Industrial Nanotech, Inc. Begins Shipment of Million Dollar Order to Distributor in Turkey
11 March 2008 - 11:23PM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology, today announced the shipment this week of
the first of ten containers of the Company�s patented Nansulate
energy saving protective coatings to Kolorgen, Ltd, the Company�s
distributor in Turkey. The product is being applied at the Denizli
Basma ve Boya Sanayii a.s. (DEBA) textile plant to reduce energy
consumption and protect against corrosion of equipment in their
textile facility, one of the region�s largest. The order will
continue to be shipped and paid for at a rate of one sea container
per month for the next ten months and the total order constitutes
$1,071,000.00 US in revenue to Industrial Nanotech, Inc. Dr.
Bilgin, President of Kolorgen Ltd, said, �At DEBA, the energy
savings is calculated to be a minimum of $1,000,000 USD per year.
Nansulate is definitely a revolutionary product and with the
current energy problems all over the world, it is the product to be
used everywhere possible.� Previous applications of Nansulate to
textile mills have been documented to produce significant
measurable energy savings. Examples are: Henateks, a large textile
company, used Nansulate� High Heat insulation and corrosion
prevention coating on its equipment. The application was completed
by April 2007 and the total decrease in natural gas costs for 2007
was 15.5%, which equated to a savings of more than $600,000 USD for
this facility. Now that the application is complete, total energy
savings is expected to be at least 20% annually. The cost of the
product and application paid for itself in seven months. Keyteks
Tekstil, another textile mill, used Nansulate� High Heat on their
heat exchangers and dyeing machines. This resulted in a reduction
by 25% in the amount of time used to heat three tons of water, a
process that the exchangers cycle through several times daily. The
reduction in cycle time provided increased productivity. This
facility achieved a minimum of 20% reduction in energy use
throughout 2007 and 10% reduction in unit material production cost.
Nansulate� also improved dye lot reproducibility (consistency in
the color of the dyed fabric) by increasing the equipment
temperature stability. �Our relentless step by step strategy of
creating a sales platform worldwide through our distributors and
independent representatives, combined with consistent contacts with
the media to educate the marketplace, continues to pay big
dividends in terms of the consistency of exponential revenue growth
for the past four years,� states Francesca Crolley, VP of
Operations and Marketing. �We look forward to continuing this track
record and providing real benefits for our customers and our
shareholders.� About Nansulate(R) Nansulate(R) is the Company�s
patented product line of specialty coatings containing a
nanotechnology based material and which are well-documented to
provide the combined performance qualities of thermal insulation,
corrosion prevention, and resistance to mold growth in an
environmentally safe, water-based, coating formulation. The
Nansulate(R) Product Line includes both industrial and residential
coatings. About Industrial Nanotech Inc. Industrial Nanotech Inc.
is quickly emerging as a global nanoscience solutions and research
leader. The Company develops and commercializes new and innovative
applications for nanotechnology. Additional information about the
Company and its products can be found at their websites,
(http://www.industrial-nanotech.com) and
(http://www.nansulate.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.
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