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Industrial Nanotech, Inc. (INTK 0.03, +0.00, +6.25%), an emerging global leader in nanotechnology based energy saving solutions, today announced that Coats plc, the world's largest manufacturer of thread and needlecraft supplies, has invested in Industrial Nanotech's patented Nansulate(R) thermal coatings.
Michael Schofer, Coats Chief Supply Chain Officer, said: "As a business we have an ongoing commitment to reducing our impact on the environment and continuously improving the working conditions in our facilities worldwide. Having comprehensively tested Nansulate coatings we found they significantly reduced process energy whilst standing up to the harsh environment of an industrial dye house. We anticipate the change will have a dual effect: reducing our process steam consumption by over ten percent - and therefore our carbon footprint by around two percent - and significantly improving the working conditions in our dye houses, which is great news for both our business and the environment."
Coats first began reviewing Industrial Nanotech, Inc's patented nanotechnology-based insulation coatings with an application done at their Bursa, Turkey factory. After a thorough review by their engineers of energy consumption data and energy saving performance, Coats contacted Industrial Nanotech, Inc. to move forward with the sustainability project to reduce energy consumption and increase their sustainability.
"We are honored to participate in Coats' global energy saving initiative," stated Francesca Crolley, VP of Business Development for Industrial Nanotech, Inc. "Their company heritage spans three centuries, during which they have consistently continued to be an innovator in their field. They are one of the first to rollout Industrial Nanotech's new 'Sustainability Simplified(TM)' platform, which provides manufacturers a simple way to reduce energy costs, lower carbon emissions, and become more sustainable. Our industry leading coating technology is easily applied to many types of equipment, such as dyeing machines, boilers, and steam pipes, as well as the building envelope, and in addition to providing thermal insulation, Nansulate provides corrosion prevention, mold resistance, chemical and flame resistance. We look forward to working with Coats to continue to reduce their environmental footprint and save money on their energy costs worldwide."
Crolley continues, "Coats' products are in everything from knitting yarns, to threads and zips for apparel and footwear; specialist thread for Major League baseballs to specially engineered threads used by NASA for parachutes and airbags. We are proud to work with them to bring further innovation to their prestigious company and assist their factories worldwide in reducing energy costs."
Further information on Nansulate(R) coatings for sustainable manufacturing visit. www.nansulateindustrial.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.
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.
About Coats plc
Established in 1755, Coats is the world market leader in industrial yarns and threads and consumer crafts. The company operates in more than 70 countries, with 73 factories and over 20,000 expert employees producing products for billions of consumers across six continents. Sales in 2009 were $1.4B.
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