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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving solutions, today announced that the Company has entered the heat process equipment OEM market with a project to provide Nansulate® to an industrial boiler manufacturer for application on all new equipment manufactured by the customer. Nansulate® is the Company's patented product line of award winning, energy saving protective coatings 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. Revenues from this OEM deal are estimated to be approximately five million dollars annually.
"We have been very successful for many years at reducing the energy consumption of heat process equipment for our previous customers who insulated their existing in-service boilers with our coatings, resulting in Nansulate® generally paying it for itself in 12 - 18 months," states Francesca Crolley, VP of Business Development for Industrial Nanotech, Inc. "With these proven energy cost savings, plus the protective benefits that our coatings offer and their long-term durability, it was a natural progression for manufacturers of this type of equipment to begin to install it at the factory to make their products more energy efficient. This project is an important first step into the OEM market for energy efficiency of heat process equipment, including boilers, heat exchangers, steam traps, valves, distribution and return lines, and pressure reduction stations and is a valued addition to our other current OEM projects which include building materials and consumer goods.
Ms. Crolley continues, "Nansulate® provides solutions for insulating steam process systems and reducing related carbon emissions that is significant and long lasting. One of our textile clients reduced their liquid natural gas (LNG) consumption in 2007 & 2008 by 2,211,599 Standard Cubic Meters (Sm3), which was a cost savings directly attributed to Nansulate® insulation coatings of $852,437 USD. Their investment in the purchase of Nansulate® was $200,000 and installation cost was $100,000, therefore their payback period was only seven months. This represented a 20% reduction in energy use. Another manufacturing client who used the coatings on their steam process system components reduced their steam injection cycles by more than 50%, while improving product quality due to a more consistent process temperature. Yet another client who insulated their boilers, dye machines, and heat exchangers with Nansulate® High Heat recorded their reduction in LNG consumption and reported over a 20% decrease in energy consumption and an anticipated average savings per month of $40,000 US in energy costs."
For further information on Nansulate® Sustainable Coatings visit: www.nansulate.com.
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader and member of the U.S. Greenbuilding Council 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® 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, Facebook: www.facebook.com/Nansulate.
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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