Supply agreement may boost Advanced Nano revenue

Welshpool-based Advanced Nanotechnology Ltd anticipates increased revenue in the 2006-07 financial year after a supply agreement for its diesel fuel combustion improver Envirox was signed yesterday.

ANL manufactures and supplies Envirox exclusively to Oxford University nanotechnology spinoff Oxonica plc, which has signed a supply agreement expected to generate approximately $16.6 million in sales with Petrol Ofisi AS, a Turkish oil company.

ANL announced it had received purchase orders to the value of around $850,000 for the remainder of the calendar year to support Petrol Ofisi's market evaluation. Both ANL and Oxiana are currently in negotiations for the future supply of the product.

ANL recently booked an unaudited sales result of $1.5 million from its range of nano-material products and is making a name for itself in Asia on the back of its fuel dispersion technology.