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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that it will begin promoting use of its insulation coating, Nansulate®, for energy reduction projects associated with earning carbon credits under the Kyoto protocol.
CERs, also known as carbon credits are issued under the Clean Development Mechanism (CDM) of the Kyoto Protocol. Carbon Credits are an exchangeable permit process that provides a way to reduce greenhouse gas emissions by giving them a monetary value. A credit is awarded for energy saving projects with verified reduction in emissions. By allowing credits to be bought and sold, companies can purchase credits to help them meet quotas for reducing emissions.
"Our nanotechnology based coatings are already reducing energy use in the textile industry by 10% to 20%," stated Francesca Crolley, VP Operations & Marketing. "And that's just one industry example. Our technology is helping companies and individuals achieve their energy reduction goals around the world, and it makes perfect sense to offer our coatings as an effective solution to the reduction of carbon emissions through carbon credit projects."
"Our company is proud to be at the forefront of Green Nanotech', by using the science of nanotechnology to create products that are friendly to the environment and save energy. Reduction of carbon emissions and carbon footprints' is fast becoming the number one priority of corporations both overseas and here in the states, and Industrial Nanotech believes that our science can make a positive contribution to this issue," Ms. Crolley continues.
In a recent textile publication Eyüp Sözdinier of Heneteks A.S. stated: "Because of global warming, our duty is to make use of energy as efficiently as possible; wasted energy is wasted national wealth. This is why I highly recommend this technology to all of the textile industry and other heat using industries."
The market in carbon credits grew faster than expected in 2006, tripling to $30 billion from $10 billion in 2005, according to the World Bank. Nearly $25 billion came from transactions under the EU's emissions trading scheme, while $5 billion was from the sale of carbon credits by developing countries. The World Bank said carbon markets had resulted in capital flows from rich to poor countries of about $8 billion since 2002, and estimated $14 billion of further gains to developing countries through investment in "clean" energy technology.
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is rapidly 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 ).
Nansulate® is the Company's patented product line of specialty coatings containing a nanotechnology based material and which are well-documented to provide the combined performance qualities of thermal insulation, corrosion prevention, and resistance to mold growth in an environmentally safe, water-based, coating formulation. The Nansulate® Product Line includes both industrial and residential coatings.
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
Martin E. Janis & Company, Inc.
Laura Grock, Vice President, 312-943-1100 ext. 13
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