DETROIT, Feb. 1, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce today the Company has signed a Letter of Intent with Resinas BYR for the manufacturing and distribution of the Company's NC2012, a proprietary nano thermal insulation paint coating.
The Letter of Intent outlines the establishment of a strategic alliance for manufacturing and distribution of the Company's proprietary paint coating under an industrial licensing agreement for the United Mexican States.
Both companies are currently working together to jointly facilitate the exchange of technical delegations to provide the necessary cooperation and training required to ensure the success of the venture.
"We are currently coordinating schedules for workshops to facilitate the technology transfer and enable a proper assessment of the requirements for inputs and processes to make the corresponding scaling up of the formulations and meet production standards," states Mr. Bernardo Chavarria, President of Nano Labs. "We are very excited about the prospects in Mexico. Resinas BYR is one of Mexico's premier paint and coatings producers with a production capacity of 394,000 gallons per month. Tapping into this pipeline in a turnkey scenario with both manufacturing and distribution is a winning partnership for us. This will allow us to enter the Mexican and US markets, and we expect to generate revenues in the next quarter."
"Of particular note in Mexico, the potential to reduce air-conditioning related costs by as much as 50% is a strong commercial driver. We are very excited about the prospect of commercialization in hotter climates, where in some marketplaces customers don't have ready access to energy, and could use the nano paint on rooftops to dramatically decrease indoor temperatures. The coating isolates temperatures outside of structures for the maintenance of pleasant inside temperatures. As well, the coating is an excellent waterproof protectant and fire retardant."
About Nano Labs' NC2012 Nano Paint
NC2012 is an insulating paint coating nanotechnology highlighted by its very low thermal conductivity. NC2012 reduces transmission of temperatures through the coated elements. It has a coefficient of thermal conductivity of K = 0,059 BTU / HR., which ensures coverage of a temperature spread of up to 18 ° Celsius, depending on the material to which the coating is applied. Even under the most extreme sunlight conditions, the coating can create a comfortable living environment.
NC2012 benefits include:
> Fire retardant, providing fire and heat protection at temperatures of up to 1,500 degrees Celsius
> Waterproof protectant
> Protects from ultraviolet (UV) and infrared rays (IR).
> Protects from acid rain
> Prevents the formation of fungi and bacteria
> Auto-wash properties with rain, keeping a shimmering white color
> Non- flammable
> Environmentally friendly
> Reduces corrosion and oxidation
> Can be applied on almost any surface
About Nano Labs
Nano Labs Corp. (CTLE) is a nanotechnology research and development company which began during October 2012, but is able to access resources that encompass nearly 30 years of research and development in nanotechnology as well as hundreds of peer-reviewed and published research papers and other scholarly material. The Company's research and development team of scientists, designers, and engineers is focused on creating a portfolio of advanced products that could provide benefits to a variety of industries including: (i) consumer products, (ii) energy, (iii) materials, and (iv) healthcare. Through the use and integration of proprietary nano compounds, our goal is to evolve common products into new, revolutionary products in order to make the world a better place. Nano Labs shares are traded on the OTC Bulletin Board in the United States under the ticker CTLE. For more information, please visit www.NanoLabs.us.
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Forward looking statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings with the OTC Bulletin Board or as a result of other factors.