Industrial Nanotech, Inc. Announces Update to INFONAVIT Qualification for Nansulate® Nanotechnology Based Insulation Technology
March 22 2010 - 7:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanoscience energy saving solutions, today announced an
update to their earlier release regarding the favorable report by
Mexico's CFE (Comision Federal de Electricidad, Federal Electricity
Commission) which qualified the coatings for a state run energy
efficiency credit program. Distribuidora Nano de America S.A. de
C.V., the company’s Mexican distributor, has now completed the next
step, which included the award of NOM 18 ENE, after successful
testing by accreditation laboratory, ONNCCE, for thermal insulation
values. They will next apply for the NOM 460C, which is expected to
be completed in approximately 4-6 weeks. After award of that
certification, first orders will begin for the green mortgage
program. Initial applications will be on roofs of homes to increase
energy efficiency and reduce energy costs. It is projected that
Nansulate® will initially be used for approximately 40% of the
market for this year (Total Market 400,000 units) which is near
160,000 units with approximately 4 gallons of Nansulate® to coat
the roof of each unit.
Last year Mexico’s CFE released a study they completed on the
company's patented nanotechnology-based insulating coatings,
Nansulate®. The study found that the coatings acted as an effective
insulator and provided significant energy savings during both day
time and night time hours. The findings of the study qualified
Nansulate® for the energy efficiency rebate program offered by
INFONAVIT, Mexico's state owned, and largest, mortgage
provider.
As the largest originator of residential mortgages in Mexico,
INFONAVIT authorized a credit system called Green Mortgage in
response to the recommendations of the General Assembly in Mexico.
The Green Mortgage program is aimed at improving the environment,
promoting the incorporation of sustainability criteria in the homes
that INFONAVIT finances, supporting the National Strategy for
Climate Change, and ensuring energy and water savings that will
make homes more affordable. According to Government statistics over
three years of administration, in spite of the economic crisis,
INFONAVIT has granted 1.4 million home loan credits to families. In
spite of believing that the economic crisis would completely halt
housing loans and sales, the organization is finishing 2009 with
450,000 new loans.
About Nansulate®
Nansulate® is the Company's patented product line of award
winning, 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, fire resistance, chemical resistance and
lead encapsulation in an environmentally safe, water-based, coating
formulation. The Nansulate® Product Line includes industrial,
residential, agricultural and solar thermal insulation coatings.
Additional information about the Company and its products can be
found at their websites, (www.industrial-nanotech.com) and
(www.nansulate.com). Blog: www.nansulate.com/nanoblog, Twitter:
www.twitter.com/NanoPioneer.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and
research leader and member of the U.S. Greenbuilding Council and
the American Solar Energy Society. The Company develops and
commercializes new and innovative applications for 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.
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