NAPLES, Fla., May 18, 2012 (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
Nansulate(R) 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(R) 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.
SOURCE: Industrial Nanotech, Inc.
CONTACT: Industrial Nanotech, Inc., Francesca Crolley, US & Canada: 800-767-3998, International: +1 239-254-0346, Email: email@example.com