Industrial Nanotech, Inc. Announces More Orders for Galp Energia Oil Refinery
May 18 2012 - 7:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology based energy saving and sustainable
solutions announced today that they have received an order of 2,150
gallons of the Company’s patented Nansulate® Translucent PT
insulation and corrosion control coating from Montaco, the
industrial contractor awarded the bid to apply Nansulate® on fuel
oil tanks at the Matosinhos refinery in Portugal owned by Galp
Energia. This total price of the order is $163,298 and is the third
order in the past 19 months for projects at the refinery covering
both fuel oil storage tanks and an oil pipeline for insulation and
corrosion prevention.
“Galp Energia continues to upgrade their Portugal refineries on
an ongoing basis and we look forward continuing to supply them with
Nansulate® Translucent PT,” stated Francesca Crolley, V.P. of
Business Development for Industrial Nanotech, Inc. “The fuel oil
storage tank project, which began with large applications of
Nansulate® last year, was paused during the winter season and is
continuing now that the warmer weather has returned. Nansulate®
industrial coatings provide a superior solution for insulation of
pipes, tanks and other equipment due to their excellent thermal
performance as well as combination of other qualities such as
corrosion prevention, moisture resistance, and ability to stand up
to the harshest of environments.”
Galp Energia SGPS SA, Portugal’s biggest oil company, has
activities that span from exploration and production of oil and
natural gas to refining and marketing oil products, natural gas
marketing and sales and power generation. Galp Energia processes
crude oil in its refineries at Sines and Matosinhos. These
refineries have currently a total refining capacity of 330,000
barrels of crude oil a day. Their activities are expanding strongly
worldwide and are predominantly located in Portugal, Spain, Brazil,
Angola, Venezuela, Mozambique, Cape Verde, Guinea-Bissau,
Swaziland, Gambia, East Timor, Uruguay and Equatorial
Guinea
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.inanotk.com) and (www.nansulate.com).
Blog: www.nansulate.com/nanoblog, Twitter:
www.twitter.com/NanoPioneer, Facebook:
www.facebook.com/Nansulate.
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.
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