Cientifica: Uniquely Posi- tioned to Advise on Risk and Regulation

NANOTECHNOLOGIES: RISKS & REWARDS ! JUNE 2005 

Nanotechnologies: Risks & Rewards! WWW.CIENTIFICA.COM


Nanotechnologies: Risks & Rewards 

“Better assessment of 

nanotech risk is not just 

good common sense, it's 

a good business strat- 

egy." 

- DuPont Chief Executive 

Chad Holliday and Fred 

Krupp, President of Envi- 

ronmental Defense, Wall 

Street Journal 24th May 

2005 

"The nanotech environ- 

mental, health and safety 

debate is characterized 

by a chorus of voices, 

strongly held opinions 

and precious little hard 

data” 

- “A Prudent Approach 

<strong>to</strong> Nanotech Environ- 

mental, Health, and 

Safety Risks.” Lux Re- 

search. June 2005 

NEED MORE ? 

Científica offers cus<strong>to</strong>m stud- 

ies, market and industry 

analysis. 

Call +44 (0) 7832205015 for 

more information. 

BALANCING BENEFITS & UNDERSTANDING RISK 

Nanotechnologies: Risks & Rewards 

Nanotechnologies are attracting the attention of regula<strong>to</strong>rs 

and insurance companies alike. The unquantified risks relating 

<strong>to</strong> nanotechnologies are already leading <strong>to</strong> insurance 

premium hikes and pose the risk of unfavorable legislation 

affecting the business model of both producers and consumers 

of these materials. 

In order <strong>to</strong> understand the potential impact of future liabilities 

or changes in legislation, any business producing or making 

use of nanomaterials, and their inves<strong>to</strong>rs, needs <strong>to</strong> be able 

<strong>to</strong> answer these three questions: 

Are there intrinsic risks associated with any of 

my current or future products and over what 

timescale? 

What regulation is likely, and how will this apply 

<strong>to</strong> my products? 

How will the above affect my business model? 

<strong>Cientifica</strong> Ltd is the only advisory firm with over twenty years 

of experience in nanotechnologies, and is uniquely posi<strong>tioned</strong> 

<strong>to</strong> advise on all aspects of risk and liability. <strong>Cientifica</strong> 

has direct access <strong>to</strong> <strong>to</strong>p level government and policy makers 

around the globe and the worlds widest nanotechnology 

network, ranging from nanoscience <strong>to</strong> ethical, risk, legislative 

and <strong>to</strong>xicology experts. 

Who should read this report? 

!Any company using, or considering making use of nanomaterials 

!Producers of nanomaterials, from nanopowders and particles <strong>to</strong> 

fullerenes and nanotubes. 

!Companies using nanomaterials in consumer goods 

!Legal Firms advising on risk, liability and corporate finance 

!Inves<strong>to</strong>rs in nanotechnology companies 

!Governments and Regula<strong>to</strong>ry Bodies 

!Anyone needing the latest hard data about environmental health 

and safety issues and associated regulation. 



Nanotechnology: A Risky 

Business? 

Much has been made in recent years of the 

potential for nanotechnologies <strong>to</strong> solve almost 

every human condition, <strong>to</strong> provide 

solutions <strong>to</strong> almost every global problem, 

while also becoming a multi trillion dollar 

market. His<strong>to</strong>ry has shown that many technologies 

should be regarded as doubleedged 

swords, and in recent years the potential 

downside of nanotechnology has 

been attracting almost as much attention 

as the potential benefits. 

Of particular interest <strong>to</strong> industry are the 

twin issues of risk and regulation. Insurance 

companies, led in 2003 by Munich 

Re 1 , then followed by Swiss Re 2 (2004) 

and Allianz 3 (2005) have been taking closer 

looks at the risks associated with nanotechnologies, 

while governments, from the 

European Parliament <strong>to</strong> national bodies 

have been facing calls from Princes and 

pressure groups 4 <strong>to</strong> take a closer look at 

nanotechnologies. As a result, a large 

number of column inches have been dedicated 

<strong>to</strong> the risks of nanotechnologies, 

whether real or perceived. 

Perceived risks, such as those created 

through a belief in hyperbole or as a result 

of attempts by activists <strong>to</strong> link nano and 

biotechnologies, although without substance, 

can affect consumer behavior and 

hence impact business. Such risks how- 

ever are unlikely <strong>to</strong> result in either class 

action suits or legislation. Of more concern 

are the real risks, which are generated by 

the consequences of the interaction between 

the new classes of nanomaterials 

being produced and the human body or 

environment. 

These risks and their corresponding uncertainties 

are the subject of this report. 

The consequences of risk and regulation 

can be immense. The three waves of asbes<strong>to</strong>s 

claims so far have cost US insurers 

and re-insurers approximately $135 billion 

and estimates for the fourth are as high are 

as high as additional 200 <strong>to</strong> $275 billion 5 , 

while the European Commissions REACH 

proposals may cost European industry 

some 1.4-12,8 billion euros. 6 

Downstream liabilities are not limited <strong>to</strong> 

harmful effects of the materials used, but 

also in their disposal. Products from au<strong>to</strong>mobiles 

<strong>to</strong> refrigera<strong>to</strong>rs have been subjected 

<strong>to</strong> retrospective legislation covering 

their disposal, with the cost burden falling 

both on the consumers and producers. In 

extreme cases, such as that of the nuclear 

power industry, shifting the financial burden 

for decommissioning from government <strong>to</strong> 

the opera<strong>to</strong>rs has changed the entire economics 

of the industry in some parts of the 

world. 

As is all <strong>to</strong>o often the case with nanotechnologies, 

the breadth and complexity of the 

1 Nano-. technology – What’s ins<strong>to</strong>re for us? (available at www.munichre.com/publications) 

2 Nanotechnology: Small matter, many unknowns (available at www.swissre.com) 

3 Small sizes that matter: Opportunities and risks of Nanotechnologies (available at 

www.allianzgroup.com) 

4 See for example Size Matters! The Case for a Global Mora<strong>to</strong>rium – ETC Group (available at 

www.etcgroup.org) or “Future Technologies, Today's Choices” – Greenpeace (available at 

www.greenpeace.org.uk) 

5 Opportunities and Risks of Nanotechnologies, Allianz and OECD 2005 

6 International Chemical Secretariat www.chemsec.org/questions.htm 



field has baffled policy makers, actuaries, 

patent at<strong>to</strong>rneys and inves<strong>to</strong>rs leading <strong>to</strong> a 

highly confused situation. 

While policy makers may attempt <strong>to</strong> grapple 

with the whole of nanotechnology, most 

businesses are applying only a limited 

number of nanotechnologies <strong>to</strong> their products, 

allowing a sharper focus on both the 

risks and benefits. 

Press coverage by technology between May 2004 and May 2005. Source <strong>Cientifica</strong> Ltd 

S<strong>to</strong>ring Up Trouble? 

Companies around the globe are beginning 

<strong>to</strong> mass-produce nano-particles for use in 

everything from sunscreens <strong>to</strong> soil reclamation. 

An analysis of the global media in 

the year <strong>to</strong> May 2005 shows that almost 

half of all men<strong>tioned</strong> products are nanomaterials 

related. The production of anthropogenically 

7 derived nanoparticles will 

inevitably result in the introduction of these 

materials <strong>to</strong> the environment, whether de- 

7 i.e. man made rather than naturally occurring nanoparticles 

Unless policy makers adopt a similarly narrow 

focus, based on the applications rather 

than the technologies, then businesses applying 

unrelated nanomaterials run the risk 

of significant changes <strong>to</strong> their business 

models as a result of legislation. 

liberately, or through careless disposal of 

materials, industrial accidents, or simply as 

a result of abrasion and aging of the materials 

in which the nanomaterials are bound, 

whether an au<strong>to</strong>mobile tyre, food packaging 

or a textile fiber. 

Despite rapid advances in the production 

and characterization of nanotechnologies, 

current knowledge of the potential risks of 

nanoparticles <strong>to</strong> human health and the environment 

is limited. While many of the 



properties of nanomaterials, whether 

chemical or optical are highly size dependent, 

there is a concern that size also matters 

with respect <strong>to</strong> <strong>to</strong>xicity, irrespective of 

the chemical composition and that some 

materials that are biologically inert in bulk 

may tend <strong>to</strong> become harmful in ultrafine 

particle form. 

A further cause for concern is that observed 

<strong>to</strong>xicological responses in cell cultures 

and animals may also be dependent 

upon available surface area. Many of the 

proposed applications of nanomaterials, 

from carbon nanotubes <strong>to</strong> metal oxide 

nanoparticles, and from filtration <strong>to</strong> catalysis, 

take advantage of their high surface 

area. 

Finally, there are also indications that 

ultrafine particles can penetrate through 

the skin, or translocate from the respira<strong>to</strong>ry 

system <strong>to</strong> other organs. 

This is a rapidly evolving field of research 

with new, and often contradic<strong>to</strong>ry findings 

emerging on a weekly basis. The fact that 

fifteen years after the discovery of carbon 

nanotubes, scientists are still finding new 

properties of this class of materials indicates 

how little knowledge exists of the 

physical, let alone the <strong>to</strong>xicological properties. 

Risks versus Hazard 

A popular, and incorrect argument often 

heard is that if some nanomaterials are 

potentially harmful then a mora<strong>to</strong>rium 

should be declared on their production, often 

invoking the precautionary principle. 

However it must be remembered that hazards 

are an intrinsic property of a material, 

whereas risks can be managed and minimized. 

Important Distinctions 

Hazard - the potential <strong>to</strong> cause 

harm. 

Exposure – the concentration of 

a substance in the medium multiplied 

by the duration of contact. 

Dose – the amount of a substance 

that will reach a specific 

biological system. 

Risk – the likelihood of harm 

occurring. 

As an example, a glass tumbler filled with 

acid, a hazardous substance, and left unattended 

poses a severe risk, whereas if 

that same hazardous substance is put in a 

s<strong>to</strong>ppered bottle clearly marked !DANGER: 

ACID", and placed in a cupboard in a labora<strong>to</strong>ry 

where access is restricted <strong>to</strong> those 

who have undergone training in handling 

the acid then the risk is minimized, while 

the hazard remains. 

Once a hazard has been established, there 

are a number of strategies for minimizing 

risk as summarized in the text box below. 

Strategies for Minimizing Risk 

Prevent or reduce likelihood of 

exposure 

Enclose process 

Isolate individuals 

Dilute <strong>to</strong>xic substances 

Moni<strong>to</strong>r exposure concentrations 

Care with disposal 

The first major challenge in minimizing 

risks of nanomaterials is therefore in 

knowing what label <strong>to</strong> put on the bottle, i.e 

determining whether a hazard exists. If 

carbon nanotubes are shipped with materials 

handing instructions for activated char- 



coal, as has occurred in the past, then the 

risk of exposure is far higher than if they 

are clearly and appropriately labeled. Fortunately 

current industrial health and safety 

best practices dictate that all new materials 

are assumed harmful unless there is firm 

evidence <strong>to</strong> the contrary. While the reasons 

for this may be obvious in many cases, for 

example in the pharmaceutical industry, 

where the consequences can be potential 

fatal, this may not be the case in a university 

labora<strong>to</strong>ry where researchers are experimenting 

with the growth of fullerenes. 

It should be noted that in the production of 

many nanomaterials much of the effort 

goes not in<strong>to</strong> producing the materials but 

keeping them subsequently dispersed. 

Small particles are by nature highly reactive 

as almost all of the a<strong>to</strong>ms in the particle 

sit at the surface where they are available 

<strong>to</strong> take part in reactions, rather than 

being buried deep in the core, and therefore 

tend <strong>to</strong> clump <strong>to</strong>gether given the 

chance, reducing their effectiveness. On 

the other hand, the tendency of nanomaterials 

<strong>to</strong> agglomerate reduces somewhat the 

likelihood of an accidental release causing 

widespread contamination. 

However the recent UK Royal Society report 

8 was till sufficiently worried <strong>to</strong> recommend 

“that the use of free (that is, not fixed 

in a matrix) manufactured nanoparticles in 

environmental applications such as remediation 

be prohibited until appropriate research 

has been undertaken and it can be 

demonstrated that the potential benefits 

outweigh the potential risks.” 

Measuring Risk 

The first challenge in establishing the level 

of risk associated with a nanomaterial is in 

detecting the presence of the material. This 

is an area that has only recently begun <strong>to</strong> 

be addressed, and as a result of concerns 

over the health and environmental effects 

of nanoparticles, it has been established 

that major current sources are emissions 

from vehicles 9 , welding and smelting 10 

rather than companies producing nanomaterials. 

While many <strong>to</strong>ols exist for measuring particle 

concentrations, these suffer from two 

major drawbacks. 

Firstly many high throughput particle 

counting technologies such as those using 

dynamic light scattering simply give a 

mean particle size allowing the presence of 

high concentrations of small particles <strong>to</strong> be 

masked by lower numbers of much larger 

particles. While these techniques may be 

appropriate for moni<strong>to</strong>ring particles in controlled 

environments, the real world provides 

a more challenging dynamic mixture 

of particle types, varying in size both with 

location and time. The natural tendency of 

nanoparticles <strong>to</strong> agglomerate means that 

the size distribution of released particles 

shifts upwards with time, meaning that the 

risk from freshly produced materials may 

be several times higher than that from 

s<strong>to</strong>red materials. 

8 Nanoscience and nanotechnologies: opportunities and uncertainties (available at 

www.nanotec.org.uk/finalReport.htm) 

9 Exposure Assessment for Atmospheric Ultrafine Particles (UFP) and Implications in 

Epidemiological Research - Constantinos Sioutas, Ralph J. Delfino, and Manisha Singh, March 2005 

(available at dx.doi.org/) 

10 Nanoparticles: An occupational hygiene review – UK Health and Safety Executive, 2004 



Nanoparticle detection technologies: Price vs Performance. 

Courtesy Nanosight Ltd, UK 

A second group of particle detection technologies 

rely on capturing particles from 

the environment, on using either a filter or 

an adhesive surface, and physically imaging 

the particles and counting them individually 

using an electron microscope. 

While this gives a more accurate size distribution, 

the technique suffers from low 

throughput due <strong>to</strong> both the turnaround time 

associated with the introduction of samples 

in<strong>to</strong> the instrument, and the instrument size 

and complexity making in situ analysis unfeasible 

outside the microscopy lab. 

Solutions <strong>to</strong> the problem of detection are 

being developed, and range from !optical 

nanoscopy 11 " <strong>to</strong> video rate a<strong>to</strong>mic force microscopy 

12 . However not every technique 

will be appropriate <strong>to</strong> all situations (airborne 

particles, surface contamination, 

particles in suspension) and care must be 

taken in choosing the appropriate moni<strong>to</strong>r- 

11 See for example Nanosight (www.nanosight.co.uk) 

12 See for example Infinitesima (www.infinitesima.com) 

ing technologies. 

In the meantime it is not unreasonable <strong>to</strong> 

assume that exposure <strong>to</strong> potentially harmful 

nanomaterials has already occurred in 

both academic and production facilities. 

Many academic establishments and companies 

do not yet have adequate procedures 

for moni<strong>to</strong>ring exposure <strong>to</strong> nanomaterials. 

As a result of this uncertainty, one 

company specializing in refurbishing clean 

rooms has recently seen dramatic increases 

in its insurance premiums. 

Risks of the Regulation of 

Nanoparticles 

None of the discussion over the safety of 

nanomaterials has escaped the attention of 

those responsible for regulation. The European 

Commission has already held a number 

of workshops examining the need for 

regulation, and the European Parliament 

held a workshop in February 2004 titles 

"Precautionary Principle and Nanotechnology" 

13 concluding that "the Precautionary 

Principle of the European Union points out 

the scientific uncertainty is no reason for 

inaction if there might be immense adverse 

effects. If there is a decision <strong>to</strong> act there 

still remains a variety of potential actions. 

Ranging from a ban <strong>to</strong> further research 

projects as well as recommendations. 

Therewith, the question might be raised 

how <strong>to</strong> act concerning nanotechnologies." 

13 Report available at www.europarl.eu.int/s<strong>to</strong>a/ta/nanotechnology/nanotechnology.htm#regulation 



On the other hand the European Commission"s 

workshop “Research Needs on 

Nanoparticles” 14 concluded that “No uncontrollable 

nano-specific risks have 

emerged <strong>to</strong>-date, but extensive research 

should be carried out in a timely manner in 

order <strong>to</strong> accompany the technological development 

and production of nanoparticles 

with appropriate (eco)<strong>to</strong>xicological data 

and exposure so <strong>to</strong> pave the way -where 

the case- <strong>to</strong> specific new regulation.” 

Both these conclusions have been noted 

by both regula<strong>to</strong>rs and insurance companies, 

but the lack of even a commonly accepted 

definition of a nanoparticle is holding 

back progress. A recent publication 

from British Standards 15 goes some way <strong>to</strong> 

addressing this issue, but progress in international 

standards is always slow. 

The Precautionary principle 

"When an activity raises threats of 

harm <strong>to</strong> human health or the environment, 

precautionary measures 

should be taken even if some cause 

and effect relationships are not fully 

established scientifically. In this context 

the proponent of an activity, 

rather than the public, should bear 

the burden of proof. The process of 

applying the precautionary principle 

must be open, informed and democratic 

and must include potentially 

affected parties. It must also involve 

an examination of the full range of 

alternatives, including no action." 

- Wingspread Statement on the Precautionary 

Principle, Jan. 1998 

As a result, companies are currently exposed 

<strong>to</strong> both the risk of unfavorable leg- 

islation making major changes <strong>to</strong> their 

business models, and the risk of currently 

used materials being later shown <strong>to</strong> be 

more hazardous than previously thought. 

One Size Fits All 

14 Available at www.cordis.lu/nanotechnology/src/pe_workshop_reports.htm 

15 PAS 71:2005 Vocabulary - Nanoparticles (available at 

www.bsi-global.com/Manufacturing/Nano/index.xalter) 

A major risk <strong>to</strong> business is that of hasty or 

poorly thought out legislation. While regula<strong>to</strong>ry 

bodies from Europe <strong>to</strong> Japan are 

currently waiting for some conclusive results 

before acting, a single industrial accident 

involving nanoparticles could precipitate 

a knee-jerk reaction, covering not just 

the material in question, but perhaps the 

whole field of nanotechnology. 

The same will be true of public perception 

of nanotechnologies, requiring substantial 

changes of approach by any companies 

involved in the production or application of 

nanomaterials. As a first step in res<strong>to</strong>ring 

public confidence, companies will need <strong>to</strong> 

be clear about the risks associated with 

their products, and the steps they have 

taken <strong>to</strong> minimize these. The experience of 

GMOs in Europe illustrates clearly that if 

companies do not have immediate access 

<strong>to</strong> information about health, safety and environmental 

impact of technologies, the 

public, and regula<strong>to</strong>rs, will always take the 

most cautious approach and invoke the 

precautionary principle. 

Current thinking among regula<strong>to</strong>ry bodies 

falls in<strong>to</strong> three broad areas: 

Regulation of !nanotechnology" 

Regulation of applications of nanotechnologies 

No new regulation. 

While much was heard about general 

regulation in 2003 and 2004, it is now becoming 

more accepted by policy makers 

that attempting <strong>to</strong> regulate !nanotechnol- 



ogy" would be akin <strong>to</strong> regulating !chemistry" 

or !electronics." As a result, focus is shifting 

<strong>to</strong> regulation of the applications of nanotechnologies, 

and considering whether the 

existing regula<strong>to</strong>ry framework, for example 

for medical devices, takes in<strong>to</strong> account the 

novel properties brought about by the use 

of nanotechnologies. 

The current view, as reflected in the UKs 

Royal Society Report is that no new regula<strong>to</strong>ry 

bodies are needed, and that existing 

regula<strong>to</strong>ry frameworks should be reevaluated 

in the light of these new materials. 

A Long Term Problem? 

While much of the current debate focuses 

on the production of nanomaterials, longerterm 

issues also need <strong>to</strong> be considered. 

While many nanomaterials are currently 

being incorporated in<strong>to</strong> other materials, 

such as polymers and coatings, thus reducing 

the risk, the issue of product life cycle 

remains <strong>to</strong> be addressed. Regula<strong>to</strong>rs 

are already asking questions about what 

happens <strong>to</strong> nanomaterials when products 

in which they are used come <strong>to</strong> the end of 

their lifetimes. Many questions remain <strong>to</strong> 

be answered such as: 

What happens after the disposal of 

<strong>to</strong>iletries and cosmetics containing 

nanomaterials? 

What are the effects of dumping consumer 

goods containing nanomaterials 

in landfills or incinerating them? 

Are there risks associated with exposure 

<strong>to</strong> the combustion of products 

containing nanomaterials whether deliberate 

or accidental? 

While the disposal of large objects such as 

as household appliances and au<strong>to</strong>mobiles 

can, <strong>to</strong> a large extent, be controlled and 

moni<strong>to</strong>red, significant questions remain 

over the application of nanomaterials <strong>to</strong> 

high volume applications such as paper 

and packaging. The pollution caused by the 

uncontrolled release of plastics in<strong>to</strong> the environment 

(whether carrier bags in southern 

India or in<strong>to</strong> the marine environment 

where plastics make up 60 <strong>to</strong> 80% of <strong>to</strong>tal 

marine debris) illustrates the ease with 

which materials can become widely dispersed 

over large areas. 

Risk Management Solutions 

Currently, anyone producing or using 

nanomaterials is at the mercy of both insurers 

and regula<strong>to</strong>rs. Nobody wants <strong>to</strong> be 

on the receiving end of a class action suit 

in five, ten or twenty years time. With proposals 

on the table for full lifetime testing of 

nanomaterials, and current legislation impacting 

even the disposal of goods from 

au<strong>to</strong>mobiles <strong>to</strong> refrigera<strong>to</strong>rs with manufactures 

shouldering the burden, industry 

needs solid, reliable information about the 

direction legislation will take. A delegate 

from a major international au<strong>to</strong>motive 

manufacturer was shocked <strong>to</strong> hear at a 

recent conference that there may be health 

and safety considerations related <strong>to</strong> some 

of the materials already in use. 

The dilemma is that while <strong>to</strong>xicological 

studies can take up <strong>to</strong> ten years, corporations 

are under pressure <strong>to</strong> deliver shareholder 

value <strong>to</strong>day. The solution <strong>to</strong> this 

problem lies in the availability of high quality 

information, both on the possible health 

and environmental effects, as well as current 

thinking in Brussels, Washing<strong>to</strong>n DC 

and Tokyo. 

While no-one can predict the future, <strong>Cientifica</strong> 

is uniquely posi<strong>tioned</strong> <strong>to</strong> evaluate the 

likelihood of future liabilities and legislative 

changes. 



<strong>Cientifica</strong>: <strong>Uniquely</strong> <strong>Posi</strong><strong>tioned</strong> 

<strong>to</strong> <strong>Advise</strong> on Risk 

and Regulation 

<strong>Cientifica</strong> is the market leading business 

intelligence and consulting firm, providing 

global nanotechnology business intelligence 

and consulting services <strong>to</strong> industry, 

inves<strong>to</strong>rs and governments worldwide. 

With an established global presence in the 

lab, the boardroom and the corridors of 

power, <strong>Cientifica</strong> is in a unique position <strong>to</strong> 

provide expert advice and analysis on 

Toxicology: <strong>Cientifica</strong> is a major partner in 

the European Commission"s Impart and 

Nano<strong>to</strong>x projects 16 and is in <strong>to</strong>uch with 

<strong>to</strong>xicology programs from the US <strong>to</strong> Japan. 

Instrumentation: <strong>Cientifica</strong> works with the 

worlds largest scientific instrument manufacturers, 

and has over twenty years experience 

of nanometrology and analysis, from 

SIMS and XPS <strong>to</strong> electron and a<strong>to</strong>mic 

force microscopy. 

Standards: <strong>Cientifica</strong>, through the European 

NanoBusiness Association 17 , has 

been at the forefront of developing standards 

for the production and analysis of 

carbon nanotube. 

Regulation: <strong>Cientifica</strong> staff were at the 

heart of the recent UK government commissioned 

Royal Society and Royal Academy 

of Engineering, and have held regular 

meetings and sat on numerous expert 

committees with the European Parliament 

and Commission looking at regula<strong>to</strong>ry 

matters. <strong>Cientifica</strong> understands the issues, 

and knows the players. 

Impact: <strong>Cientifica</strong> is the worlds only company 

that understands the science, the 

economics and the implications of nanotechnologies. 

16 www.impart-nano<strong>to</strong>x.org 

17 www.nanoeurope.org 

A Rational Approach <strong>to</strong> Nanotech- 

nology and Business 

“We believe that talk of the trillion dollar Nanotechnology 

market, thousands of start ups and 

billions of dollars of VC funding is missing the 

point. Many of the claims made regarding the sec<strong>to</strong>r 

are characterized by unrealistic numbers and 

ill-informed scientific understanding. Yet it is true 

that nanotechnology will affect almost all business 

in some way. These facts combined make it more 

important than ever <strong>to</strong> understand the real impact 

of nanotechnologies on your organization. 

Almost every manufacturer we can think of is 

examining the impact these technologies will have 

on their bot<strong>to</strong>m line. Científica’s business is in 

working with them <strong>to</strong> put realistic figures, dates 

and error bars on these predictions. In a sec<strong>to</strong>r 

characterized by hype and inflated “statistics” it is 

vital that your investment, development and strat- 

egy is informed by numbers and insight you can 

trust. “ 

Tim Harper 

Founder & CEO Científica Ltd. 



Cus<strong>to</strong>m Solutions 

As the world's largest supplier of nanotechnology 

information, <strong>Cientifica</strong>"s activities 

span basic research, through the establishment 

and management of international 

scientific networks, consultancy, 

business intelligence and investment 

appraisals. 

Every year our global team of consultants 

and analysts supports the strategic objectives 

of a diverse worldwide client base. 

We are in constant contact with thousands 

of scientists, businesses and inves<strong>to</strong>rs active 

in the nanotechnology world, using this 

knowledge and insight <strong>to</strong> help our cus<strong>to</strong>mers 

plan and execute successful 

product and technology business development 

strategies. 

<strong>Cientifica</strong> offers a number of solutions for 

companies wanting <strong>to</strong> stay abreast of and 

navigate through risk and regula<strong>to</strong>ry matters. 

Cus<strong>to</strong>m Analysis 

Not all nanomaterials are the same, neither 

chemically or from a regula<strong>to</strong>ry perspective. 

<strong>Cientifica</strong> can provide expert advice 

on either a materials or applications basis 

covering 

Hazard potential – what does the 

academic world already know about 

this material and how does that relate 

<strong>to</strong> the risks of its use? 

Health and Safety – what precautions 

are similar industries taking <strong>to</strong> 

minimize risk, and how do they 

measure exposure? 

Legislative Risk – how is this material 

or application likely <strong>to</strong> be viewed 

by regula<strong>to</strong>rs, and how should 

regulations be approached? 

Regular nanoRisk Updates 

<strong>Cientifica</strong> continually moni<strong>to</strong>rs risk and 

<strong>to</strong>xicology assessments from around the 

world. In the fast moving and often contradic<strong>to</strong>ry 

world of nanotechnologies, <strong>Cientifica</strong> 

supplies the most up <strong>to</strong> date information, 

coupled with world class insight. 

Regular updates can be supplied organized 

by: 

Compound - from a single material 

<strong>to</strong> a group of materials (e.g 

Fullerenes), 

Applications (e.g Textiles or Catalysts) 

or 

Geographical scope (e.g Europe, 

USA). 

nanoRisk Management 

Seminars 

Particularly useful for large organizations, 

banks and legal practices, seminars are 

tailored <strong>to</strong> clients individual needs in order 

<strong>to</strong> raise internal awareness and address 

specific questions such as: 

What kinds or groups of materials 

could produce risks? 

What are the applications of these 

materials? 

What are the current trends in 

nano<strong>to</strong>xicology? 

How does this affect my business? 



About the Authors 

Tim Harper is one of the world"s foremost 

experts on commercialization of technologies, 

with experience gained in both venture 

capital and the labora<strong>to</strong>ry. 

As one of the world"s most in demand 

speakers, he has given over 100 invited 

talks and keynote lectures on nanotechnologies, 

ranging from scientific conferences 

<strong>to</strong> the boards of Fortune 500 companies, 

and ranging from economic implications 

<strong>to</strong> <strong>to</strong>xicology. He has also been 

published in journals ranging from !Nanotechnology" 

and 'Nature" <strong>to</strong> !Microscopy 

and Analysis," in addition <strong>to</strong> being extensively 

quoted in media ranging from the 

Financial Times and Economist <strong>to</strong> Time 

and Business Week. 

He is also a co-founder and direc<strong>to</strong>r of UK 

based optical nanoscopy company Nano- 

Sight, the Founder and Executive Direc<strong>to</strong>r 

of European NanoBusiness Association 

and is an advisor <strong>to</strong> many organizations 

around the globe including Oxford and 

Cambridge Universities, the European 

Commission, many of the world"s largest 

companies and national governments from 

Austria <strong>to</strong> Singapore. 

He is the co-author of the Nanotechnology 

Opportunity Report, described by NASA 

as "the defining report in the field of nanotechnology." 

In Oc<strong>to</strong>ber 2002 Time Magazine described 

Tim as "the face of European nanotechnology" 

and profiled him in TIME Magazine's 

Digital Europe Top 25, as one of Europe's 

<strong>to</strong>p 25 entrepreneurs. This was followed in 

November by recognition in Small Times 

Magazine who described Tim as "Europe"s 

pre-eminent nanotech spokesman outside 

of government." 

With a degree in Physics from Coventry 

University, Tim was formerly an engineer at 

the European Space Agency's research 

and development centre in Noordwijk, The 

Netherlands, where he managed the micro 

and nanoscale characterization facility, and 

published extensively on analytical techniques 

and characterization of advanced 

materials. 

Dr. Andrew Dunn joined <strong>Cientifica</strong> shortly 

after managing the joint Royal Society/ 

Royal Academy of Engineering study in<strong>to</strong> 

the benefits and risks of nanotechnology. 

The study was unusual in that it brought 

<strong>to</strong>gether scientists, social scientists, <strong>to</strong>xicologists, 

consumer group representatives 

and environmentalists <strong>to</strong> discuss an 

emerging field in which there are undoubted 

potential benefits, however many 

uncertainties exist surrounding potential 

health, safety and environmental concerns. 

His scientific background covers semiconduc<strong>to</strong>r 

and surface physics, and molecular 

manipulation. He holds a Ph.D. in experimental 

physics from Nottingham University, 

and has conducted postdoc<strong>to</strong>ral research 

in<strong>to</strong> molecular scale electronics at Delft 

University (NL) in the group of Professor 

Cees Dekker. He has over 20 publications 

in academic journals, spoken at numerous 

international conferences and had his thesis 

work exhibited at The Science Museum, 

London. 

He is also a former Associate at the Dresdner 

Kleinwort Wasserstein technology team 

in London, where he covered the pan- 

European telecom hardware sec<strong>to</strong>r. 

His 10-year background encompasses 

many aspects of nanotechnology, from 

technical hands-on experience of a<strong>to</strong>micscale 

fabrication techniques, <strong>to</strong> market 

analysis and much wider issues surrounding 

societal and regula<strong>to</strong>ry impacts. 



OUR CUSTOMERS 

<strong>Cientifica</strong>'s clients range from large multinationals, 

Fortune 500 companies <strong>to</strong> investment banks and 

start ups on three continents. 

Typical Case Studies 

A global oil company was evaluating getting in<strong>to</strong> 

the nanomaterials business. <strong>Cientifica</strong> provided 

new insights in<strong>to</strong> the development of the markets, 

competitive landscape and materials pricing. 

As a result the company cancelled plans for a 

new internal venture and formed strategic alliances 

allowing it <strong>to</strong> minimize risk while keeping 

an option on promising technologies. 

The board of a major industrial controls company 

wanted <strong>to</strong> develop a nanotechnology strategy. 

<strong>Cientifica</strong> matched their areas of expertise 

with the appropriate nanotechnologies that 

would allow the company <strong>to</strong> open new markets 

while improving margins in existing ones. As a 

result of a board level presentation by <strong>Cientifica</strong> 

the company has identified enterprise wide 

themes for the use of nanotechnologies, as well 

as embarking on a number of development projects 

<strong>to</strong> improve current products. 

An inward investment agency wanted <strong>to</strong> understand 

the opportunities and threats posed <strong>to</strong> its 

industrial base by nanotechnologies. <strong>Cientifica</strong> 

provided a thorough analysis of the landscape and 

identified areas of economic opportunity which 

are now being pursued at a governmental level. 

" 

A global supplier of scientific equipment wanted 

<strong>to</strong> understand how nanotechnology would affect 

its markets for existing products, and also <strong>to</strong> develop 

the products required by both the academic 

and industrial nanotechnology community. 

<strong>Cientifica</strong> analyzed current equipment trends and 

markets, and provides quarterly market forecasts 

tailored <strong>to</strong> the clients internal procedures. 

! 

! 

Consulting, Cus<strong>to</strong>m Analysis and Strategy 

<strong>Cientifica</strong>'s global view and unique <strong>to</strong>olkit allows clients 

<strong>to</strong>: 

Nanoscience 

Connect technologies with markets 

Moni<strong>to</strong>r competing technologies and compnies 

Develop technolology and business strategies 

Quantify markets, trends, opportunities and threats 

Speed decision making 

The scientific background of <strong>Cientifica</strong> staff and long in- 

volvement in nanotechnology has led <strong>to</strong> strong relation- 

ships with researchers around the world. 

Nanotechnology 

In-depth understanding of science and technologies, cou- 

pled with market and applications insight has led Cienti- 

fica <strong>to</strong> be the global leader in nanotechnology consulting. 

Finance /Investment. 

<strong>Cientifica</strong> works with many of the worlds leading private 

equity companies, corporate VC divisions and angel in- 

ves<strong>to</strong>rs assisting them in the identifications and valuation 

of nanotechnology related opportunities. 

Product Development 

<strong>Cientifica</strong> staff has direct experience in product develop- 

ment spanning pharmaceuticals, aerospace, materials 

and electronics gained at the European Space Agency, 

Johnson and Johnson, Sun Microsystems and NEC. 

Networking 

<strong>Cientifica</strong> network spans the globe, from government, 

through academics, inves<strong>to</strong>rs <strong>to</strong> multinational corpora- 

tions. 

Government 

<strong>Cientifica</strong> is closely connected with government- 

supported nanotechnology programs throughout the EU, 

the US, Canada, Japan, Taiwan, Hong Kong, South Ko- 

rea, Malaysia, Singapore, Venezuela and South Africa. 

Environmental and Regula<strong>to</strong>ry Issues 

Through activities with the European Nanobusiness As- 

sociation, the European Commission and through an ex- 

cellent relationship with environmental groups, <strong>Cientifica</strong> 

has unrivaled expertise in the likely environmental and 

legislative issues related <strong>to</strong> all aspects of nanotechnology. 



Over Twenty Years of 

Nanotechnology Experience 

Científica is a world leader in providing 

consulting, as well as technical, scientific 

and industrial information on emerging 

technologies, with a specialization in 

nanotechnologies. 

Thanks <strong>to</strong> its ability <strong>to</strong> combine a profound 

knowledge of science and business with an 

advanced data management system, 

Científica provides companies, governmental 

institutions and venture capitalists 

all over the world with accurate and critical 

business information. 

For further information please contact 

us: 

Científica - UK 

Russell Wilcox 

E-mail: russell.wilcox@cientifica.com 

Telephone +44 (0) 7832 205 015 

Científica - Norway 

Terje Berg 

E-mail: terje.berg@cientifica.com 

Tel. +47 920 88345 

Científica - Singapore 

Derrick Tan 

E-mail: derrick.tan@cientifica.com 

Telephone +65 900 87 808 

Científica - India (Yash Nanotech) 

Anurag Gupta 

E-mail: anurag@yashnanotech.com 

Telephone +91 022 560 10791 

Científica - Spain 

Elena Robles 

E-mail: elena.robles@cientifica.com 

Tel. +34 91 640 7440 

Fax +34 91 640 7186 

PRODUCT INFORMATION 

For inquiries regarding Científica’s 

activities, conferences, publications 

or on how Científica’s unequalled 

knowledge of the sec<strong>to</strong>r can help 

your business contact: 

RUSSELL WILCOX 

E-mail: russell.wilcox@cientifica.com 

Tel. +44 (0) 7832205015 

Científica Ltd., London - UK 

www.cientifica.com 

Científica has representatives in: 

London - UK 

Madrid - SPAIN 

Oslo - NORWAY 

Mumbai - INDIA 

Singapore - SINGAPORE 

NEED MORE ? 

Científica offers cus<strong>to</strong>m studies, market and 

industry analysis. 

Call +44 (0) 7832205015 for more informa- 

Nanotechnologies: Risks & Rewards! WWW.CIENTIFICA.COM 

tion.

Cientifica: Uniquely Posi- tioned to Advise on Risk and Regulation

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