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Industrial Nanotech, Inc., (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that an agreement has been reached with Kwik Ice, Inc. of Oklahoma to supply Nansulate® Coatings for their entire fleet of refrigerated trucks and trailers, the company's freezers, and throughout the manufacturing facility for thermal insulation, protection of metal surfaces corrosion, and prevention of mold growth in the high humidity environment. The agreement was obtained through Industrial Nanotech's Oklahoma-based distributor, Pioneer Builders. Total value of the project has not yet been released. Nansulate® received NSF registration, certifying it as safe and permitted for incidental contact with food items, in 2006.
Refrigerated trucks continue to be an expanding industry. Frost & Sullivan forecasts the refrigerated truck industry in North America will reach 6.30 billion dollars in revenues in 2011 from 1.68 billion dollars in 2004. Refrigerated transport plays a vital role in the safety of food and beverages. With consumers demanding better food safety, and fuel prices continuing to rise, transporters of frozen and chilled products are looking for cost effective solutions to help their products arrive for sale at the required temperatures.
"Industrial Nanotech's nanotechnology based coatings continue to create value and health benefits for the food and beverage industry," stated Francesca Crolley, V.P. Operations & Marketing for Industrial Nanotech. "Our market share in the refrigerated transport industry is expanding and we look forward to continuing to provide solutions to high fuel costs and food safety with our environmentally responsible products."
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 ).
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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