Industrial Nanotech, Inc. Announces Correction to City of Fairbanks Press Release
21 December 2009 - 11:00PM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets: INTK), an emerging
global leader in nanoscience solutions, today announced that the
Company’s original press release, dated Sept 29, 2009, regarding
the City of Fairbanks, Alaska intent to purchase Nansulate® from
the Company’s exclusive distributor in Alaska, Nanotech Energy
Solutions, Inc., evidently contained information which was provided
to the Company by Nanotech Energy Solutions, Inc., but which has
recently been discovered by the Company to be incorrect. The
current known facts are that City of Fairbanks, Alaska purchased 15
gallons of Nansulate® to test the product as a possible vapor
barrier, but has no plans for further purchases at this time.
“Despite correspondence and discussions by members of the
management of Industrial Nanotech, Inc. with both Nanotech Energy
Solutions, Inc. and the representatives of the City of Fairbanks,
Alaska who have been willing to make themselves available to us to
discuss this subject, we are as of yet unable to determine exactly
what occurred between Nanotech Energy Solutions, Inc. and the
representatives or employees of the city of Fairbanks, Alaska and
where the chain of communication broke down that resulted in our
receiving the information which we published in the earlier press
release regarding this issue,” stated Francesca Crolley, VP of
Business Development. “We take this very seriously, have acted in
an expeditious manner to determine and disclose the facts to the
best of our ability, and will continue to investigate this
situation until we determine exactly how this occurred and to make
sure it never occurs again.”
About Nansulate(R)
Nansulate(R) 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(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 Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and
research leader and member of the U.S. Greenbuilding Council and
the American Solar Energy Society. The Company develops and
commercializes new and innovative applications for nanotechnology
which are sold worldwide.
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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