Nansulate® Sustainable Nanotechnology Based Insulation Coatings by Industrial Nanotech, Inc. Specified for Use on Oil Pipeli...
October 07 2010 - 8:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanoscience energy saving solutions, announced today that
their patented Nansulate® Translucent PT thermal insulation and
asset protection coating has been chosen for an oil refinery
project to provide thermal insulation and corrosion protection of
an oil pipeline at Galp Energia’s Porto Refinery. The order for the
project was placed last week by the coating contractor,
Prozinco.
Nansulate® coatings are currently included in an additional
project bid which is pending award, for fuel storage tanks at the
same refinery.
“We have been in contact with Galp Energia for several months
and provided them details related to the performance of our
patented technology for thermal insulation and corrosion control
for oil and gas tanks, pipelines and equipment,“ stated Francesca
Crolley, V.P. of Business Development for Industrial Nanotech, Inc.
“The insulation will be used at their Porto Refinery and will
provide both thermal insulation and corrosion prevention.
Nansulate® coatings are desirable in many types of environments due
to their resistance to moisture absorption and ability to retain
their insulating ability over time without degradation. This
applications consists of 20 coats of Nansulate® Translucent PT for
insulation to reduce surface temperature from 100C to approximately
30C. The overall dry film thickness of the application will be
approximately 1,000 microns. Nansulate® technology was originally
created specifically for these types of applications; to provide a
solution to corrosion under insulation (CUI), while offering
excellent weathering capabilities and performance attributes that
are not typically found in other types of insulation. We look
forward to more projects with Galp Energia in the future.”
Galp Energia SGPS SA, Portugal’s biggest oil company, plans to
invest 5.2 billion euros ($6.5 billion) through 2013 as it develops
projects including Tupi, the biggest oil discovery in the Americas
in three decades. Galp plans to spend 2.2 billion euros on its
refining and marketing division, mostly on conversion projects at
its Sines and Porto refineries as it tries to increase diesel
output and improve refining margins. Galp Energia acquires from
several suppliers the crude oil that is processed in its refineries
at Sines and Porto. These refineries have a total refining capacity
of 310 thousand barrels of crude oil a day, or 20% of the Iberian
Peninsula's refining capacity.
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 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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