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Posted: November 14, 2007
Industrial Nanotech Announces Project With One of World's Largest Pipeline Companies
(Nanowerk News) Industrial Nanotech, Inc. (Pink Sheets:INTK - News), an emerging global leader in nanotechnology, announced today that the Company has started work with Socotherm, one of the world’s largest gas and oil pipeline coating companies, on applications for the Company’s Nansulate® product line of patented thermally insulating, corrosion and chemical resistant coatings.
“Our meetings last week at the offices of Socotherm with members of their technical, engineering, and manufacturing team resulted in the mutual agreement that there is a distinct need for the valuable and unique performance qualities of our coatings in ongoing projects they have in place and pending for their oil and gas customers,” states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. “A tour of one of their manufacturing facilities confirmed that the application of our coatings can be implemented within the framework of their existing processes, expediting the process of integrating our capabilities. We expect to be able to provide more specific details about the projects our coatings will be utilized for in the near future. This is the result of years of work to establish credibility for our coatings’ performance qualities in the demanding severe service environments of the highly regulated oil and gas pipeline construction industry. Combined with our upcoming project for Petrobras on approximately 250 kilometers of pipeline, this represents a significant breakthrough in that effort.”
The Socotherm Group is one of the largest suppliers of oil and gas pipeline coating and insulation services in the world and is the largest supplier to the Deep Water Industry. They operate facilities in Italy, Spain, Qatar, Brazil, Malaysia, China, Australia, Russia, the United States, Canada, Nigeria, Angola, Argentina, Venezuela, Mexico, and Algeria. Their customers include, among others, Exxon Mobil, BP, Petrobras, Total, and Chevron.
Nansulate® is the Company's patented product line of specialty coatings containing a nanotechnology based material and which are well-documented to provide thermal insulation, prevent corrosion, resist mold, chemical resistance, and encapsulate lead. The Nansulate® Product Line includes both industrial and residential 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.