NAPLES, Fla., Aug. 17, 2006 (PRIMEZONE) -- Industrial Nanotech (Pink Sheets:INTK), a company that specializes in nanotechnology innovation and product development, today announced that the company has signed a mutual non-disclosure agreement (NDA) with Pratt & Whitney at the request of BMW, Inc. The NDA allows Industrial Nanotech and Pratt & Whitney to share proprietary technologies during their collaboration.
Pratt & Whitney, a worldwide leader in the design, manufacture and support of turbine engines used in both civil and military aircraft, and BMW have a relationship dating back to 1928, when the two companies concluded a license agreement to build radial engines. Most recently, the two have worked together on the Phenom 100 light jet, a project for Brazilian airframer, Embraer.
Francesca Crolley, V.P. Operations & Marketing, commented, "We are excited about the opportunity to collectively assess potential uses of Nansulate on BMW's automobiles and other products. Recently, our CEO Stuart Burchill, who is the inventor of the technologies on which Nansulate is based, met with a representative of BMW at one of our research facilities regarding potential applications for our insulating and protective coatings. Upon subsequent review at BMW's German headquarters, the decision was made to take this next step. We look forward to working and expanding our relationship with both of these companies."
About Nansulate(tm)
Nansulate is a product line of water-based translucent insulation coatings containing a nanotechnology-based material. Nansulate PT is a direct to metal coating for pipes, tanks and other metallic substrates and Nansulate GP is a general purpose formulation designed for wood, fiberglass and other non-metal 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. The coatings' ability to resist mold, prevent corrosion and provide thermal insulation is well-documented.
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.
The Industrial Nanotech, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1701
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.