This order is a direct result of collaboration and technical success from the previously announced June 2008 joint development agreement.
‘Establishing a commercial product with Fiabila in the personal products industry is a tremendous boost for our company allowing us to leverage the strengths of our naturally occurring, environmentally friendly HNT technology,’ stated James Wemett, chief executive officer of NaturalNano. ‘This New agreement, which includes granting Fiabila a world-wide exclusive license to our processes for nail polish and nail-care products, serves as further validation of both our technology and of our business model. It represents a long-term, sustained revenue opportunity using our patented technology for controlled release from our HNT giving their products durability and overall performance.’
Wemett added: ‘One of our 2009 goals is to move our joint development partners into licensing deals and commercial orders. Our company has over 25 patents issued and pending. With Fiabila as our newest strategic commercial partner, we expect to see significant and widespread adoption, acting on our commitment to develop the next generation of HNT-enhanced consumer products.’
In this agreement, NaturalNano will supply both filled and unfilled HNTs for the incorporation in Fiabila’s nail products. The company’s new technology allows the filling of the eco-friendly tubes with various additives that can be released slowly over time, improving the performance and extending effectiveness of various consumer-oriented products.
Pierre Miasnik, president of Fiabila stated, ‘NaturalNano’s technology will enable us to continue our commitment of using natural ingredients in our products. With NaturalNano’s know how and our product experience, we look forward to a long standing relationship.’
Fiabila is a France-based manufacturers of nail enamels.
