Jan. 4, 2005 — Nano-Proprietary Inc. (OTC: NNPP), an Austin, Texas-based holding company, announced through its subsidiary, Applied Nanotech Inc. (ANI), that it has entered into a research and development agreement with KRI Inc. KRI is the R&D subsidiary of Osaka Gas Co. Ltd., a gas utility company in Japan.
The agreement is to develop a hydrogen sensor for automotive fuel cell applications. The collaboration is the result of a joint proposal submitted by KRI and ANI to Japan’s New Energy Industrial Technology Development Organization. The proposal was one of eleven grants awarded in the area of hydrogen energy by the development organization. The project is expected to take about one year.