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Industrial Nanotech, Inc. (Pink Sheets: INTK), an emerging global leader in nanotechnology, announced today that NanoFan General Trading, a company that specializes in industrial solutions to petrochemical facilities and other heavy industry, has purchased the exclusive distributorship rights for the Company's product line in the United Arab Emirates. Prior to acquiring the distributor rights for Industrial Nanotech's product line, NanoFan had already successfully completed several pilot projects utilizing the Company's patented Nansulate energy saving industrial protective coatings at petrochemical facilities in the Middle East. NanoFan General Trading is based in Ajman, United Arab Emirates.
"We are very pleased to be working with this strong, well established and progressive company," stated Francesca Crolley, V.P. Of Operations & Marketing for Industrial Nanotech, Inc. "Nanofan's experience in industry and innovative introduction of new technologies have already been a benefit for Nansulate in the petrochemical industry. This is an important target market for us and the Middle East is rich with opportunity for our products. We are impressed with the projects that NanoFan has already completed in this industry and look forward to the substantial revenue stream anticipated from their upcoming projects. Nanofan provides us with a strong partner in this important region to expand our market share not only the petrochemical market, but other important industrial and oil and gas target markets as well."
With more than 40% of all pending global petrochemical capacity to be built by 2011 scheduled for the Middle East, the region is becoming the world's petrochemical hub. Companies such as Saudi Basic Industries Corp, the world's largest petrochemical maker by market value, and Dow Chemical Co. are investing in regional petrochemical production to take advantage of buoyant global demand, particularly from Asia, and the comparatively cheap local price of natural gas, commonly used to make chemicals and plastics.
NanoFan General Trading F.Z.E. Is a pioneer of innovative coatings for industrial applications in the Middle East. Their team combines a unique group of educated and innovative people from various sciences and industry and engineering backgrounds. They provide full industrial customer support and service, including installation and project management to adapt the solutions that nanotechnology provides to industry and society demands.
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, and lead encapsulation 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
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407-475-9966 ext. 227.
The Cervelle Group, LLC
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