Industrial Nanotech, Inc. Issues Oil and Gas Project Update
30 September 2013 - 2:00PM
Business Wire
Oil & Gas Sector Expands Applications of
Nansulate(R) High Performance Industrial Coatings For Energy Saving
& Corrosion Resistance in Asia, Middle East, and South
America
Industrial Nanotech, Inc. (OTC-PINK:INTK), an emerging global
leader in nanotechnology based energy saving solutions, today
provided an update on new and existing projects for the oil and gas
industry. Major companies in this sector are expanding the use of
the Company’s patented Nansulate(R) coatings, which combine thermal
insulation and anti-corrosion performance qualities and are proven
to provide long-term weather resistant protection and energy
savings when applied to storage tanks, offshore platforms, above
and underground pipelines and other refinery equipment. Projects
involve oil and gas companies in Asia, the Middle East, and South
America, as well as an equipment manufacturer for this
industry.
Asia: Subsequent to the Company’s announcement on July 1, 2013
about the completion of a successful trial of Nansulate(R) coated
on an entire fuel oil storage tank on an offshore drilling platform
in the East China Sea, the Company received a 300 gallon order to
be used by the manufacturer of these fuel oil storage tanks in
order to begin designing production methods to apply Nansulate(R)
High Heat to the tanks as a factory applied OEM coating for all
their customers.
Middle East: Nansulate(R) has successfully completed a year long
trial by a government owned oil and gas company in the Middle East
and the Company has been issued a formal invitation for a site
visit, the final stage of product approvals. The scheduled uses for
Nansulate(R) include insulation of storage facilities in extreme
climates and anti-corrosion solutions for oil and gas
pipelines.
South America: Nansulate(R) coatings have completed product
approvals by one of the largest oil and gas provider in this region
and field applications are beginning. Several products in
Nansulate(R) product line will be used and applications include
underground and above ground pipelines and other refinery process
equipment. The company expects to see projects with additional
companies in the region in the near future, based upon the positive
data received from other trials going on at this time.
“We are very encouraged by what is unfolding in the oil and gas
markets for our company and products,” stated Francesca Crolley,
V.P. Business Development, Industrial Nanotech, Inc. “We are now
seeing the results of many years of very hard work by our company
to establish credibility in this important global industry. Due to
the vital nature of the equipment and infrastructure that oil and
gas companies utilize, new product approvals typically are a long
and methodical process and we have been working on these projects
for years to get the point of actual implementation. Now our
coatings are being adopted by more corporations in this industry
and we look for that to positively impact our revenue numbers in
the near future, and more importantly, give this industry the
innovation that they’ve needed for a very long time.”
Additional details of projects and case studies can be found
at:
www.nansulatetestimonials.com
About Nansulate(R)
Nansulate(R) thermal insulation and asset protection coatings
provide energy savings, thermal insulation, corrosion resistance,
prevention of CUI, moisture resistance, chemical resistance, and
other protective benefits. The coatings are low VOC, water-based,
and sustainable. You can learn more about Nansulate coatings for
industry at www.nansulate.com/industry. Additional information
about the company and its products can be found at www.inanotk.com
and www.nansulate.com.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and
research leader and member of the U.S. Green Building Council. The
Company develops and commercializes new and innovative applications
for sustainable nanotechnology which are sold worldwide.
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.
Industrial Nanotech, Inc.Francesca Crolley, US & Canada:
800-767-3998, International: +1 239-254-0346Email:
investini@inanotk.com
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