AMR Technologies have developed a novel form of nanosized cerium oxide material which has significant implications for uses in major global consumer products. They estimate that they can earn US$25 million per year for every 1% of market share they gain.
AMR have been working on the material for the last 5 years. The project has been carried out on behalf of an unnamed party who currently holds a major market share as well as an extensive portfolio of patents and patent applications for the above-mentioned consumer product.
Subsequently AMR Technologies and the other party have entered into a 10 year exclusive agreement to supply the nanosized cerium oxide and related products for the production of the consumer product.
For more information on cerium oxide, click here.