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Industrial Nanotech, Inc., an emerging global leader in nanotechnology, announced today that its distributor, MARMO d.o.o., has been awarded a contract to supply Nansulate®, Industrial Nanotech's proprietary protective coating, for the renovation of a military complex in Slovenia. The contract is expected to generate substantial revenue for the company, although the exact value of this contact is still being determined.
Industrial Nanotech, Inc., (INTK.PK - News), an emerging global leader in nanotechnology, announced today that its distributor, MARMO d.o.o., has been awarded a contract to supply Nansulate®, Industrial Nanotech's proprietary protective coating, for the renovation of a military complex in Slovenia. The contract is expected to generate substantial revenue for the company, although the exact value of this contact is still being determined.
MARMO will apply Nansulate® to the exterior of the military building, which is about 20km (approximately 12 miles) outside the capital of Ljubljana, to provide thermal insulation and resistance to moisture and mold. The extensive renovation is expected to begin early spring 2007.
Igor Frelih, chief architect for the military renovation project, chose the Nansulate® coating following a demonstration of the product in Slovenia. "Nansulate's unique translucent appearance makes it a good solution for restoration projects, since it can be applied to building exteriors or interiors without changing the look, while allowing an invisible layer of thermal, moisture and mold protection to be applied to the building," said Francesca Crolley, Vice President of Operations and Marketing for Industrial Nanotech.
This renovation project could mark the first of a series of similar projects throughout Eastern Europe. "Our activities at the moment focus on introducing the Nansulate products to architects, such as Mr. Frelih," explained Olivijo Ostakovic, Manager of MARMO. "We have seen increased interest from them in using Nansulate as a protective coating for buildings. As a result, we are starting the process to obtain the CE mark for Nansulate, which could offer additional marketing opportunities throughout Eastern Europe, as we have already received inquiries about the product from Romania, Croatia and Serbia."
With a GDP per capita substantially greater than the other transitioning economies of Central Europe, Slovenia is a model of economic success and stability for its neighbors in the former Yugoslavia. Slovenia acceded to both NATO and the EU in the spring of 2004, and controls some of Europe's major transit routes.
"There are a number of aging buildings in Eastern Europe for which insulation and moisture protection is sought, but with a need to keep the beauty of these historical structures intact," added Crolley.
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is quickly emerging as a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology. Additional information about the Company and its products can be found at their websites, ( http://www.industrial-nanotech.com ) and ( http://www.nansulate.com ).
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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Martin E. Janis & Company, Inc.
312-943-1100 ext. 12
Martin E. Janis & Company, Inc.
312-943-1100 ext. 13
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