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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, today announced the shipment this week of the first of ten containers of the Company's patented Nansulate energy saving protective coatings to Kolorgen, Ltd, the Company's distributor in Turkey. The product is being applied at the Denizli Basma ve Boya Sanayii a.s. (DEBA) textile plant to reduce energy consumption and protect against corrosion of equipment in their textile facility, one of the region's largest. The order will continue to be shipped and paid for at a rate of one sea container per month for the next ten months and the total order constitutes $1,071,000.00 US in revenue to Industrial Nanotech, Inc.
Dr. Bilgin, President of Kolorgen Ltd, said, "At DEBA, the energy savings is calculated to be a minimum of $1,000,000 USD per year. Nansulate is definitely a revolutionary product and with the current energy problems all over the world, it is the product to be used everywhere possible."
Previous applications of Nansulate to textile mills have been documented to produce significant measurable energy savings. Examples are:
Henateks, a large textile company, used Nansulate® High Heat insulation and corrosion prevention coating on its equipment. The application was completed by April 2007 and the total decrease in natural gas costs for 2007 was 15.5%, which equated to a savings of more than $600,000 USD for this facility. Now that the application is complete, total energy savings is expected to be at least 20% annually. The cost of the product and application paid for itself in seven months.
Keyteks Tekstil, another textile mill, used Nansulate® High Heat on their heat exchangers and dyeing machines. This resulted in a reduction by 25% in the amount of time used to heat three tons of water, a process that the exchangers cycle through several times daily. The reduction in cycle time provided increased productivity. This facility achieved a minimum of 20% reduction in energy use throughout 2007 and 10% reduction in unit material production cost. Nansulate® also improved dye lot reproducibility (consistency in the color of the dyed fabric) by increasing the equipment temperature stability.
"Our relentless step by step strategy of creating a sales platform worldwide through our distributors and independent representatives, combined with consistent contacts with the media to educate the marketplace, continues to pay big dividends in terms of the consistency of exponential revenue growth for the past four years," states Francesca Crolley, VP of Operations and Marketing. "We look forward to continuing this track record and providing real benefits for our customers and our shareholders."
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.
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, (www.industrial-nanotech.com) and (www.nansulate.com).
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
The Cervelle Group, LLC
Rob Karbowsky, 407-475-9966 ext. 227
The Cervelle Group, LLC
Tina Kuhn, 407-475-9966
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