DETROIT, MI--(Marketwire - Dec 7, 2012) - Nano Labs Corp. (OTCQB: CTLE) is pleased to announce today that it will be moving forward to patent and commercialize the process of producing industrial diamonds using the Company's proprietary nanotechnology.
Nano Labs' proprietary nanotechnology will utilize tequila as an original precursor for the development of micro crystalline diamond thin films, a process offering an excellent alternative to producing industrial-scale diamond thin films for practical applications at a very low cost.
According to the World Diamond Council, an estimated US$13 billion worth of rough diamonds are produced per year. Industrial diamonds -- which comprise about 70% of diamonds -- are sold for industrial applications including cutting, drilling, grinding, and polishing in industrial applications.
"Diamonds are the hardest natural material known to man and the most effective heat conducting material, which also expands very little when subjected to high temperatures. This is unlike most other conducting materials, and diamonds are resistant to most acids and alkalis," said Dr. Victor Castano, CEO of Innovation at Nano Labs. "In addition to being a very low cost alternative to current synthetic diamonds used in traditional industrial applications, diamonds can be explored for use as semiconductors suitable for building microchips and other applications in electronics."
In 2011, total U.S. domestic production of industrial diamond was estimated to be 98.2 million carats, and the U.S. was one of the world's leading markets. The following industry sectors are major consumers of industrial diamond: computer chip production, construction, machinery manufacturing, mining services (drilling for mineral, oil, and gas exploration), stone cutting and polishing, and transportation systems (infrastructure and vehicles).
Stone cutting and highway building, milling, and repair consumed most of the industrial diamond stone. About 99% of the U.S. industrial diamond market now uses synthetic industrial diamond because its quality can be controlled and its properties can be customized to fit specific requirements. 1
"This innovative technology will allow Nano Labs to pursue several key licensing agreements in different sectors of today's marketplace," said Mr. Bernardo Camacho Chavarria, President of Nano Labs. "Our strategy makes investing in Nano Labs a diversified investment with the ability to generate revenues from different market sectors."
In 2011, China was the world's leading producer of synthetic industrial diamond, with annual production exceeding 4 billion carats. The United States is likely to continue to be one of the world's leading markets for industrial diamond into the next decade and likely will remain a significant producer and exporter of synthetic industrial diamond as well.
Owing to continued recovery from impacts of the economic recession on U.S. manufacturing sectors that utilize industrial diamond, U.S. imports in 2011 increased an estimated 37% compared with those of 2010. U.S. demand for industrial diamond is likely to continue in the construction sector as the United States continues building, milling, and repairing the nation's highway system. Industrial diamond coats the cutting edge of saws used to cut cement in highway construction and repair work. 1
1 According to the U.S.G.S. Mineral Commodity Summaries (January 2012)
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.
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