NAPLES, FL--(Marketwired - Nov 7, 2016) - Industrial Nanotech, Inc. (OTC PINK: INTK), a global leader in nanotechnology-based energy saving solutions, today announces that the Company plans to sell its newest product line, designed for the home builder and homeowner market, to a major paint company.
"Over the past two years, I have met with executives of three of the top ten US national home builders (http://www.probuilder.com/2016-housing-giants-rankings), several of the largest major regional home builders, and high end custom home builders," stated Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "Based on those meetings and input we received, we recognized the need for a new type of house paint. We have created that product; a zero VOC exterior house paint, available in any color, which combines excellent UV resistance for increased lifespan, increased thermal insulation and energy saving performance documented by independent accredited laboratory testing, and the ability to resist growth of mold and mildew without using a moldicide."
Mr. Burchill continued, "We believe that the market for this product with regional and national home builders is too large for our Company to adequately serve, therefore we plan to spin off this product line to one the top ten US paint manufacturers with whom I have already had several preliminary meetings and who have expressed a strong interest in our coating technology."
The Company expects to complete a transaction for the new product line in the next six to twelve months.
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for sustainable manufacturing and buildings which are sold worldwide, including patented thermal insulation and asset protection coatings, which provide energy savings, thermal insulation, corrosion resistance, prevention of CUI, moisture resistance, UV resistance, chemical resistance, and other protective benefits. The coatings are low VOC, water-based, and sustainable.
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.