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Report Shows Henateks Achieved Return of Initial Investment Plus 130% Return On Investment with Industrial Nanotech's Patented NansulateŽ Energy Saving Technology in Year One. Subsequent Annual Savings Projected to be Even Greater
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanoscience solutions, today announced the company's Turkish distributor, Kolorgen Ltd., has received a final report on the 2008 energy savings from a study by textile manufacturer Henateks Boya ve Apre Sanayi Tic. A.S. (Henateks.com) on the performance of the Company's patented NansulateŽ nanotechnology-based thermal insulation coatings. The results show that Henateks' plant reduced their energy consumption overall by 20%, reduced use of liquid natural gas by 1,097,447 m3 and saved over $460,000.00 USD in the fiscal year 2008 by applying Industrial Nanotech's patented NansulateŽ insulation and corrosion prevention coatings throughout their facility to insulate dye machines, steam boilers, heat exchanger, steam lines, and other heat processing equipment. The cost of the NansulateŽ product they used was only $200,000 US and the cost of application of the product was approximately $100,000 US. It is anticipated that their annual savings will increase to nearly $750,000 US per year when economic conditions improve and the plant is operating at full capacity. A copy of the report can be downloaded from: www.nansulate.com/pdf/Heneteks_2008savings.pdf
"Henateks first decided to give our unique insulation technology a try back in October of 2006," explained Francesca Crolley, V.P. of Business Development for Industrial Nanotech, Inc. "Their story is a familiar one to us. After initial disbelief that a thin film insulation like Nansulate could perform, they decided to try it and, after experiencing the significant energy and cost savings for themselves, they have now become one of the most vocal supporters of the technology. They have even stated on their corporate website that they are proud to be one of the first major textile companies to implement heat insulation using nanotechnology. Their reported savings of 20% is significant, not only in the huge dollar cost savings, but also in the reduction of carbon emissions. The results documented by their study are a perfect example of what Nansulate technology can do for every company and every homeowner on the planet, providing both a significant financial benefit and helping to reduce global warming and energy consumption. Since their study has been available on our website, it has been the number two most requested download, second only to the product application instructions. This is clearly of great value to companies around the world looking for effective cost and energy saving solutions."
In an interview with Tekstil & Teknik Magazine in April of 2008, Henateks' General Manager, Eyup Sozdinler, explained their first perception, "At first, the idea of offering heat insulation via a thin layer was absurd. However, we decided to try." After their initial success applying NansulateŽ Translucent High Heat to all their uninsulated surfaces, such as heat exchangers and dyeing machines, they decided to remove the fiberglass insulation on their steam boilers and piping and replace it with the nanotechnology-based coating. Mr. Sozdinler added, "Because of global warming, our duty is to make use of energy as efficiently as possible; wasted energy is wasted national wealth. This is why I highly recommend this NansulateŽ technology to all of the textile industry and other heat using industries."
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.
About Industrial Nanotech
Industrial Nanotech Inc. is a 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 new and innovative applications for nanotechnology which are sold worldwide.
Henateks produces 10,000 tons of fabric dyeing and finishing for global giants such as Nike, Tommy Hilfiger, Puma, Adidas and Reebok and is one of the leading companies of Turkey.
Nansulate(R) 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(R) 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.
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For Industrial Nanotech, Inc.
The Cervelle Group, LLC
Rob Karbowsky, 407-614-5959, ext. 227
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