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Home > Press > Industrial Nanotech, Inc. Enters Qatar Market - Sees Great Opportunities in Country With 14% of the World Total Natural Gas Reserves, Highest GDP Per Capita, and 15 Billion Barrels Proven Oil Reserves
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving solutions, today announced that the Company has entered into an agreement with Qatar Nanotechnology Company to serve as exclusive distributor in Qatar for Industrial Nanotech, Inc.'s patented NansulateŽ product line of thermal insulation and protective coatings. Qatar Nanotechnology is a distributor and service provider of nanotechnology based solutions to commercial, industrial, and residential customers in Qatar and the Gulf Region. Their management team owns numerous companies in the region and has a long-term track record of success.
"We look forward to expanding into this country with Qatar Nanotechnology Company," stated Francesca Crolley, V.P. Business Development for Industrial Nanotech, Inc. "Their management team has an excellent record of commercializing new technologies. Their Technical Director has worked for major U.S. companies including Nova Measuring Instruments, Philip Morris USA and Intel. Their President and CEO has 19 successful businesses ranging from cleaning services to construction services, which they plan to supply with NansulateŽ coating solutions. Qatar is a fast growing area, which is investing heavily into new housing and office buildings, as well as in new infrastructure and equipment and plants for the oil, gas, refining and petrochemicals sectors. We look forward to this being an important market for Industrial Nanotech."
Qatar has proved oil reserves of 15 billion barrels, which should enable continued output at current levels for 37 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, about 14% of the world total and third largest in the world. In 2010, Qatar had the world's highest GDP per capita, while the economy grew by 19.40%, the fastest in the world. The main drivers for this rapid growth are attributed to ongoing increases in production and exports of LNG, oil, petrochemicals and related industries. In 2009, Qatar was the United States' 5th largest export market in the Middle East, trailing behind the U.A.E., Israel, Saudi Arabia and Egypt. Qatar has attracted an estimated $100 billion in investment, with approximately $60-70 billion coming from the U.S in the energy sector. It is estimated that Qatar will invest over $120 billion in the energy sector in the next ten years.
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.
NansulateŽ 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 NansulateŽ 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, Faceook: 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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