NAPLES, Fla., Nov. 3, 2005 (PRIMEZONE) -- Industrial Nanotech Inc., (Pink Sheets:INTK), an emerging nanotechnology-based solutions provider, today announced that the Company's Nansulate(tm) Translucent coatings are in the final stages of the review process by UK-based Bodycote Materials Testing, at the request of BP Exploration Operating Company Ltd., a subsidiary of British Petroleum (BP). BP's independent materials testing agent is determining the coatings' suitability for the replacement of traditional methods of thermal insulation used on pipelines.
Nansulate(tm) Translucent coatings have successfully completed three of the four phases of the evaluation process. Bodycote Materials personnel have traveled from the UK to the Company's polymer research facilities, Princeton Polymer Laboratories, in order to observe the application process which is the final phase of evaluation. In this phase, Bodycote will study the ease of application and application limits of the Company's coatings.
Stuart Burchill, Chief Executive Officer of Industrial Nanotech, stated, "We are very pleased to be at the stage of BP's evaluation process where they are determining ease of application which is one of Nansulate(tm) Translucent's strengths. We are confident that Bodycote will be impressed with the simplicity of our application process and will recognize the significant cost savings associated with that. The ease of application is one of the many advantages of Nansulate(tm) as it is a one part water-based coating. This means that it does not require any special or additional maintenance crews, saving considerable amounts of time and expense when compared to a majority of inferior coatings or processes available."
The intent of the overall evaluation and application is to mirror the coatings' performance in both inshore and offshore environments. More specifically, the coatings have been tested for effectiveness in providing insulation as well as resistance to corrosion under insulation, permeability of moisture, aging and thermal expansion.
BP Exploration Operating Company is the holding entity for several of the exploration and production subsidiaries of energy giant BP. The group is one of the largest operators in the oil-rich North Sea, which holds up to 30 billion barrels of resource potential. The group also has operations in Vietnam, where it is the project operator of Nam Con Son Development, the largest foreign investment project. BP Exploration Operating Co.'s partners in the project are Vietnam Oil and Gas Corporation (PetroVietnam), ConocoPhillips, and India's ONGC Videsh.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. produces and sells high performance coatings primarily designed for the heavy industry, manufacturing and shipping markets. The Company conducts nanoscience-related research in advanced materials and industrial applications at facilities in New Mexico, Colorado, and New Jersey. Products are available directly from the company or through a rapidly growing worldwide network of exclusive distributors. Industrial Nanotech currently has distributors in countries throughout the world including Australia, Canada, Mexico, Japan, China, Korea, Norway, Columbia, Argentina, and Brazil.
For corporate and product information, please visit www.industrial-nanotech.com.
The company logo for Industrial Nanotech Inc. is available at: http://www.primezone.com/newsroom/prs/?pkgid=1701
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.