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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that a technical executive from Petrobras will be traveling to the US this summer and spending several days with Mr. Burchill, CEO/CTO of Industrial Nanotech, Inc. and his team of scientists at one of the Company's laboratories to outline project specifications for Nansulate EPX, the Company's newest patented energy efficient product, on several major Petrobras projects. These are in addition to the previously announced 250 kilometer pipeline project the Company is involved in which is scheduled to begin in Q3 2008.
"Subsequent to my recent visits to Brazil, at the invitation of Petrobras, which included meetings with engineers from several departments at their headquarters in Rio De Janeiro and several days traveling with them to pipeline installation projects in the region outside of Salvador, they expressed an interest in a material with certain specific performance characteristics," states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "Upon learning about the capabilities of our new Nansulate EPX product during my phone conversation with them this week, they requested several days of meetings at our laboratory in New Jersey to specify the material for additional projects they have planned. We firmly believe that this one-of-a-kind material with its unique and extraordinary capabilities will be applicable in many areas of their pipeline, refinery, and offshore projects and look forward to their visit."
Nansulate EPX has an industry high thermal insulation capability combined with exceptional fire resistance and excellent chemical and corrosion resistance. Nansulate EPX also provides 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.
Petrobras, short for Petroleo Brasileiro S.A., is a government-owned Brazilian oil company and one of the world's largest oil companies. The company controls oil and power industries assets and related business activities in 16 nations throughout Africa, North America, South America and Asia. According to Petrobras President Sergio Gabrielli, their recent major offshore oil discovery, including the Tupi field, would give Brazil the world's eighth-largest oil and gas reserves.
"There are also several other major oil and gas companies with whom we have recently had extensive technical discussions reviewing their pressing needs," continues Mr. Burchill. "We are confident that Nansulate EPX will meet with a favorable reception from them also."
The recently launched 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."
Nansulate(R) 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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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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