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Industrial Nanotech, Inc., (Pink Sheets:INTK), announced today the appointment of two technical advisors, engineer Carlos Saad Fraiha Filho and Dr. Carlos Peiter, to oversee its new project with Petrobras (NYSE:PBR), the Brazilian oil and gas company. Industrial Nanotech, an emerging global leader in nanotechnology, is scheduled to supply Petrobras with an initial 50,000 gallons of its nanotechnology based thermally insulating and corrosion prevention coating, Nansulate High Heat, in June 2007.
Mr. Carlos Saad is a civil engineer with a Masters degree in business management, and more than 20 years of project management experience, including previous work with Petrobras. Dr. Carlos Peiter has a PhD. in engineering and works for a major Brazilian national laboratory.
"Due to Petrobras' request for technical and logistical support, we have appointed Mr. Saad and Dr. Peiter to provide them with specific technical expertise," explained Francesca Crolley, V.P. Operations & Marketing for Industrial Nanotech. "Mr. Saad's and Dr. Peiter's knowledge will be invaluable onsite to provide training and supervision and ensure the proper application of Nansulate High Heat to 51,510 square feet of surface area per day. As we continue to expand our working relationship with Petrobras, these advisors will help identify more applications where our technology can save energy and solve problems of corrosion in the oil and gas markets."
Petrobras, short for Petroleo Brasileiro S.A., is a government-owned Brazilian oil company that is one of the 15 largest oil companies in the world, leading the oil and gas sector in the development of the most advanced deepwater and ultra-deep water technology for oil production. The company controls oil and power industries assets and related business activities in 16 nations throughout Africa, North America, South America and Asia.
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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For Industrial Nanotech, Inc., Naples
Martin E. Janis & Company, Inc.
Beverly Jedynak, President, 312-943-1100 ext. 12
Laura Grock, Vice President, 312-943-1100 ext. 13
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