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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that it has awarded African distribution rights for its Nansulate® product line to Megaros Industrial Products.
Since 1995, Maryland-based Megaros Industrial Products has cultivated a significant track record in the engineering, industrial products, and specifically in high tech coatings. Its projects include public works, including those in association with the Maryland Highway Administration.
"We are very excited to begin our alliance with Industrial Nanotech and feel their products can have a lasting impact in Africa. Our efforts will be focused on both the industrial and residential areas," said James Umekwe, President, Megaros Industrial Products, Inc. "We feel that Nansulate has great potential in industrial markets like oil & gas, petrochemical and manufacturing to decrease energy use, protect equipment and decrease carbon emissions. On the residential side, we look forward to introducing a product that provides an economical means to keep homes cooler, thus improving quality of life. We look to make Nansulate a household name, and, as our business grows, to offer employment and economic opportunities throughout Africa."
Industrial Nanotech and Megaros see areas of economic opportunity in many parts of Africa. For instance, Botswana and South Africa are two of Africa's most successful economies. South Africa has access to financial capital, numerous markets, skilled labor, and first world infrastructure in much of the country. Botswana's capital and largest city, Gaborone, is one of the world's fastest growing cities. Nigeria sits on one of the largest proven oil reserves in the world and has the highest population among nations in Africa, with one of the fastest-growing economies in the world.
"We welcome Megaros Industrial Products to our network of international distributors," states Francesca Crolley, VP of Operations and Marketing for Industrial Nanotech, Inc. "We are excited to enter the African market and see many opportunities for our nanotechnology-based coatings to provide energy savings, corrosion resistance, and improve health conditions by keeping buildings and dwellings cooler despite the common lack of air conditioning, as well as provide protection from mold growth and encapsulation of lead-based paints. We look forward to continued expansion in this region."
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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