Industrial Nanotech, Inc. Issues Update
March 12 2012 - 8:28AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology based energy saving and sustainable
solutions is pleased to update its shareholders and supporters of
recent activity and progress. The Company has been working
diligently to cultivate several valuable sales channels, identify
new markets and sources of revenue, and has produced tangible
results including initial implementation and resulting
installations for corporate and government projects.
1. Upgrading the energy efficiency of windows, especially in
large older factories is becoming a very significant source or
revenue for the Company. Older factories were built with “walls of
windows”, which were effective at letting light in, but very energy
inefficient. Applying the Company’s translucent Nansulate(R) Energy
Protect is a cost effective solution that still lets the light in,
but reduces heat transfer through the glass. As an example, a
factory in Ohio utilized Nansulate(R) on their windows and the
result was a real dollar energy saving amount equal to eight times
the amount of their original investment in Nansulate(R) was
achieved in the first four months subsequent to the
application.
According to the U.S. Department of Energy, commercial and
residential buildings account for nearly 40 percent of energy used
in the U.S. With energy costs soaring, the green building materials
industry has grown to $156 billion a year. With their coatings
already being used on other areas of the building envelope - walls,
roofs, ceilings, skylights - to reduce energy costs, the Company is
aggressively pursuing factory windows in older buildings, as well
as other building applications.
“Windows are one of the largest energy wasters in any building
as they allow a great deal of heat transfer,” stated Francesca
Crolley, VP Business Development for Industrial Nanotech, Inc.
“There are thousands of factories and commercial buildings built
with single pane windows, and building owners are finding that
replacing these windows is cost prohibitive. Our technology offers
an affordable and effective way for the existing windows to be
insulated easily with a spray on application that can also be
sprayed over frames to further reduce thermal bridging. Our Energy
Protect coating allows through over 90% of the visible light, while
reducing heat transfer and resulting energy costs, and also
reducing UV light, which is desirable by museums trying to protect
artwork from fading.”
2. The Company has expanded into the historical preservation and
restoration market. Upcoming projects include a U.S. military
museum and a New York State historic restoration project to install
the Company’s clear lead encapsulation product, Nansulate(R) LDX.
Additionally, the company has submitted an abstract to speak at the
Annual Association for Preservation Technology International (APT)
Conference held in September, to illustrate the benefits that
nanocoatings can provide for preservation and restoration of
historic sites.
3. Industrial Nanotech moved into the OEM market, including
integration of the Company’s Patented Nansulate® coatings into
building products. Application of Nansulate® by several large major
customers to their products at the factory is expected to begin in
the very near future and will substantially impact revenues.
4. A multi-year project with a Southeast Asian government is
beginning by midyear, resulting in a high dollar volume marque
project for resistance of mold growth and surface protection on a
high profile building which is well known throughout the region and
globally. This will add to the Company’s profile of providing
multi-solution nanotechnology products which not only save energy,
but perform a variety of other tasks, such as mold resistance,
corrosion prevention, moisture resistance, UV resistance, chemical
resistance and lead encapsulation.
5. One of the Company’s European distributors has been working
with a major provider of rail transportation, who after completing
initial testing, has approved a field study over several tunnels
for Nansulate(R) coatings to trial the ability of the coating to
prevent icicle formation in tunnels and overpasses in order to
reduce train derailment due to ice dropping on rail tracks. This
study is ongoing and expected to be completed in 2012.
6. The company has been presenting their nanotechnology based
solutions to a number of fortune 500 companies and companies on the
Dow Jones Sustainability Indexes over the past two years. Many of
these companies have completed or are close to completing initial
due diligence projects at U.S. based factories with the technology,
and the Company anticipates several multi-plant projects beginning
in 2012 and continuing into 2013 and beyond.
“We have been working diligently to replicate the model that we
used with global textile manufacturer, Coats plc,” stated Ms.
Crolley. “Initial due diligence projects for energy saving
calculations were completed as a first step at two of their
facilities, which then resulted in a global sustainability project
with our Nansulate(R) coatings being used to insulate equipment in
their factories throughout 28 countries. We have the ability to
drastically reduce energy intensity in manufacturing with an
extremely short payback period, and we have been taking that
message to plants and factories throughout North America for the
past several years. With the economy beginning to recover, we are
seeing the fruits of those efforts begin to be realized.”
For further information on Nansulate(R) nanotechnology based
coatings and sustainable solutions visit: www.nansulate.com.
About Nansulate(R)
Nansulate(R) 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(R) 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.inanotk.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. Green Building Council. 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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