Industrial Nanotech, Inc. Begins Receiving Orders Relating to Mexican Building Standard Approval for their Patented Nansulate...
September 20 2010 - 8:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanoscience energy saving solutions, announced today that
the expected orders from Mexico have now started coming in after
delays caused by financing documentation required by the Mexican
banking system. The Company reported in an earlier release the
award of NOM certification of their patented Nansulate® thermal
insulation and mold prevention coating and acceptance as part of
the Green Mortgage program by INFONAVIT, Mexico's state owned and
largest mortgage provider.
The NOM 018 ENER 1997, for which Nansulate® is now certified, is
the Mexico Thermal Insulation Standard and is mandatory for all new
construction.
“After initial documentation delays, we are now seeing the first
orders come in related to the coating’s recent recognition by
Mexico’s Federal Electric Company (CFE) and INFONAVIT,“ stated
Francesca Crolley, V.P. of Business Development for Industrial
Nanotech, Inc. “Additionally, as anticipated by our Mexican
distributor, Distribuidora Nano de America, orders are also coming
in from corporate and manufacturing customers looking for a cost
effective product to reduce building heating and cooling costs and
manufacturing process costs due to the certification of Nansulate®
as an effective insulation product by Mexico’s testing authority
ONNCCE, the nationally recognized Mexican Standards Organization.
We expect market share in Mexico to continue to grow rapidly as
this innovative technology is recognized for the energy saving and
protective benefits that it provides, as well as the longevity of
consistent thermal performance. We look forward to reducing energy
costs on a national scale for Mexico, and many other
countries.”
The company was informed in June that INFONAVIT has included
Nansulate® into the specification for worker’s homes under their
Green Mortgage program to increase energy efficiency. They have
projected that Nansulate® will initially be used for approximately
15% of the market for this year (Total Market more than 400,000
units) which is at least 60,000 homes.
The Green Mortgage program is designed to promote the
incorporation of energy sustainability criteria in the homes that
INFONAVIT finances, supporting the National Strategy for Climate
Change, ensuring energy and water savings that will make homes more
affordable and improve the environment. Since the Green
Mortgage program was launched in 2009, Infonavit has originated a
total of 150,668 green mortgages for MXN 28.9 billion (USD 2.2
billion) and is financed by its lending operations, by mandatory
employer contributions on behalf of the country's 14.4 million
salaried workers, and by mortgage bonds. Infonavit plans to make
between 475,000 and 525,000 mortgages this year.
About Nansulate®
Nansulate® is the Company's patented product line of award
winning, 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, fire resistance, chemical resistance and
lead encapsulation in an environmentally safe, water-based, coating
formulation. The Nansulate® Product Line includes industrial,
residential, agricultural and solar thermal insulation coatings.
Additional information about the Company and its products can be
found at their websites, (www.industrial-nanotech.com) and
(www.nansulate.com). Blog: www.nansulate.com/nanoblog, Twitter:
www.twitter.com/NanoPioneer, Search ‘Nansulate’ on Facebook.
About Distribuidora Nano de America S.A. de C.V.
Distribuidora Nano de America is a manufacturer and distributor
of coatings developed with nanotechnology. They represent important
research companies from Europe and the United States. All their
products are related to energy saving, water saving and
anti-bacterial coatings. Nansulate® is their main product line and
has proved to be an excellent energy saving and anticorrosion
material. Additional information about the company can found at
www.de-nano.com.mx.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and
research leader and member of the U.S. Greenbuilding Council, the
American Solar Energy Society, and an official ALLY organization
with the U.S. Dept. of Energy "Save Energy Now" program. The
Company develops and commercializes new and innovative applications
for sustainable nanotechnology which are sold worldwide.
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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