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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that the Company has launched a new patented product for the agricultural market which has been proven to provide a solution to the growing crisis that threatens 15 billion dollars worth of crops in the US and billions more worldwide. Failure to halt this decline has the potential to decimate agriculture and triple food prices. Potential revenue to Industrial Nanotech for this product is over 2.5 billion dollars US.
"As reported in testimony to the US House of Representatives about this crisis on 3/29/2007, in the United States alone there are nearly 100 critical crop species, or one third of all agriculture, that rely on annual pollination to produce a harvest," states Stuart Burchill, CEO/CTO of Industrial Nanotech. "No pollination, no food. The primary pollinators worldwide are commercially maintained honeybees. The problem is that bee colonies are dying and have been decimated by 30 - 40 % since 2006 by what is called "colony collapse disorder", threatening the crops both in the United States and around the world. Prior to our product, the problem had remained unsolved."
Mr. Burchill continues, "Directly affected crops include soybeans, almonds, peaches, apples, pears, cherries, raspberries, blackberries, cranberries, watermelons, cantaloupes, cucumbers, strawberries and many other fruits, vegetables, and nuts. Additionally, both the beef and dairy industries are affected because honeybees also pollinate the clover, hay, and other forage crops necessary to feed cattle. There are over 3 million commercial bee hives in the US, almost 9 million in Europe, and the total worldwide number of commercial beehives is over 55 million."
The new product, Nansulate Bee Protect, is a protective coating specifically for beehives which has proven effective at halting this problem of bee loss in eight months of field trials conducted in Tennessee, Hawaii, and Alabama and will now be marketed globally. The product was field tested by Beehive Hawaii, LLC.
"We have been working with Beehive Hawaii since the spring of this year regarding a coating that would help protect bees in their hives," explained Francesca Crolley, V.P. of Operations & Marketing for Industrial Nanotech, Inc. "Field trials with their own hives in multiple locations has indicated that our product has provided a successful solution for the colony collapse disorder which has been a crucial issue in the bee industry worldwide. Their successful results and commitment to helping us understand this important industry were instrumental in our decision to launch this new product, which is called Bee Protect. The product is available directly from Industrial Nanotech at www.nansulate.com/protectbees.htm, or through Beehive Hawaii, who will serve as our exclusive distributor and representative to the industry."
"For our bees, change had to begin at home," said Antonie Botes, President of Beehive Hawaii. "You can relocate to an ecofriendly environment, change their nutritional resources and manage them the best way possible, but at the end of the day you have to improve their hives." He stated that the screen bottom board was the only real change in the Beekeeping Industry since Langstroth introduced his hive in 1851.
Mr. Botes continued, "It is time for a revolution in the industry. That is why we are so excited about the results we are having with Bee Protect."
Beehive Hawaii is working with world renowned researchers in the bee industry, technically known as apiculture, to study the results of Bee Protect. Scientific Beekeeping, Pennsylvania State University, and Bee Research Technology are some of the parties involved in the research.
"We at Beehive Hawaii want to express our gratitude for the Industrial Nanotech team and their work on this project. We believe it is making a significant difference," said Renette Botes, vice president of Beehive Hawaii.
About Beehive Hawaii, LLC
Beehive Hawaii, LLC was founded with the sole purpose of replacing the declining population of the world's honey bees. They run disease free apiaries in secluded environmental breeding grounds and produce and ship complete hive colonies. All beehives now shipped by Beehive Hawaii, Inc. are pre-coated with Nansulate Bee Protect. For more information visit www.BeehiveHawaii.com.
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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