NaturalNano, Inc. (OTCBB: NNAN) announced this morning that it has received a first payment from a Fortune 200 corporation for HNT™ extended release technology. The company added that they are not releasing the name of the Fortune 200 company name at this time due to competition reasons. This is only one of several orders NaturalNano has with Fortune 500 companies.
“We’ve demonstrated our HNT technology as a superior additive for plastics. We’re now focused on customer-specific product development and gearing up for production shipments with both large and mid-size companies,” stated Cathy Fleischer, Ph.D., NaturalNano President and CTO. “We remain pleased with our progress toward our 2008 performance goals. Specific terms of the agreements and the names of some of these customers are being withheld at their request for competitive reasons,” Fleischer explained.
NaturalNano, Inc stated that the current projects being worked on are creating a solid foundation for the company. Currently, the company is working with another Fortune 100 company on a 3-month project and is expecting pre-payment for samples with a Fortune 500 company. NaturalNano owns and and/or exclusively licenses more than 25 patents and applications.
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