Industrial Nanotech, Inc. Maintains Four Year Record of Triple Digit Year Over Year Revenue Growth Into Fifth Year Despite Global Economic Conditions
Naples, Fla. (PRWEB) October 1, 2008 -- Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that the Company continues to maintain its consistent record of triple digit revenue growth despite the current economic conditions.
"This year to date, the Company's annual year over year revenue increase is 174%," states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "The average annual year over year revenue growth from 2004 through 2007 is 184%. Our original business model of creating a worldwide presence in multiple diverse market sectors to create a consistently increasing revenue stream which supports the Company's infrastructure necessary for the execution of the longer closing cycle projects like our deals with Petrobras has proven to be sound."
Mr. Burchill continues, "Our longer closing cycle major projects continue to move towards fulfillment. In fact, we just completed a week and a half of meetings with a team from Petrobras' headquarters at our laboratory in NJ, the results of the meetings were positive, and we will be providing an update to this project as soon as we receive confirmation of several items the Petrobras team needed to discuss with their associates upon their return to Rio de Janeiro, Brazil, including their positive assessment of the performance characteristics of our new Nansulate EPX."
About Nansulate(R)
Nansulate(R) is the Company's patented product line of 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, and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes both industrial and residential coatings. Nansulate(R) EPX is the Company's newest addition to their patented line of nanotechnology-based coatings which has a four year track record of providing energy and cost saving solutions for industry and homeowners worldwide. Nansulate(R) EPX-4 is a water-based epoxy system that combines superior thermal insulation with excellent corrosion protection, chemical resistance, and flame resistance, making it a unique and powerful protective coating for a wide variety of industrial and commercial plant, equipment, and building applications. The coating can be applied from 1/8" thick to several inches thick. Additional information is available at www.Nansulate.com.
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.
SOURCE: Industrial Nanotech, Inc.
CONTACT:
For Industrial Nanotech Inc.
Investor Relations:
The Cervelle Group, LLC
Rob Karbowsky, 407-475-9966 ext. 227
rob@thecervellegroup.com
or
Media Inquiries:
The Cervelle Group, LLC
Tina Kuhn,
407-475-9966
tina@thecervellegroup.com
###
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