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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that the Company's newest patented energy efficient product, Nansulate EPX, was successfully demonstrated by the Company's Turkish distributor, Kolorgen Ltd, at Textile Machinery 2008 - the 25th International Textile Machines, Side Industries, and Textile Chemicals Fair held in Istanbul May 14-18, 2008.
"At the exhibition, people were amazed to see a 140 C (252 F) temperature difference with just a 6 millimeter thickness of EPX," explained Dr. Vedat Bilgin of Kolorgen Ltd. "The hot plate temperature was 200 C (392 F) and the surface temperature of the thin metal panel coated with Nansulate EPX and placed on it was less than 60 C (140 F). The performance of EPX is beyond belief! The higher temperature stability of EPX opens up higher temperature using markets such as glass, ceramic, cement, petrochemicals, etc. I personally believe that we can decrease the world's energy demand significantly, just by using Nansulate, wherever applicable. You really have great minds over there."
Kolorgen, Ltd. has increased their initial order of Nansulate EPX from one shipping container of 1800 gallons to a total of 2100 gallons with a retail value before distributor discount of $220,500.00 USD. This is in addition to the recent order of over $1,000,000 USD placed by Kolorgen for Nansulate High Heat and Nansulate PT which the Company began shipping to them last month.
Dr. Bilgin continued, "We met some of the biggest textile and machinery producers and they were all interested in the quick curing EPX for immediate energy savings. The estimated potential in the textile market in Turkey alone is worth more than 200 million USD and we expect to grab a minimum of 5% of this untapped market within the next 12 months."
Nansulate EPX has an industry high thermal insulation capability combined with exceptional fire resistance and excellent chemical resistance. Nansulate EPX also provides protection against corrosion, the ability to be applied from one eighth inch thick to several inches thick, a rapid cure time, durability in severe service environments, and is a strong, very light weight, easy-to-apply material.
"This was a very important first demonstration for our patented Nansulate EPX system," stated Francesca Crolley, V.P. of Operations & Marketing for Industrial Nanotech, Inc. "Based on the fact that we have orders for Nansulate EPX totaling nearly half a million dollars before printing the first brochure, we believe this could be a home run product. After almost three years of development, we are pleased with the exceptional performance of this extraordinary product and the enthusiastic reception it is receiving in the marketplace."
Nansulate® EPX is the Company's newest addition to their patented line of greentech coatings which have a four year track record of providing energy and cost saving solutions for industry and homeowners worldwide.
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, resistance to mold growth, lead encapsulation, chemical resistance, and fire resistance 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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