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Company's 1st Year Gross Revenue Estimate is $15,588,000 US Beginning July 2010
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanoscience energy saving solutions, announced today that the Company's patented Nansulate(R) thermal insulation and mold prevention coating has been awarded the NOM certification and is now part of the Green Mortgage program by INFONAVIT, Mexico's state owned and largest mortgage provider.
The NOM 018 ENER 1997, for which Nansulate(R) is now certified, is the Mexico Thermal Insulation Standard and is mandatory for all new construction.
INFONAVIT has included Nansulate(R) into the specification for worker's homes under this program to increase energy efficiency. They have projected that Nansulate(R) will initially be used for approximately 15% of the market for this year (Total Market more than 400,000 units) which is at least 60,000 homes. Industrial Nanotech, Inc. has been informed that the first orders for Nansulate(R) are expected to begin in July of 2010 and, based on these numbers, Industrial Nanotech, Inc.'s gross revenue in the first year will be $15,588,000 US.
Nansulate(R) was tested by ONNCCE, the nationally recognized Mexican Standards Organization, and successfully passed the testing for thermal insulation products and was awarded NOM certification. The certification process was undertaken by Industrial Nanotech distributor, Distribuidora Nano de America S.A. de C.V.
"With the successful testing and certification process now completed, we expect the market in Mexico to expand rapidly," explained Carlos Medina Erhard, President, Distribuidora Nano de America "We expect initial orders for that program to begin next month, July 2010. Additionally, with the official NOM 018 ENER 1997 government certification of the excellent performance of Nansulate(R) coatings to reduce energy costs and provide thermal insulation for homes and buildings, we expect the technology to be adopted by many other customers, including corporations and manufacturers looking for a cost effective product to reduce building heating and cooling costs and manufacturing process costs. Nansulate has also been designated as Energy Saver by C.F.E.'s (Federal Electricity Commission) Program for Energy Saving (P.A.E.S.E ). This allows commercial, industrial or residential building owners to receive financing for Nansulate(R) through the F.I.D.E Trust."
Francesca Crolley, V.P. of Business Development for Industrial Nanotech, Inc., stated, "We are looking forward to expanded market share in Mexico as a result of the product certification and further recognition worldwide of the performance of our technology. The insulation and energy saving benefits of our patented products have been verified and documented over the past 6 years in both laboratory testing and field studies in a variety of climates and countries and industries and market sectors. The product's adoption will continue to grow exponentially as countries like Mexico and others move to certify and promote the technology and its ability to reduce energy costs on a national scale."
As the largest originator of residential mortgages in Mexico, INFONAVIT authorized a credit system called Green Mortgage in response to the recommendations of the General Assembly in Mexico. The Green Mortgage program is designed to promote the incorporation of energy sustainability criteria in the homes that INFONAVIT finances, supporting the National Strategy for Climate Change, ensuring energy and water savings that will make homes more affordable and improve the environment. In a recent press release, Infonavit stated that Green Mortgages represented 33% of all the loans made by the fund during the first four months of the year.
Since the Green Mortgage program was launched in 2009, Infonavit has originated a total of 150,668 green mortgages for MXN 28.9 billion (USD 2.2 billion) and is financed by its lending operations, by mandatory employer contributions on behalf of the country's 14.4 million salaried workers, and by mortgage bonds. Infonavit plans to make between 475,000 and 525,000 mortgages this year.
The National Agency for Standardization and Certification of Building and Construction is known by its acronym ONNCCE. ONNCCE is a nationally recognized developer of standardizations and certifications in Mexico. The organization is currently accredited as a National Standards Body by the Directorate General of Standards of the Ministry of Economy, as a Certification Body by the Mexican Accreditation and is approved by the Ministry of Economy, Social Development Secretariat, the National Commission on Energy Saving and the National Water Commission as a Certification Body for quality Systems by the Mexican Accreditation.
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, the American Solar Energy Society, and an official ALLY organization with the U.S. Dept. of Energy "Save Energy Now" program. The Company develops and commercializes new and innovative applications for sustainable 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 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.
About Distribuidora Nano de America S.A. de C.V.
Distribuidora Nano de America is a manufacturer and distributor of coatings developed with nanotechnology. They represent important research companies from Europe and the United States. All their products are related to energy saving, water saving and anti-bacterial coatings. Nansulate(R) is their main product line and has proved to be an excellent energy saving and anticorrosion material. Additional information about the company can found at www.de-nano.com.mx.
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For Industrial Nanotech, Inc.
The Cervelle Group, LLC
Rob Karbowsky, 407-614-5959, ext. 227
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