NAPLES, Fla., Jan. 26, 2007 (PRIME NEWSWIRE) -- Industrial Nanotech, Inc. (Pink Sheets:INTK), a company that specializes in nanotechnology innovation and product development, today announced the receipt of a purchase order from JatroDiesel for its thermally insulating, anti-corrosive nanotechnology-based coatings to be applied in biodiesel refineries.
JatroDiesel, an Ohio-based biodiesel equipment manufacturer and producer has clients worldwide. The company purchased its initial order of Nansulate, www.nansulate.com, for application on holding tanks, pipes and other equipment at the newly opened Michigan Biodiesel (MBD) facility. The refinery started production in November 2006 and has a capacity of 10-million gallons per year. The application of Nansulate on equipment in the MBD facility will provide thermal insulation, prevent corrosion and reduce energy consumption.
"The consumption of biodiesel fuels in the U.S. has been increasing exponentially since 2004 and is continuing to grow at a dramatic rate. By working with JatroDiesel, Industrial Nanotech is in a unique position to penetrate the Biodiesel industry on a grand scale because our Nansulate coatings provide a superior insulation and corrosion solution in refineries and plants, particularly in severe service environments," stated Francesca Crolley, Industrial Nanotech's VP of Operations & Marketing. "We expect the biodiesel market for Nansulate to develop in the same manner that the textile industry did where its application began with one textile plant in Turkey before expanding to textile plants throughout the entire country followed by China and the United States," added Ms. Crolley.
Recent legislation has called for enhanced Renewable Fuels Standards that would include more widespread use of biodiesel and other alternative fuels. Biodiesel production in the U.S. is expected to reach approximately 750 million gallons per year in 2007. To meet this demand, over fifty new, larger-scale plants are in construction and are expected to come online between late 2006 and 2008. Industrial Nanotech will market its Nansulate line of coatings to these refineries and facilities through relationships such as the one with JatroDiesel and direct marketing to the refineries.
About Nansulate (TM)
Nansulate is a patented product line of water-based translucent insulation coatings containing a nanotechnology-based material well-documented to provide thermal insulation and lead abatement, 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 and NanoBoost.
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.