A paper published on Nanotechnology by German scientists caused quite an uproar earlier this weeks, but the research agency responsible for releasing the report says these fears are unfounded.

From the Spiegel article:

Nanotechnology, which is widely considered one of the most exciting technologies of the 21st century and, according to experts, will be worth trillions of euros globally by the year 2020, utilizes materials at an atomic or molecular level -- nano literally means "extremely small" in Greek. Such materials now have many commercial and scientific applications -- from providing extra UV protection and skin care in sun cream and cosmetics to helping clean graffiti off walls more efficiently to significantly advancing industry, health care and the military.

In fact, there are already countless products on the market that feature nano-technological innovations. They can be found in everything from sunscreen to ketchups and powdered sugar. They have also been used in enviromentally-friendly products such as a thermal-insulating paint.

Germany is one of the European leaders in this area. A report by Nanoforum, an online gateway for nanotechnology news funded by the European Community, reports that the German government support for the technology is strong and that, "between 1998 and 2004, the volume of projects funded in Germany quadrupled to around €120 million."

"We do not know how many products there are on the market that contain nano-particles," Wolfgang Dubbert a spokesperson for the UBA told German press agency DPA on Wednesday. And consumers can't really avoid them either. Apart from sunscreen, "the products on the shelves are not labeled" as containing nano-particles.

Still, Dubbert said he felt the discussion sparked after the update was heading in the wrong direction. "You can't just talk about the risks -- you also have to look at the opportunities," the researcher said. UBA estimates that 800 German companies are currently active in the field of nanotechnology. The new government currently being formed between Chancellor Angela Merkel's conservatives and the business-friendly Free Democrats are considering making their support for the nascent industry a priority for the next administration.

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Read the full article here.