News Release

GE Global Research and Molecular Nanosystems to develop nanostructure-based field emission devices.

December 16, 2002. GE Global Research (Niskayuna, NY) and Molecular Nanosystems (Palo Alto, CA) have jointly won a National Institute of Standards and Technology (NIST) Advanced Technology Program (ATP) award to develop a template synthesis platform for growing large arrays of aligned nanorods. The three-year, $5.8 million program is focused on taking nanotechnology out of the lab and onto the manufacturing floor by creating a scalable, low-cost platform to precisely control the structure and fabrication of advanced materials. These materials can be used in highly specialized applications from medical imaging systems, to fluorescent lamps, to flat-panel displays. If successful, this program could have a significant impact on the detection of diseases, such as cardiovascular disease and breast cancer, and on the use of energy by everyday products.

The mission of GE Global Research's nanotechnology program is to create breakthrough business impact by demonstrating the use of nanomaterials in GE products. Its team of researchers, ranging from material scientists to chemists, studies the properties and composition of nanomaterials and seeks to make them behave in a way that is beneficial for business applications.

Molecular Nanosystems produces high-quality single and multi-walled carbon nanotubes in massive arrays and networks. Their patent-protected method for creation is scalable and uses site-selective chemical vapor deposition.

"We are really excited about this opportunity to exhibit how advanced materials can perform to the requirements of actual applications. Molecular Nanosystems' expertise in producing quality carbon nanotubes will allow GE Global Research to accelerate our highly innovative materials efforts," said Margaret Blohm, manager of nanotechnology programs at GE Global Research.

"We are excited about working with GE Global Research. The company's leadership in technology innovation, product integration, and its entrepreneurial spirit will provide for a fruitful and successful collaboration. This partnership signifies an important milestone in the growth of our company and validates the importance of nanotechnology in various segments of our economy," said Xihong Deng, CEO of Molecular Nanosystems.
NIST-ATP awards are earned through a peer-reviewed competition, with innovation, technical risk, potential economic benefits to the nation and the strength of the commercialization plan of the project, as criteria. ATP provides cost-shared funding to industry-led teams that can include non-profits and universities to help advance challenging, high-risk research and development projects that have the potential to spark important, broad-based economic or social benefits for the United States.

About GE Global Research

GE Global Research is one of the world's most diversified industrial research labs, providing innovative technology for all of GE's businesses (NYSE: GE). Global Research has been the cornerstone of GE technology for more than 100 years, developing breakthrough innovations in areas such as medical imaging, energy generation technology, jet engines and lighting. GE Global Research is headquartered in Niskayuna, New York and has facilities in Bangalore, India, Shanghai, China and Munich, Germany. Visit GE Global Research at www.research.ge.com.

About Molecular Nanosystems, Inc.

Molecular Nanosystems, Inc. is engaged in research, development, production and distribution of nanotube-oriented products and systems using leading-edge nanotechnologies. Its suite of nanotube-based end products are intended to provide improvements in scale, density, sensitivity, selectivity, integration and power consumption. These products will have a fundamental impact in electronic, biological and chemical industries. Molecular Nanosystems was founded in 2001 by Dr. Hongjie Dai, an Associate Professor at Stanford University and a world-renowned scholar and scientist in the nanotechnology research field. Headquartered in Palo Alto, California, Molecular Nanosystems can be found online at www.monano.com.

Contact:
General Electric
Jim Healy
(518) 387-6284
healyj@research.ge.com

Molecular Nanosystems
(650) 846-2519
info@monano.com


©2001 Molecular Nanosystems. All rights reserved.