DETROIT, MI--(Marketwire - Nov 15, 2012) - Nano Labs Corp. (OTCQB: CTLE) is pleased to announce that it has been awarded a provisional patent number for a next-generation nano thermal insulation coating -- news which comes at what the Company believes is a very opportune time. Global growth for thermal insulation technology is predicted to grow, driven by international industry and governments sharpening efforts to foster and promote energy savings and safety in spheres crossing all borders, industry, and society. In 2014, the global paints & coatings market is forecast to have a value of $105.8 billion, an increase of 15.4% since 2009.
The new nano coating can serve as an insulation to reduce energy costs up to 40% -- particularly in hot and humid environments -- protecting against overheating, corrosion, microbial growth, some toxic substances, acid rain, rust, water, and oxidization, as well as ultraviolet rays harmful to structural materials over time. It may be directly applied to virtually any surface, from wood to metal, often without the need to remove existing coatings. It neither emits nor retains odors. And it is very affordable.
In terms of market potential for commercialization of the new nano coating, Nano Labs believes primary thermal insulation market growth will be found in North America, and particularly in the United States, which represents the largest regional market for industrial thermal insulation worldwide. The country's insulation market is expected to grow at more than 7% per year from 2012 through 2014. The company also has strong expectations for the equatorial market place in countries that don't have ready access to energy, and which could use nano coatings on rooftops to dramatically decrease indoor temperatures.
Overall, the product's attributes potentially bode well for a world in which insulation demand is forecast to increase at 5% annually in the years ahead. The market primarily will be driven by factors such as surging energy prices and the need to curtail cooling and heating costs through greater insulation efficiencies, increased plant refurbishments, and growing opportunities from niche markets. The construction industry demonstrates the clearest trend toward adoption of new technologies. Insulation-related demand covering both residential and non-residential markets is forecast to expand.
"We believe our unique nano thermal insulation coating promises significant savings in air-conditioning costs when our new product solution is applied as an exterior coating. As a 'radiant barrier', it has the potential to change the rate of heat transfer by reflecting the solar radiation that would otherwise be absorbed by the material underneath the coated surface. As a result, this material has the potential to reduce air-conditioning-related costs by as much as 40%," said Nano Labs President Mr. Bernardo Camacho.
"We are looking forward to testing with a variety of industry partners, distributors and government bodies. There is immense potential for this coating's application in industrial, commercial and residential settings worldwide," Mr. Camacho said.
About Nano Labs Corp.
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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