Industrial Nanotech, Inc. Enters Heat Process Equipment OEM Market with Project Valued at Approximately 5 Million Dollars US ...
March 07 2011 - 8:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology based energy saving solutions, today
announced that the Company has entered the heat process equipment
OEM market with a project to provide Nansulate® to an industrial
boiler manufacturer for application on all new equipment
manufactured by the customer. Nansulate® is the Company's patented
product line of award winning, energy saving protective coatings
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. Revenues from this OEM deal are estimated to be
approximately five million dollars annually.
“We have been very successful for many years at reducing the
energy consumption of heat process equipment for our previous
customers who insulated their existing in-service boilers with our
coatings, resulting in Nansulate® generally paying it for itself in
12 - 18 months,” states Francesca Crolley, VP of Business
Development for Industrial Nanotech, Inc. “With these proven energy
cost savings, plus the protective benefits that our coatings offer
and their long-term durability, it was a natural progression for
manufacturers of this type of equipment to begin to install it at
the factory to make their products more energy efficient. This
project is an important first step into the OEM market for energy
efficiency of heat process equipment, including boilers, heat
exchangers, steam traps, valves, distribution and return lines, and
pressure reduction stations and is a valued addition to our other
current OEM projects which include building materials and consumer
goods.
Ms. Crolley continues, “Nansulate® provides solutions for
insulating steam process systems and reducing related carbon
emissions that is significant and long lasting. One of our textile
clients reduced their liquid natural gas (LNG) consumption in 2007
& 2008 by 2,211,599 Standard Cubic Meters (Sm3), which was a
cost savings directly attributed to Nansulate® insulation coatings
of $852,437 USD. Their investment in the purchase of Nansulate® was
$200,000 and installation cost was $100,000, therefore their
payback period was only seven months. This represented a 20%
reduction in energy use. Another manufacturing client who used the
coatings on their steam process system components reduced their
steam injection cycles by more than 50%, while improving product
quality due to a more consistent process temperature. Yet another
client who insulated their boilers, dye machines, and heat
exchangers with Nansulate® High Heat recorded their reduction in
LNG consumption and reported over a 20% decrease in energy
consumption and an anticipated average savings per month of $40,000
US in energy costs.”
For further information on Nansulate® Sustainable Coatings
visit: www.nansulate.com.
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, Facebook:
www.facebook.com/Nansulate.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and
research leader and member of the U.S. Greenbuilding Council 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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