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." About iCurie 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 . Forward-Looking Statements: 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. Contacts: Michael Karpheden iCurie, Inc. Chief Financial Officer Phone: (305) 529-6290 Email: email@example.com 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.