BUFFALO, N.Y.--(BUSINESS WIRE)--July 27, 2004--NanoDynamics, Inc., a leading company in the rapidly growing field of nanotechnology and a manufacturer of superior nanomaterials, today announced the closing of $12 million in private equity funding. To date, the Company has raised over $16 million from private investors including the Company's founders and members of its management team.
With this additional funding, NanoDynamics will continue its strategic plan to aggressively develop superior, affordable, and industrially relevant nanomaterials, establish commercial production facilities, and introduce components and devices whose unique performance characteristics rely on the integration and utilization of nanomaterials and nanotechnology, according to Chief Executive Officer Keith Blakely.

According to Mr. Blakely, NanoDynamics has begun commercial production of electronic-grade copper nanopowders, and its nanotechnology-enabled Revolution-50(TM) portable solid oxide fuel cell is moving rapidly towards routine production in response to strong interest from Fortune 500 companies.

"We are very pleased with the response we received to this most recent financing effort. We significantly exceeded our original objective, which was to raise $8 million in order to take the company into full commercial production of several key products," stated Allan Rothstein, Chairman of NanoDynamics. "We are also pleased to report on the strong interest from several corporations in utilizing our materials and technologies to dramatically improve both industrial and consumer products," Mr. Blakely added.

Additionally, MetaMateria Partners, a subsidiary of NanoDynamics, and ND Innovations, the Company's technology business unit, have been very successful in developing and acquiring significant technology and intellectual property in the nanomaterials space. In the past six months, the organization has expanded its patent and patent application portfolio significantly in several key areas including carbon nanotube synthesis and functionalization, nanostructured metal and ceramic powder production, innovative component fabrication technology to address typical processing issues associated with nanopowders, several design and operational aspects of fuel cell systems, and numerous end-product applications.

Established in 2002, NanoDynamics is pioneering new opportunities for nanotechnology, delivering commercially useful materials into new applications and to numerous industries including energy, electronics, and manufacturing. Additionally, NanoDynamics intends, through strategic alliances, joint venture partnerships, licensing arrangements and selective acquisitions to continue expanding its intellectual property position, product offering, and process capabilities for the purpose of broadening its presence in new commercial markets.

About NanoDynamics
NanoDynamics, Inc. is a leading manufacturer of superior nanomaterials that will dramatically improve the form, function and performance of a wide range of both industrial and consumer products. The Company is uniquely positioned, utilizing proprietary and protected technologies, to commercially manufacture economical, high quality nanomaterials that will enable revolutionary advancements in industries including electronics, semiconductors, consumer products, fuel cells, transportation, energy and biotechnology.

For further information, please visit the Company's website at www.nanodynamics.com.

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