NAPLES, FL, Nov. 14, 2007 -- Industrial Nanotech Inc., 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.
Industrial Nanotech Inc. is emerging as a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology.
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