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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, today announced that the Company has chosen a manufacturing, sales, and distribution partner in China to capitalize on the country's growth and renewed interest in energy efficiency.
As of May, 2009, China had already spent 230 billion yuan of the country's 4-trillion yuan (about 585 billion U.S. dollars) stimulus package, which was unveiled in 2009 to protect the world's third-largest economy during the global economic crisis, and ten percent has been directly invested in energy saving, pollution reduction and environmental protection projects, according to China's National Development and Reform Committee (NDRC). The NDRC is China's top planning agency.
"We have been working for several years to find the right business partner in China," states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "That effort became more intense late last year as China began to invest more heavily than ever into infrastructure, including an intensified effort to curtail its rapidly rising energy consumption. The coating manufacturing, sales, and distribution company we have chosen is well established, has been successful for many decades, and owns multiple factories throughout China. The company has a very substantial sales force and distribution channels throughout China, is ISI 9001 certified, serves both the industrial and residential customers, has an excellent reputation for both their products and customer service, and is expanding rapidly to build more factories to serve this fast growing region. The product will be sold under their company name, which is well known and highly regarded throughout China, but it will still retain the Nansulate brand and a reference to ‘Technology by Industrial Nanotech, Inc.' and our logo. This allows us the dual opportunity to brand our corporate name in China while the product benefits from their company's strong name recognition. The name of the partner company will be released shortly prior to the release of the product for sale in China later this year. "
Mr. Burchill continued, "Additionally, while we respect the integrity and honor of the company's principals and management, they understand that we have general IP concerns in this region and we have agreed to a relationship where our IP is further protected by the fact that we will send them premixed components under our own label which they will use to make the Chinese product. It is a very desirable arrangement in a market that provides Industrial Nanotech, Inc. with substantial additional revenue opportunities."
Nansulate® is the Company's patented product line of award winning, 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, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate® Product Line includes industrial, residential, agricultural and solar thermal insulation coatings. Additional information about the Company and its products can be found at their websites, (www.industrial-nanotech.com) and (www.nansulate.com). Blog: www.nansulate.com/nanoblog, Twitter: www.twitter.com/NanoPioneer.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is an emerging global nanoscience solutions and research leader and member of the U.S. Greenbuilding Council and the American Solar Energy Society. The Company develops and commercializes innovative applications for nanotechnology.
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.
The Cervelle Group, LLC
407-614-5959, ext. 227
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