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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that its CEO, Stuart Burchill, will be meeting with engineers and executives at the headquarters of Petrobras, Brazil's oil and gas company, to discuss additional projects on August 27 - 31, 2007. Industrial Nanotech is currently scheduled to provide its nanotechnology based coatings to Petrobras for 250 kilometers of pipeline.
"The unique performance characteristics of the coating which we custom designed to suit their needs for the 250 kilometer pipeline project, combined with our recently developed application process and equipment which dramatically reduces application time and therefore cost, is quite an innovative solution. This has generated interest at the executive levels of Petrobras' management in Industrial Nanotech's broad spectrum of skill sets," states Stuart Burchill, CEO of Industrial Nanotech. "I received the invitation last week from the project manager with whom we have been working since last summer and I have committed to the dates they requested. His superiors have asked for meetings with me to discuss other potential applications for our products and capabilities at Petrobras facilities throughout the world."
Mr. Burchill will attend two days of meetings with engineers and senior management at Petrobras headquarters in Rio de Janeiro, then spend a day touring the oil and gas pipe manufacturing facility in San Paulo and meeting technical staff there, then visit a pipeline installation project for a field analysis.
Petroleo Brasileiro S.A. (Petrobras) is currently the 12th largest oil company in the world, producing over 2.2 million bbl/day worldwide and with plans to invest US$ 85 Billion over the next 5 years to increase this production to 3.5 million bbl/day. Petrobras has operations and assets in 27 countries, including Argentina, Angola, Bolivia, Colombia, the United States, Nigeria, Venezuela, Mexico, Ecuador, Peru, Uruguay, Paraguay, Chile, Tanzania, Iran, India, Libya, Equatorial Guinea, Turkey, China, Senegal, Mozambique, Portugal and Pakistan.
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(R) 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(R) 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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