ONSCREEN SIGNS LETTER OF INTENT WITH THERMALTAKE TECHNOLOGIES TO JOINTLY DEVELOP THERMAL SOLUTIONS UTILIZING WAYCOOL™
PORTLAND, OR – September 26, 2006 – OnScreen Technologies™, Inc. (OTCBB:ONSC), the global leader in developing cutting edge thermal management technologies for integrated circuits and LED signage, today announced that it has signed a Letter of Intent with Thermaltake Technologies Co., Ltd, the world’s leader in the supply of thermal management cooling solutions, high-end power supply and chassis for desktop and industrial application systems. The Companies have agreed to collaborate on developing thermal solutions for high-end gaming technologies utilizing WayCool™, OnScreen’s proprietary, thermal cooling technology that efficiently transfers heat at extraordinarily high rates to promote superior thermal management.
Joseph Lin, Thermaltake’s Director of Global Strategic Marketing, stated, “OnScreen’s WayCool technology shows distinct promise for effectively and efficiently addressing material cooling challenges encountered in the operation of high-end gaming devices. We are very excited about this collaboration and look forward to advancing our joint development efforts.”
In accordance with the terms set forth in the Letter of Intent, within three weeks OnScreen will deliver a prototype device using WayCool that successfully meets mutually agreed upon testing criteria, including the methodology, the architectural requirements for the prototype device, the material requirements for the prototype device and the full description of the proposed testing facilities. Following successful testing, the Companies have agreed to formalize a definitive licensing and royalty agreement providing for delivery of minimum monthly volume commitments to be disclosed at a later date. Thermaltake desires to manufacture, market, deliver and sell WayCool integrated into high-end graphics boards produced by an identified Original Equipment Manufacturer (OEM) and implemented by others.
“This initial agreement with Thermaltake marks a profoundly important milestone for our Company and represents the first critical step in the commercialization and global market adoption of our WayCool technology. Aside from the potentially significant revenue opportunity this presents, we are elated and very proud that we succeeded in securing one of the industry’s noted leaders as our very first strategic partner,” noted William Clough, Executive Vice President of Corporate Development at OnScreen.
About Thermaltake Technologies Co., Ltd. - Thermaltake, based in Taipei, Taiwan, is the global leader in Thermal Solution and Thermal Management for the PC and industrial markets. Its engineering staff is noted for its expertise in Airflow Analysis, Material Conductivity and Heat Dissipation Efficiency. Thermaltake offers a wide range of products and services, providing effective and cost-conscious cooling devices. The Company has more than 1000 employees worldwide, supporting customers from its headquarters in Taipei, Taiwan, as well as offices in China, Europe and North America.
About OnScreen Technologies, Inc. - Headquartered in Portland, Oregon, OnScreen Technologies, Inc. has pioneered and is commercializing innovative thermal management solutions capable of revolutionizing the LED display, semiconductor and electronic packaging industries. Utilizing its patent-pending thermal technologies and architecture, OnScreen has developed highly advanced, proprietary LED display solutions and cooling applications that provide increased performance and are less expensive to install and support than competing products and technologies. For more information, please visit onscreentech.com.
Safe Harbor Statement - This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
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