Industrial Nanotech Announces Project with Major Automotive Manufacturer in Asia - Outlines Additional NanoBoost(TM) Initiatives
June 18 2008 - 7:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology, announced today that its Chinese
distributor, NorthStar Power Engineering, has begun working with a
major Asian automotive manufacturer to trial the Company�s patented
NanoBoost� automotive parts coating for heat control and increased
fuel efficiency. �We are excited about the recent events in Asia
between our Chinese distributor and this well-known auto maker. We
believe we can meet their requirements and satisfy their objectives
in fuel and energy savings with our technology,� stated Francesca
Crolley, V.P. Operations & Marketing for Industrial Nanotech,
Inc. �We have recently finalized a new NanoBoost marketing
campaign. The time is right for a wider introduction of this
revolutionary product to manufacturers, major delivery and shipping
companies, automotive after market suppliers, and consumers.� Ms.
Crolley continued, �Other target markets for our fuel saving
technology are freight shippers, including the U.S. Postal service
and UPS. A recent news article by NBC affiliate KSL reported that
each time the price of gas goes up one penny, it cost the U.S.
Postal Service an extra $8 million a year nationwide. We are
working to demonstrate our ability to offset the impact of their
fuel price increases by increasing their vehicles' fuel efficiency
with use of our NanoBoost coating on these vehicles as part of our
continuing mission to utilize leading edge nanotechnology to offer
solutions to every day issues that save money and reduce energy and
fuel consumption rates with safe and environmentally friendly
products.� Gasoline prices averaged $4.082 June 16, up 35.7 percent
from a year ago, according to a report out Tuesday for week ending
June 14 from the International Council of Shopping Centers (ICSC).
It was the 12th consecutive week of record gasoline prices, the
ICSC report said. The retail group noted their monthly consumer
gasoline-price impact survey indicated discretionary spending on
non-essential items had been reduced by 69 percent of household,
the highest percentage since they began tracking the figure in
2004. About Nansulate(R) Nansulate(R) is the Company's patented
product line of specialty coatings containing a nanotechnology
based material, and which are well-documented to provide the
combined performance qualities of thermal insulation, corrosion
prevention, resistance to mold growth, lead encapsulation, chemical
resistance, and fire resistance in an environmentally safe,
water-based, coating formulation. The Nansulate(R) Product Line
includes industrial, residential, and automotive parts coatings.
About Industrial Nanotech Inc. Industrial Nanotech Inc. is quickly
emerging as a global nanoscience solutions and research leader. The
Company develops and commercializes new and innovative applications
for nanotechnology. Additional information about the Company and
its products can be found at their websites,
(http://www.industrial-nanotech.com) and
(http://www.nansulate.com). 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.
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