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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today the use of the Company's nanotechnology based coating on US Navy buildings for lead abatement. Nansulate LDX is the Company's patented innovative lead encapsulation coating and is being applied at a Pacific US Navy facility by a military contractor for encapsulation of the existing lead-based paint.
"This is a relatively small initial order, but it is a very significant breakthrough in our ongoing efforts to gain market share for Nansulate LDX throughout US Government facilities worldwide. The performance capabilities of our new environmentally safe, water based, lead abatement coating offers a new technology in lead abatement that can be applied to any substrate, forming a barrier coat to seal highly toxic lead paints," explained Francesca Crolley VP of Operations for Industrial Nanotech. "In addition to superior performance compared to traditional lead encasement coatings, Nansulate LDX offers the additional benefits which are the standard of Nansulate product line; the combination of thermal insulation, protection against corrosion, and the prevention of mold growth without the use of toxic moldicides. The ease of application, the performance criteria, and surface tolerance make Nansulate LDX a premier lead abatement coating."
Other facilities have recently utilized Nansulate LDX for superior lead encapsulation. The application of Nansulate LDX to a commercial office project by Southern Environmental Services in Marietta, Georgia was successfully completed. The 30,000 square-foot building was previously contaminated with lead. The product also offers an eco-friendly alternative for environmental remediation.
The dangers of lead-based paint have become the object of multiple state and federal mandatory health regulations. Approximately 75% of homes built prior to 1978 contain lead-based paint. According to a U.S. Environmental Protection Agency (EPA) estimate, lead abatement costs for residential units nationwide are approximately $570 billion, with another $500 billion estimated for the cleanup of commercial facilities. Within the past fifteen years, encapsulation as an abatement technique has surfaced and has become a cost-effective alternative solution, typically costing between 50 to 80% less than the cost of lead paint removal and replacement.
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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