World Economic Forum Selects Advanced Diamond Technologies as a 2007 Technology Pioneer
ROMEOVILLE, Ill.--(BUSINESS WIRE)--Advanced Diamond Technologies, Inc. (ADT), the world leader in developing and applying diamond thin-films for industrial, electronic, mechanical and medical applications, announces its selection as a 2007 Technology Pioneer by the World Economic Forum.
“This award reaffirms our belief in a bright future for ADT, as 95 percent of previous Technology Pioneers have successfully established themselves in the marketplace, some even becoming household names.”
Judges used six criteria in selecting the winners: innovation, potential impact, growth and sustainability, proof of concept, leadership, and status. ADT is the first diamond company to meet these demanding criteria for selection as a Technology Pioneer. Neil Kane, ADT’s president, will attend the Forum’s Annual Meeting held in Davos, Switzerland, January 24-28, 2007.
“We are honored to be considered among the ranks of the world’s technology and innovation leaders. The opportunity to be on the global stage at Davos and interact with preeminent political and business leaders is thrilling,” said Kane. “This award reaffirms our belief in a bright future for ADT, as 95 percent of previous Technology Pioneers have successfully established themselves in the marketplace, some even becoming household names.”
Applications of ADT’s ultrananocrystalline diamond (known as UNCD™) include energy, biotechnology and information technology. UNCD is already being applied in a variety of industries and changing the way we work, live and communicate. ADT produces diamond-enhanced mechanical seals for pumps that dramatically improve wear characteristics and save energy by reducing friction. “The U.S. Department of Energy estimates this application, when widely deployed, would save trillions of BTUs of energy annually,” said Kane.
Other UNCD applications include diamond-based microelectronic devices called micro-electromechanical systems or MEMS. For example, UNCD-based high power, wireless, broadband communication chips would be much smaller in size and consume 100 times less power than current standards. ADT is also developing biocompatible coatings for implantable medical devices such as artificial retinas which help restore sight to people suffering from age-related macular degeneration. “The practical applications of diamond are limitless,” said Kane. “Our innovations overcome the traditional impediments to using diamond technology, making these applications possible.”
“The competition to become a Technology Pioneer has been more intense than ever. It is evident that technology and innovation is playing a key role in the shifting power equation at a global level,” said Peter Torreele, managing director of the World Economic Forum.
About Advanced Diamond Technologies
Formed in December 2003 to commercialize the UNCD technology developed at Argonne National Laboratory (Argonne), ADT is the exclusive licensee to the Argonne portfolio of application and process patents for synthesizing and using UNCD films. In 2006, ADT received Frost & Sullivan’s Product Innovation of the Year award for diamond films and Nanotech Briefs’ Nano 50™ Award, as well as being a runner-up in the Wall Street Journal’s Technology Innovation Award.
For more information on ADT visit www.thindiamond.com.
About the World Economic Forum
The World Economic Forum, based in Geneva, Switzerland, is an independent organization committed to improving the state of the world. Funded by the contributions of 1,000 of the world's foremost corporations, the WEF acts in the spirit of entrepreneurship in the global public interest to further economic growth and social progress. Incorporated in 1971, the World Economic Forum is impartial and not-for-profit, and is not tied to political, partisan, or national interests.
For the list of Technology Pioneers 2007 and interviews with their CEOs visit www.weforum.org/techpioneers/2007.