NAPLES, Fla., Dec. 19, 2006 (PRIME NEWSWIRE) -- Industrial Nanotech, Inc. (Pink Sheets:INTK), a company that specializes in nanotechnology innovation and product development, today announced that the Company is adding new distributors in the countries of Italy and Slovenia, increasing its international list of Nansulate distributors as well as the company's presence in Europe.
Aktarus s.r.l., based in Italy, is expected to enter into a distribution agreement with the Company in the coming weeks and has already placed a preliminary stock order. Aktarus currently handles approximately 60% of the thermal insulation business in Italy where it plans to initially market Nansulate before expanding to the United Arab Emirates and Southeast Asia. The company works in all areas of thermal insulation serving the Oil & Gas, petrochemical, HVAC, refrigeration, industrial, pharmaceutical and shipbuilding industries as well as the military.
MARMO d.o.o., based in Slovenia, has entered into an exclusive distribution agreement with Industrial Nanotech and placed an initial stock order for Nansulate. MARMO plans to work with the world's largest linoleum producer and market Nansulate through trade shows and customer relationships throughout Eastern Europe.
These initial stock orders, in addition to recent orders Industrial Nanotech has received from its UK and Turkish distributors, show a recent, marked increase in the demand for Nansulate in Europe.
"We are excited to expand our base of European distributors and experience a surge in the demand for Nansulate overseas. It is important to continue expanding our worldwide network while maintaining our current focus of closing business with very large multinational companies that should have a tremendous bottom-line impact beginning in 2007. Both of these companies are very successful in their respective geographic and industrial markets and we anticipate that their established business and customer relationships along with their networking capabilities will facilitate Nansulate's success," stated Francesca Crolley, Vice President of Operations and Marketing for Industrial Nanotech.
About Nansulate(tm)
Nansulate is a product line of water-based translucent insulation coatings containing a nanotechnology-based material well-documented to provide thermal insulation, prevent corrosion and resist mold. The entire Nansulate Product Line includes: Nansulate GP, Nansulate PT, Nansulate Chill Pipe, Nansulate High Heat, Nansulate HomeProtect ClearCoat and HomeProtect Interior, and Nansulate LDX.
Nansulate GP is a general purpose formulation designed for wood, fiberglass and other non-metal substrates and Nansulate PT is a direct to metal coating for pipes, tanks and other metallic substrates. Coatings that target extreme industrial environments include Nansulate Chill Pipe designed for low temperature applications on pipes and tanks and Nansulate High Heat designed for high temperature applications. Nansulate HomeProtect ClearCoat and HomeProtect Interior are designed for residential and commercial buildings and Nansulate LDX is designed for lead encapsulation applications.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology that address real-world needs through its funding of and participation in research with world-leading scientists and laboratories, including the U.S. Center for Integrated Nanotechnology (CINT) and Princeton Polymers Laboratories, Inc. For more information about Industrial Nanotech, Inc., please visit www.industrial-nanotech.com.
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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.