Bosch and Nanalysis Announce Joint Product Development Collaboration
CALGARY, Oct. 28, 2019 /CNW/ - Nanalysis Scientific Corp. (the "Company" or "Nanalysis", TSXV:NSCI), is pleased to announce that as of October 23rd, it has entered into a collaboration agreement with Robert Bosch GmbH (Bosch) to jointly develop products for the growing market industrial Nuclear Magnetic Resonance (NMR) products for applications such as on-board fuel analyzers for cargo ships, driven by new international environmental standards against dirty fuels, which would be distributed by Bosch. The collaborative work will begin in November 2019 and joint development effort is expected to result in a marketable device by December 2021 and a sales agreement will be negotiated at that time.
Dr. Reiner Krapf of the Agile Innovations group at Bosch stated "I am very pleased to be working with Nanalysis Scientific. Bosch is a global leader in measuring device miniaturization for application-specific industrial use cases and smart analyzers. We anticipate that within the next seven years, NMR technology will be prevalent in industrial environments such as manufacturing facilities, mobile labs, shipping vessels, trucks, cars, and phones. We have short-, medium-, and long-term commercial objectives and we believe that working with Nanalysis is a win-win opportunity to take miniaturized application-specific products to market under the Bosch brand."
Sean Krakiwsky, founder and CEO of Nanalysis Scientific added, "Working with a global leader such as Bosch is a key step in the execution of our industrial applications growth strategy. We are driving the "appification" of NMR technology in Industry 4.0 environments using our leading permanent magnet based compact NMR technology, in addition to industrial optimization technologies such as AI and IoT. The Bosch partnership has the potential to dramatically expand our market opportunity. We are eager to work with Dr. Krapf's team and anticipate continued success for our products, enhanced reach through this partnership, and a greatly accelerated expansion of the global NMR market."
About Robert Bosch GmbH
Robert Bosch GmbH is a leading global supplier of technology and services. It employs roughly 410,000 associates worldwide (as of December 31, 2018). The company generated sales of €78.5 billion in 2018. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. Bosch's strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm: Bosch creates technology that is "Invented for life".
About Nanalysis Scientific Corp. (TSXV:NSCI, FRA:1N1)
Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI'. The Company's business is what we term "MRI for industry": it develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first fully featured portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens, and the company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. The Company recently announced that it will begin selling a 100MHz device in early 2020. The Company's new device will be the most powerful non-cryogen, permanent magnet NMR device ever brought to market.
Nanalysis devices are used by chemical professionals in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, and more) as well as numerous government and university research labs around the world. The company continues to exploit new global market opportunities independently and with partners.
Notice regarding Forward Looking Statements and Legal Disclaimer
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipate", "continue", "estimate", "expect", "may", "would" occur. These statements are only predictions of what we believe might happen. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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SOURCE Nanalysis Scientific Corp.
Sean Krakiwsky, CEO, Nanalysis Scientific Corp., T +1.587.436.1291
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