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Industrial Nanotech (Pink Sheets:INTK), a company that specializes in nanotechnology innovation and product development, today reported that the Company has received a purchase order from Northstar Power Engineering Co, Ltd. (NPEC), a company that provides industrial supplies for the oil and gas industry, textile industry, power plants and civil infrastructure projects in China.
Northstar Power Engineering is increasing its inventory of Nansulate as it plans to market the Company's unique nanotechnology-based coating to China's growing textile industry. NPEC already has a buying inquiry from a textile factory for 300 dyeing tanks with 120 square meters of surface area per machine which would equate to over 5,000 gallons of Nansulate. The company became a distributor of Nansulate in August 2006 after evaluating the capabilities and applications of Industrial Nanotech's insulative and anti-corrosive coatings and has since been marketing them to a broad industrial market within the People's Republic of China.
"The great success of Nansulate in Turkey is a perfect example of how our coatings' unique performance characteristics can facilitate their rapid and widespread adoption by textile plants and dyehouses. When applied to LNG burners within dyehouses throughout Turkey, Nansulate reduced energy costs initially by over 20%, growing even higher in the long run translating to hundreds of thousands of dollars in cost savings. We are confident that such positive results will fuel the same type of growth in China, whose textile industry is at record setting production levels with projected production of $161 billion in 2007," commented Francesca Crolley, VP of Operations and Marketing for Industrial Nanotech.
China is believed to have purchased two thirds of the world's textile production machinery sold over the past four years and the country currently has approximately 40,000 clothing manufacturers.
About Industrial Nanotech
Industrial Nanotech Inc. is a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology that address real-world needs through its funding of and participation in research with world-leading scientists and laboratories, including the U.S. Center for Integrated Nanotechnology (CINT) and Princeton Polymers Laboratories. The Company's Nansulate ( http://www.nansulate.com ) is a product line of water-based translucent insulation coatings containing a nanotechnology-based material.
About Northstar Power Engineering Co., Ltd.
Northstar Power Engineering Co., Ltd. (NPEC), founded in early 2002, is a service company that provides technical, engineering, procurement, product and directly related services worldwide. NPEC is a private enterprise in the People's Republic of China which has worked with multinational companies such as Bechtel, AECL and Hitachi.
For more information about NPEC, visit http://www.npec.com.cn
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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Industrial Nanotech, Inc.
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