NAPLES, Fla., Oct. 23, 2006 (PRIMEZONE) -- Industrial Nanotech, Inc. (Pink Sheets:INTK) today announced that Kolorgen, Ltd., an International distributor of the Company, has reached an agreement with one of the largest dyehouses in Turkey for the application of the Company's cutting-edge Nansulate coatings on all extreme temperature equipment.
The customer anticipates that it can generate a savings of approximately $40,000 a month in energy costs by using Nansulate throughout the facility. The dyehouse, located in the Trakya region of Turkey, manufactures products for clientele which includes two of the largest sports apparel manufacturers in the world. According to the agreement, Kolorgen will apply Industrial Nanotech's Nansulate High Heat throughout the factory on equipment such as LNG (Liquified Natural Gas) burners, dye machines, fabric drying and ranges, steam pipes, valves and hot water storage tanks.
"This is the first time we have undertaken a project of this magnitude," stated Dr. Vedat Bilgin, PhD, President of Kolorgen, Ltd. "Nansulate will be applied to all areas of the plant where they are experiencing a loss of heat. Previously we had very good results from another dyehouse in the same region, where we applied Nansulate only to the heat exchangers of the dyeing machines. We have been closely monitoring their consumption of LNG since April, and the last 5 months shows an energy savings of more than 20%. From this data and the scope of this new project in Turkey, we expect Nansulate to save them more than 20% of their $200,000 per month LNG energy costs," continued Dr. Bilgin.
"We are in the process of calculating the exact number of gallons that this project will use based on the number of coats required for each piece of equipment. Although we are uncertain of the exact order size, we are certain that this will constitute the largest single order for a factory to date," commented Francesca Crolley, VP of Operations and Marketing for Industrial Nanotech.
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. For more information about Nansulate, please www.nansulate.com.
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.