Industrial Nanotech, Inc. Announces Large Order from Saudi Arabia Distributor for Company’s Patented Nansulate® Energy Sav...
09 February 2010 - 12:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanoscience solutions, today announced that the Company
has received a large order from Saudi Environmental Projects Ltd.,
the Company’s exclusive distributor for the Kingdom of Saudi
Arabia. This follows their previously placed initial order in
October of 2009 to introduce the coatings to the market and
generate energy saving projects. The order placed this week is for
more than 1,450 gallons of Nansulate® thermal insulation and asset
protection coating products, with a retail value of over
$131,500.00 USD.
“When we appointed Saudi Environmental Projects as our
representative in Saudi Arabia, we knew that we had chosen the best
possible representative for Nansulate energy saving technology in
the region,” stated Francesca Crolley, V.P. Business Development
for Industrial Nanotech, Inc. “This order is the result of all the
hard work and the substantial resources they have dedicated to
introducing Nansulate and its cost saving potential to the many
industries in their country. Their recent attendance at the Saudi
Oil, Gas & Petrochem exhibition held in Riyadh City in January
was a tremendous success and they were able to present the unique
energy saving benefits of the coatings to government officials,
representatives from ARAMCO and over 500 other industry
professionals and dignitaries who visited. We anticipate further
growth in the region as the technology gains widespread use and
acceptance as a product that provides effective thermal insulation
and protection of assets and equipment in a wide variety of harsh
environmental conditions and provides significant cost savings for
many seeking sustainable solutions.”
The Chairman of Saudi Environmental Projects, Ltd., HRH Prince
Abdullah bin Mosaad Bin Abdulaziz Al-Saud, is one of the Kingdom's
most prominent businessmen and industrialists. He is the founder
and chairman of the largest paper manufacturing and processing
paper industrial facilities outside the USA, Europe and Japan. He
is the Chairman and CEO of The Saudi Paper Manufacturing Group,
which includes the Saudi Paper Manufacturing Company, the Saudi
Recycling Company, and the Saudi Company for Environmental
Enterprises.
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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