NAPLES, Fla. — (BUSINESS WIRE) — March 12, 2012 — Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving and sustainable solutions is pleased to update its shareholders and supporters of recent activity and progress. The Company has been working diligently to cultivate several valuable sales channels, identify new markets and sources of revenue, and has produced tangible results including initial implementation and resulting installations for corporate and government projects.
1. Upgrading the energy efficiency of windows, especially in large older factories is becoming a very significant source or revenue for the Company. Older factories were built with “walls of windows”, which were effective at letting light in, but very energy inefficient. Applying the Company’s translucent Nansulate(R) Energy Protect is a cost effective solution that still lets the light in, but reduces heat transfer through the glass. As an example, a factory in Ohio utilized Nansulate(R) on their windows and the result was a real dollar energy saving amount equal to eight times the amount of their original investment in Nansulate(R) was achieved in the first four months subsequent to the application.
According to the U.S. Department of Energy, commercial and residential buildings account for nearly 40 percent of energy used in the U.S. With energy costs soaring, the green building materials industry has grown to $156 billion a year. With their coatings already being used on other areas of the building envelope - walls, roofs, ceilings, skylights - to reduce energy costs, the Company is aggressively pursuing factory windows in older buildings, as well as other building applications.
“Windows are one of the largest energy wasters in any building as they allow a great deal of heat transfer,” stated Francesca Crolley, VP Business Development for Industrial Nanotech, Inc. “There are thousands of factories and commercial buildings built with single pane windows, and building owners are finding that replacing these windows is cost prohibitive. Our technology offers an affordable and effective way for the existing windows to be insulated easily with a spray on application that can also be sprayed over frames to further reduce thermal bridging. Our Energy Protect coating allows through over 90% of the visible light, while reducing heat transfer and resulting energy costs, and also reducing UV light, which is desirable by museums trying to protect artwork from fading.”
2. The Company has expanded into the historical preservation and restoration market. Upcoming projects include a U.S. military museum and a New York State historic restoration project to install the Company’s clear lead encapsulation product, Nansulate(R) LDX. Additionally, the company has submitted an abstract to speak at the Annual Association for Preservation Technology International (APT) Conference held in September, to illustrate the benefits that nanocoatings can provide for preservation and restoration of historic sites.
3. Industrial Nanotech moved into the OEM market, including integration of the Company’s Patented Nansulate® coatings into building products. Application of Nansulate® by several large major customers to their products at the factory is expected to begin in the very near future and will substantially impact revenues.
4. A multi-year project with a Southeast Asian government is beginning by midyear, resulting in a high dollar volume marque project for resistance of mold growth and surface protection on a high profile building which is well known throughout the region and globally. This will add to the Company’s profile of providing multi-solution nanotechnology products which not only save energy, but perform a variety of other tasks, such as mold resistance, corrosion prevention, moisture resistance, UV resistance, chemical resistance and lead encapsulation.
5. One of the Company’s European distributors has been working with a major provider of rail transportation, who after completing initial testing, has approved a field study over several tunnels for Nansulate(R) coatings to trial the ability of the coating to prevent icicle formation in tunnels and overpasses in order to reduce train derailment due to ice dropping on rail tracks. This study is ongoing and expected to be completed in 2012.
6. The company has been presenting their nanotechnology based solutions to a number of fortune 500 companies and companies on the Dow Jones Sustainability Indexes over the past two years. Many of these companies have completed or are close to completing initial due diligence projects at U.S. based factories with the technology, and the Company anticipates several multi-plant projects beginning in 2012 and continuing into 2013 and beyond.
“We have been working diligently to replicate the model that we used with global textile manufacturer, Coats plc,” stated Ms. Crolley. “Initial due diligence projects for energy saving calculations were completed as a first step at two of their facilities, which then resulted in a global sustainability project with our Nansulate(R) coatings being used to insulate equipment in their factories throughout 28 countries. We have the ability to drastically reduce energy intensity in manufacturing with an extremely short payback period, and we have been taking that message to plants and factories throughout North America for the past several years. With the economy beginning to recover, we are seeing the fruits of those efforts begin to be realized.”
For further information on Nansulate(R) nanotechnology based coatings and sustainable solutions visit: www.nansulate.com.