Right now, supporters of the technology are overwhelmed with its potential. They say that the E coli bacteria can take on oil spills and the nanobiopolymer car door can use embedded proteins to repair itself after a collision. And there is no shortage funds for such research. Since 1999 about 52 per cent of the us $900 million venture capital funding for nanotechnology has gone to nanobiotechnology startups. Today there are several projects to develop newly made nanobio organisms. For instance, Craig Venter -- known for his work on the Human Genome project -- and his Institute for Biological Energy Alternatives in Rockville, Madison, usa have been awarded us $12 million by the us Department of Energy to create new life forms engineered to produce energy or clean up greenhouse gases.
Other biotechnologists are building new life from stripped-down microbes, nanotechnologists are building biological machines from the bottom-up. The implications are breathtaking: not just new species and new biodiversity, but life forms that are human-directed and self-replicating. Consider this: scientists at the Nanometer Consortium at Lund University in Sweden, on the other hand, have produced tiny forests of nano trees. These "trees", though inanimate, can be "taught" to replicate plant photosynthesis and extract energy from sunlight, says Knut Deppart, a Lund University professor involved in the study.
Among other examples, us researcher Robert Freitas is developing an artificial red blood cell that can deliver 236 times more oxygen to tissues with natural blood cells. The artificial cells, called a "respirocyte", measures one micron (1000 nm) and has a nanocomputer on board, which can be reprogrammed remotely via external acoustic signals. Freitas hopes his device can treat anaemia and lung disorders, but also will enhance performance in physically demanding areas such as sport and war.
According to projections of the us National Science Foundation, the world market for nanotechnologies (nanobiotechnology being the prominent one) is going to be us $ one trillion by 2011-2015. Given the sheer magnitude, scientists and critics alike feel that there should be regulatory frameworks at national and international levels to control the run-away growth leading to potential threats -- though they disagree on the degree of regulation. The uk's scientific bodies recommend extensive health and safety studies of these novel technologies. They have asked all regulatory bodies in the country (in fields such as health, environment and industry) to debate if the current level of regulation and expertise is adequate to protect humans and the environment from the hazards of nanomaterials, including nanobiotech products.
The etc group, which in mid-2002 called for a moratorium on use of synthetic nanoparticles in the lab and in any commercial products until governments adopt a "best practices" for research, on the other hand, says current regulations are at least a decade behind. "Nanotech products are already available commercially and laboratory workers and consumers are exposed to nanoparticles," says the group's executive director Pat Mooney.
Ony a few companies in a handful of countries control nanotechnology today. So, an even greater worry is that unregulated scientific quest for finding newer commercial applications might result in these companies and countries ignoring all accepted safety norms.