NAPLES, FL--(Marketwired - Mar 26, 2015) - Industrial Nanotech, Inc. (OTC PINK: INTK), a global leader in nanotechnology based energy saving solutions, today announced that it has received payment for, and shipped, a 1000 gallon order related to a project in the oil and gas industry. The $94,950.00 US order (retail value) was for the Company's patented High Heat insulation and corrosion prevention coating. This order follows another large order placed earlier this quarter for use in both the railway industry and oil and gas industry for $117,000.00 US worth of the same product.
"This continues our trend of growth and expansion in the oil and gas industry in the key oil producing regions," stated Francesca Crolley, VP of Business Development for Industrial Nanotech, Inc. "It's an important industry that we've been diligently working to serve with the solutions provided by our technology. Other customers we have helped with energy conservation and protection of valuable assets and equipment in the oil and gas industry include Galp Energia in Portugal for insulation and corrosion resistance of a pipeline and fuel oil storage tanks, Enap Sipietrol in Argentina for an offshore platform pipeline, and Sinopec in China for offshore fuel storage tanks. This newest customer significantly expands our footprint in this important market. We expect to see another 1500 gallon order from this new customer in the next few months, as well as from more new customers this year from the oil and gas industry."
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions research and development leader. The Company develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide, including their patented product line of award winning, specialty coatings containing a nanotechnology based material and which provide the combined performance qualities of energy savings, thermal insulation, corrosion resistance, prevention of CUI, moisture resistance, chemical resistance, and other protective benefits. Additional information about the company and its products can be found at www.inanotk.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.