SOURCE: Nano Labs Corp.

March 16, 2015 11:10 ET

Nano Labs Announces Its Joint Venture Agreement With DerTek

DETROIT, MI--(Marketwired - Mar 16, 2015) - Nano Labs Corp. (OTC PINK: CTLE) is pleased to announce the Company has entered into a Joint Venture Agreement with DerTek to launch a research and development, marketing, and manufacturing program to produce Biofuels in North America. The Joint Venture will initially begin in Mexico.

DerTek is a technology-based company presently located in Mexico that has developed a novel technology highly effective as a catalyzer to produce Biofuels from organic oils using raw materials that do not compete with the food sector. DerTek BioFuels are made using oils coming from different crops like the "Castor Oil or Ricinus Communis plant." These oils are an excellent substitute for diesel fuel with a lower price and with additional benefits such as providing a remarkable reduction of polluting emission and reduction of maintenance costs of engines.

With a current capacity to produce more than 25 million liters of Biofuel per year, the company is facing a rapid growth phase and is considered a leading biofuels developer and manufacturer. This is due to the recently opened market resulting from the approval of the energetic reform undertaken by the present Government of Mexico.

DerTek was awarded as the First Place Winner at the International Prize for Innovation and Entrepreneurship in Mexico in 2014, as well as the First Place Winner of the Santander Bank Prize in the Entrepreneurship and Innovation category.

The Joint Venture Agreement outlines the establishment of a new corporate entity in the USA territory for the operational and funding requirements of DerTek. The new company will be responsible for developing, manufacturing and commercializing Biofuels. In accordance with the terms and provisions of the Joint Venture Agreement, DerTek will be 50% equity owner and Nano Labs will be 50% equity owner of this new corporate entity.

"With this Joint Venture, our goal is to bring value and new opportunities in the energy sector by developing and manufacturing better fuels at a lower cost and at an ecofriendly way at the same time reducing Carbon emissions," states Mr. Bernardo Chavarria, President of Nano Labs.

About DerTek
DerTek is a green technology company, dedicated to the production and commercialization of advanced biofuels by using feedstock that does not compete with the food sector. The company is a result of 5 years of research (BIODIMEX 2009-2013) and was founded in the firm conviction of benefit to the environment and society as well as providing new job opportunities in the agricultural and industrial sector. For more information, please visit. www.Dertek.com.mx

About Nano Labs
Nano Labs Corp. (CTLE) is a nanotechnology research and development company which began during October 2012, but is able to access resources that encompass nearly 30 years of research and development in nanotechnology as well as hundreds of peer-reviewed and published research papers and other scholarly material. The Company's research and development team of scientists, designers, and engineers is focused on creating a portfolio of advanced products that could provide benefits to a variety of industries including: (i) consumer products, (ii) energy, (iii) materials, and (iv) healthcare. Through the use and integration of proprietary nano compounds, our goal is to evolve common products into new, revolutionary products in order to make the world a better place. Nano Labs shares are traded on the OTC Bulletin Board in the United States under the ticker CTLE. For more information, please visit www.NanoLabs.us.

Forward-looking statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings with the OTC Bulletin Board or as a result of other factors.

Contact Information

  • Contact Nano Labs Corp.
    Bernardo Camacho Chavarria
    President
    1 (888) 806-2315