Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Industrial Nanotech Announces Results of September Meetings In NY and NJ With Petrobras, One of the World's Top Ten Energy Producers

Abstract:
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, today announced the results of the recent visit by a team from Petrobras' headquarters. Petroleo Brasileiro SA, or Petrobras, is the Brazilian oil & gas producer and one of the world's largest oil and gas companies. The team from Petrobras spent ten days with members of Industrial Nanotech's research scientists, business development team, and management at the Company's laboratory in Union, NJ and in meetings in New York, NY from September 8-17. The meetings were originally scheduled to run from September 8-12, but were extended to Sept 17th at the request of the Petrobras team.

Industrial Nanotech Announces Results of September Meetings In NY and NJ With Petrobras, One of the World's Top Ten Energy Producers

NAPLES, FL | Posted on October 6th, 2008

"The team from Petrobras has informed us that they have made the decision to use our new Nansulate EPX product instead of the previously chosen Nansulate HH product," stated Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "In fact, they were so astonished by the multiple performance capabilities of EPX that they were taking video clips of the demonstrations at our laboratory to email to associates in different departments back at their headquarters in Rio de Janeiro, Brazil."

The Company received written confirmation this past Friday from Petrobras of the new EPX product volume estimate and timeline. No projects will be beginning until early 2009 due to the internal certification process of EPX necessary prior to purchase. New projects are being added. The new estimated total value of the projects has increased from approximately 5.8 million dollars US to over 20 million dollars US.

Mr. Burchill continues, "Obviously, the additional delay in a deal we have been working on for years, caused in part by their decision to switch from using Nansulate HH to Nansulate EPX, is disappointing in terms of our near term revenue objectives, but we all recognize that delays in major oil and gas infrastructure construction projects are not unusual and the increase in project numbers and size is reassuring in terms of the scale of our future in the oil and gas industry in general. We are also currently in early stage discussions about the use of our new Nansulate EPX with BP, Exxon Mobil, ConocoPhillips, and Bredero Shaw...a global leader in industrial pipe coating with more than twenty seven pipe coating facilities on six continents. This is a time consuming and tedious process, but we believe the results will be worth the patience and effort required to gain entry into this lucrative market sector and getting it right is the critical component to our long term success with these major international oil and gas companies."

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.

About Nansulate(R)

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.

Nansulate EPX is a water based epoxy system which 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.

####

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.

For more information, please click here

Contacts:
For Industrial Nanotech Inc., Naples
Investor Relations:
The Cervelle Group, LLC
Rob Karbowsky
407-475-9966 ext. 227

or
Media Inquiries:
The Cervelle Group, LLC
Tina Kuhn
407-475-9966

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

University of Tehran Researchers Invent Non-Enzyme Sensor to Detect Blood Sugar April 23rd, 2014

Gold nanoparticles help target, quantify breast cancer gene segments in a living cell April 23rd, 2014

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Materials/Metamaterials

Guo Lab Shows Potential of RNA as Heat-resistant Polymer Material for Nanoarchitectures April 23rd, 2014

Nanomaterial Outsmarts Ions April 22nd, 2014

Thinnest feasible membrane produced April 17th, 2014

INSCX™ exchange to present Exchange trade reporting mechanism for engineered nanomaterials (NMs) to UK regulation agencies, insurers and upstream/downstream users April 17th, 2014

Announcements

Characterizing inkjet inks: Malvern Instruments presents new rheological research April 23rd, 2014

NanoSafe, Inc. announces the addition of the Labconco Protector® Glove Box to its NanoSafe Tested™ registry April 23rd, 2014

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Interviews/Book Reviews/Essays/Reports/Podcasts/Journals

Gold nanoparticles help target, quantify breast cancer gene segments in a living cell April 23rd, 2014

Economics = MC2 -- A portrait of the modern physics startup: Successful companies founded by physicists often break the Silicon Valley model, according to new American Institute of Physics report April 23rd, 2014

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Events/Classes

Characterizing inkjet inks: Malvern Instruments presents new rheological research April 23rd, 2014

PETA science consortium to present hazard testing strategy at nanotoxicology meeting: High tech field ripe for use of sophisticated non-animal testing strategies April 22nd, 2014

National Space Society Congratulates SpaceX on the Success of CRS-3 and the First Flight of the Falcon 9R April 22nd, 2014

INSCX™ exchange to present Exchange trade reporting mechanism for engineered nanomaterials (NMs) to UK regulation agencies, insurers and upstream/downstream users April 17th, 2014

NanoNews-Digest
The latest news from around the world, FREE







  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE