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Industrial Nanotech, Inc. Announces Agreement with OEM Solar Manufacturer, Total Energy Care™, to Incorporate Nansulate® Solar in Solar Thermal Panels to Increase Efficiency.
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanoscience solutions, today announced the completion of an agreement with Total Energy Care(TM) (TEC) to represent their patented Nansulate(R) Solar thermal insulation and energy saving coating in Canada for retrofitting energy systems in existing buildings and in new build construction. The agreement includes use of Nansulate(R) Solar product within the solar thermal and thermal storage industries in Canada.
TEC's President, Steven Burke, has committed to using Nansulate(R) on all solar thermal panels manufactured at their new plant. Mr. Burke explains, "Because of the amazing thermal resistance properties shown by Nansulate(R), by applying it on all five of the metal surfaces within a flat plate solar thermal panel, we expect as much as a 20% to 30% increase in the efficiency over traditional insulation used in this industry. The effect of reduction in loss of heat captured from the sun and held in thermal storage tanks promises to be even more profound. And these are huge advantages in the marketplace!"
TEC's strong sales growth plan includes increasing their sales force from 60 to approximately 200 reps by the middle of 2010. Mr. Burke continues, "We can reasonably approach not only the hot water market but also that of space heating, as the end result is a product approaching the efficiency formerly only available from evacuated tube panels, but at a much lower cost. Solar thermal flat plate collectors are far less expensive to manufacture than their airless competitors. At approximately 40% of the cost of buying evacuated tube solar thermal systems (wholesale price), this means that a product using flat plate panels will produce heat for far less per BTU than evacuated tube."
TEC is opening a new facility for manufacturing solar thermal panels and thermal storage tanks which will employ more than 50 individuals. The facility will be headed by engineer Brian Slack, who has won awards for increasing efficiency at an American Corporation's plant in South Western Ontario.
This will be the second OEM application for solar thermal equipment in which the coatings have been specified. Industrial Nanotech previously announced that their patented Nansulate(R) Solar thermal insulation coating will be incorporated into all new solar water heater systems by Asian manufacturer First Energy Solution to insulate and increase efficiency.
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 emerging as 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.
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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