AET is a subsidiary of GrafTech International Ltd.
(NYSE: GTI), one of the world's largest manufacturers of high quality
synthetic and natural graphite and carbon based products.
The partnership between AET and iCurie will involve the sales and
marketing by AET of iCurie's current products utilizing AET's extensive
network and capitalizing on the commercial success already achieved by AET in
the thermal management market. AET will have exclusive rights to sell and
market certain iCurie products for specific market segments. In addition, AET
and iCurie will jointly work on the development of new products based on the
combination and integration of AET and iCurie's current thermal management
technologies, including AET's graphite material science based thermal
management and iCurie's micro fluidic thermal management technologies. Jointly
developed products will be sold and marketed by AET.
Hakan Wretsell, Chief Executive Officer of iCurie, said, "This is a major
opportunity for us to work with one of the world's largest companies engaged
in commercializing new thermal management technologies based on expansive
graphite and carbon science. Importantly, this joint development partnership
could move iCurie's proprietary thermal management technology into
commercialization in yet another materials environment. We have already shown
very good test results in solutions based on copper, silicon and aluminum. The
distribution potential of the partnership with AET is just as important. AET
has significant marketing and distribution experience as shown through their
rapid commercialization of eGRAF(R) thermal management products. Through their
sales network, we expect to rapidly commercialize our products in completely
new industries, such as the automotive and flat panel display industries."
Dr. Jeong Hyun Lee, Chief Technology Officer and Founder of iCurie, said,
"Graphite opens vast new opportunities for our customers to apply our thermal
management solution in several new product categories given graphite's light
weight, malleability and competitive cost. By managing heat even more
efficiently, we can continue to improve performance, quality and product
lifetimes. From an operations standpoint, this partnership could give iCurie
immediate access to a complementary R&D organization and add powerful sales
and marketing resources to help ensure the successful commercialization of
jointly developed products."
John Wetula, President of AET, commented, "Collaborating with an
innovative science based company in the thermal management market represents
an important strategic initiative for AET. Adding iCurie's current
technologies and products to our portfolio will allow AET to leverage our
success with eGraf(R) products to further our vision of becoming the world's
leading thermal solutions provider. The joint development of next generation
thermal management solutions will create new opportunities in various market
segments and accelerate the achievement of our goals."
iCurie is a full solution provider in the field of thermal heat management
for the PC, consumer electronics, lighting and display industries. The
Company is a leader in developing and commercializing next-generation cooling
solutions built on iCurie's patents in thermofluid nanotechnology. Former
Samsung scientist Dr. Jeong Hyun Lee, also known for his award-winning work at
NASA on two space shuttle missions, leads iCurie's team of engineers. iCurie's
extensive intellectual property portfolio includes patents registered in Korea,
the U.S., Japan and Taiwan, with patents pending in the EU, Russia, India and
in China. For more information, visit http://www.icurie.com .
About Advanced Energy Technology Inc.
Advanced Energy Technology Inc. is one of the world's leading
manufacturers and providers of high quality natural graphite and carbon-based
products for customers worldwide in the electronics, fuel cell, automotive,
power generation, semiconductor, transportation, and petrochemical markets.
GRAFCELL(R), GRAFOIL(R), and eGRAF(R) are registered trademarks of AET. For
more information on Advanced Energy Technology Inc., call 216-529-3777 or
visit our website at http://www.graftechaet.com . For additional information
on our parent, GrafTech International, call 302-778-8227 or visit our website
at http://www.graftech.com .
This press release contains forward-looking statements, involving risks
and uncertainties. Such statements are based on management's current
expectations and are subject to certain factors, risks and uncertainties that
may cause actual results, events and performance to differ materially from
those referred to or implied by such statements. In addition, actual future
results may differ materially from those anticipated, depending on a variety
of factors which include, but are not limited to, iCurie's ability to attract
investors, iCurie's future operating results, and general economic conditions
affecting consumer spending, including uncertainties relating to global
political conditions, such as terrorism and the conflict with Iraq. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company does not intend to update
any of the forward-looking statements after the date of this release to
conform these statements to actual results or to changes in its expectations,
except as may be required by law.
Chief Financial Officer
Phone: (305) 529-6290
David Pasquale / Abbas Qasim
The Ruth Group
Executive Vice President
Phone: 646-536-7006 / 7014
Email: firstname.lastname@example.org / email@example.com
SOURCE iCurie, Inc.