Industrial Nanotech Enters Agricultural Market with Solution to Multibillion Dollar Crop Crisis
October 14 2008 - 8:01AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology, announced today that the Company has
launched a new patented product for the agricultural market which
has been proven to provide a solution to the growing crisis that
threatens 15 billion dollars worth of crops in the US and billions
more worldwide. Failure to halt this decline has the potential to
decimate agriculture and triple food prices. Potential revenue to
Industrial Nanotech for this product is over 2.5 billion dollars
US. �As reported in testimony to the US House of Representatives
about this crisis on 3/29/2007, in the United States alone there
are nearly 100 critical crop species, or one third of all
agriculture, that rely on annual pollination to produce a harvest,�
states Stuart Burchill, CEO/CTO of Industrial Nanotech. �No
pollination, no food. The primary pollinators worldwide are
commercially maintained honeybees. The problem is that bee colonies
are dying and have been decimated by 30 - 40 % since 2006 by what
is called �colony collapse disorder�, threatening the crops both in
the United States and around the world. Prior to our product, the
problem had remained unsolved.� Mr. Burchill continues, �Directly
affected crops include soybeans, almonds, peaches, apples, pears,
cherries, raspberries, blackberries, cranberries, watermelons,
cantaloupes, cucumbers, strawberries and many other fruits,
vegetables, and nuts. Additionally, both the beef and dairy
industries are affected because honeybees also pollinate the
clover, hay, and other forage crops necessary to feed cattle. There
are over 3 million commercial bee hives in the US, almost 9 million
in Europe, and the total worldwide number of commercial beehives is
over 55 million.� The new product, Nansulate Bee Protect, is a
protective coating specifically for beehives which has proven
effective at halting this problem of bee loss in eight months of
field trials conducted in Tennessee, Hawaii, and Alabama and will
now be marketed globally. The product was field tested by Beehive
Hawaii, LLC. �We have been working with Beehive Hawaii since the
spring of this year regarding a coating that would help protect
bees in their hives,� explained Francesca Crolley, V.P. of
Operations & Marketing for Industrial Nanotech, Inc. �Field
trials with their own hives in multiple locations has indicated
that our product has provided a successful solution for the colony
collapse disorder which has been a crucial issue in the bee
industry worldwide. Their successful results and commitment to
helping us understand this important industry were instrumental in
our decision to launch this new product, which is called Bee
Protect. The product is available directly from Industrial Nanotech
at www.nansulate.com/protectbees.htm, or through Beehive Hawaii,
who will serve as our exclusive distributor and representative to
the industry.� �For our bees, change had to begin at home,� said
Antonie Botes, President of Beehive Hawaii. �You can relocate to an
ecofriendly environment, change their nutritional resources and
manage them the best way possible, but at the end of the day you
have to improve their hives.� He stated that the screen bottom
board was the only real change in the Beekeeping Industry since
Langstroth introduced his hive in 1851. Mr. Botes continued, �It is
time for a revolution in the industry. That is why we are so
excited about the results we are having with Bee Protect.� Beehive
Hawaii is working with world renowned researchers in the bee
industry, technically known as apiculture, to study the results of
Bee Protect. Scientific Beekeeping, Pennsylvania State University,
and Bee Research Technology are some of the parties involved in the
research. �We at Beehive Hawaii want to express our gratitude for
the Industrial Nanotech team and their work on this project. We
believe it is making a significant difference,� said Renette Botes,
vice president of Beehive Hawaii. About Beehive Hawaii, LLC Beehive
Hawaii, LLC was founded with the sole purpose of replacing the
declining population of the world�s honey bees. They run disease
free apiaries in secluded environmental breeding grounds and
produce and ship complete hive colonies. All beehives now shipped
by Beehive Hawaii, Inc. are pre-coated with Nansulate Bee Protect.
For more information visit www.BeehiveHawaii.com. About
Nansulate(R) Nansulate(R) is the Company's patented product line of
specialty coatings containing a nanotechnology based material and
which are well-documented to provide the combined performance
qualities of thermal insulation, corrosion prevention, resistance
to mold growth, and lead encapsulation in an environmentally safe,
water-based, coating formulation. The Nansulate(R) Product Line
includes both industrial and residential coatings. About Industrial
Nanotech Inc. Industrial Nanotech Inc. is quickly emerging as a
global nanoscience solutions and research leader. The Company
develops and commercializes new and innovative applications for
nanotechnology. Additional information about the Company and its
products can be found at their websites,
(http://www.industrial-nanotech.com) and
(http://www.nansulate.com). Safe Harbor Statement Safe Harbor
Statement under the Private Securities Litigation Reform Act of
1995: This release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties
including, but not limited to, the impact of competitive products,
the ability to meet customer demand, the ability to manage growth,
acquisitions of technology, equipment, or human resources, the
effect of economic and business conditions, and the ability to
attract and retain skilled personnel. The Company is not obligated
to revise or update any forward-looking statements in order to
reflect events or circumstances that may arise after the date of
this release.
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