GEMZ Corp. Expects to License Exclusive Development Rights for a Nanotechnology Using Thermal Acoustic Method for Production of C60.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- GEMZ Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :GMZP) today announced that it expects to acquire exclusive development rights for a technique and apparatus for production of C60, also known as Buckminster Fullerene fullerene, any of a class of carbon molecules in which the carbon atoms are arranged into 12 pentagonal faces and 2 or more hexagonal faces to form a hollow sphere, cylinder, or similar figure. , Carbon 60 or bucky balls for the efficient storage of hydrogen in carbon nanotubes See nanotube. . The technology that GEMZ Corp. is negotiating to acquire is a method and apparatus that uses a thermal acoustic process to efficiently produce Carbon 60, which is known to be an efficient method of storing hydrogen, and is approximately as efficient as fossil fuels fossil fuel: see energy, sources of; fuel. fossil fuel Any of a class of materials of biologic origin occurring within the Earth's crust that can be used as a source of energy. Fossil fuels include coal, petroleum, and natural gas. . The technique, if successfully commercialized, would allow for development of batteries and/or fuel cells at a manufacturing cost of pennies per gram. While the technology is still conceptual, and its development is still uncertain and fraught with risk, if successful, the technology could store hydrogen in C60 at a cost two orders of magnitude lower than current technology permits. Bucky balls, also known as Buckminster Fullerenes, after the architect Buckminster Fuller, are the roundest and most symmetrical large molecule known to man and are the largest symmetrical molecules known in the nanoscience world. A bucky ball is chemically stable and is an allotrope allotrope Any of two or more forms of the same chemical element. They may have different arrangements of atoms in crystals of the solid—for example, graphite and diamond for carbon—or different numbers of atoms in their molecules—for example, ordinary of carbon. C60 is the third major form of pure carbon; graphite and diamond are the other two. Graphite and diamonds have greatly improved technology in many fields, with their properties, such as their strength and hardness. The C60 molecule has the special property of being able to absorb large numbers of hydrogen atoms--almost one hydrogen atom for each carbon atom Noun 1. carbon atom - an atom of carbon atom - (physics and chemistry) the smallest component of an element having the chemical properties of the element --without disrupting the bucky ball structure. This property suggests that C60 may be a better storage medium for hydrogen than metal hydrides, the best current material, and hence possibly a key factor in the development of new batteries and even of non-polluting automobiles based on fuel cells as a replacement for gasoline. GEMZ Corp., through its subsidiary International Nanotechnology Corporation, anticipates acquiring an exclusive license to a patent-pending technology that uses a thermal acoustic technique which is potentially much more efficient than the four methods currently used for producing C60, all of which consume too much energy in the manufacturing process for them to be cost effective. GEMZ Corp. hopes to raise the funds necessary to develop a practical proof of concept of this new technology. About GEMZ Corp. GEMZ Corp. is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Its new corporate website is www.gemzcorp.net. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," "promise," "negotiating to" "hopes to" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Other risks are reflected in GEMZ Corp.'s filings with the Securities and Exchange Commission. |
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