Oct 24 2007
Industrial Nanotech, Inc., an emerging global leader in nanotechnology, announced today that Kolorgen Ltd, the Company's exclusive distributor for Turkey, has signed a contract with Denizli Basma ve Boya Sanayii a.s. (DEBA), one of the region's two largest garment manufacturers, to purchase 10,000 gallons MOL ($799,500 US Retail) of the company's patented Nansulate(R) High Heat coating to reduce energy consumption and protect against corrosion of equipment in their textile facility. The final total volume of the sale may increase depending on coverage rate obtained by the contractors applying the coating. Kolorgen Ltd will be the contractor for the project and delivery of product is scheduled to begin before the end of 2007 and continue at a rate of 1000 gallons per month until the end of the project.
"After the successful implementation of Nansulate (in prior textile factory applications), major textile companies have started to show real interest in Nansulate," explained Dr. Vedat Bilgin of Kolorgen. "We are currently negotiating with some of Turkey's biggest textile companies, and hope to finalize all these (additional) deals before the end of the year. At DEBA, the energy savings is expected to be a minimum of $1,000,000 USD/year." Dr. Bilgin continues, "Nansulate is definitely a revolutionary product and with the current energy problems all over the world, it is THE product to be used everywhere possible."
DEBA, located in the Denizli region of Turkey, has earned a reputation as one of Europe's most modern and high tech textile companies. Since their inception in 1973, they have grown to an annual capacity of 35 million meters of fabric, exporting 85% of their production to the US, UK, Belgium, Netherlands, Germany, Italy, Sweden, Spain and Portugal.
"We continue to be impressed with the progress made by Kolorgen in expanding their market share for our Company's Nansulate product line in the burgeoning field of energy savings," comments Francesca Crolley, VP of Operations and Marketing for Industrial Nanotech, Inc. "DEBA's current monthly natural gas consumption is approximately $400,000 US per month. Nansulate should bring a minimum reduction of 25% at this plant. The use of our patented line of Nansulate coatings by industry and homeowners continues to have a growing impact on reduction of energy use and accompanying carbon emissions around the world."
Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. states, "This contract, the recent increase in large shipments to Europe, the Middle East, and Asia, as well as other pending major international deals, are a testimony to Industrial Nanotech's original strategy of aggressively expanding our presence into a wide variety of countries and market sectors around the world in order to protect the security of our overall revenue growth rate from the impact of economic downturns in any particular geographical region, country, or industry sector. In this era of rising uncertainty, we are well positioned to continue to capitalize on the most certain need of industry and consumers to save money by conserving the amount of energy they use and increase the functional lifespan of plant and equipment by protecting against corrosion and thermal stress."