Woburn, Mass. - Magnolia Optical Technologies, Inc. announced today that it has received a contract for additional funding to develop ZnO nanostructures for a variety of optical and electronic applications. The contract award was made by the US Army in Huntsville, AL under DARPA´s Small Business Innovation Research program. This additional award is for $500,000, bringing the total contact award to date to $1.25 million for the development of this technology.

"Under this contract, Magnolia is developing ZnO nanowire based devices that can be used in Military Systems for threat detection, sniper detection, and other commercial applications. . This technology adds to the core capability of Magnolia in the detection of UV part of the spectrum.

Magnolia has been working with DARPA and the Army on this development effort. Dr. Ashok K. Sood, President and CEO of Magnolia stated that "we are pleased to receive the development Program and look forward to working with DARPA and the US Army sponsors. This award is important to Magnolia for developing this innovative technology for defense and commercial applications"

About Magnolia Optical Technologies, Inc.

Magnolia specializes in developing innovative optical technologies for defense and commercial applications. Based in Woburn, MA, Magnolia has expertise in thin film and nanostructure based technologies that cover the ultraviolet, visible, and infrared part of the spectrum. These technologies are exploited for use in advanced military sensors and other commercial applications including solar cells.

Contact:

Magnolia Optical Technologies, Inc. Dr. Yash R. Puri, 781-503-1200 x101 Executive Vice-President yrpuri@magnoliaoptical.com

Media Contact