Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, today
announced that the Company has chosen a manufacturing, sales, and distribution
partner in China to capitalize on the country's growth and renewed interest
in energy efficiency.
As of May, 2009, China had already spent 230 billion yuan of the country's
4-trillion yuan (about 585 billion U.S. dollars) stimulus package, which was
unveiled in 2009 to protect the world's third-largest economy during the global
economic crisis, and ten percent has been directly invested in energy saving,
pollution reduction and environmental protection projects, according to China’s
National Development and Reform Committee (NDRC). The NDRC is China's top planning
“We have been working for several years to find the right business partner
in China,” states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc.
“That effort became more intense late last year as China began to invest
more heavily than ever into infrastructure, including an intensified effort
to curtail its rapidly rising energy consumption. The coating manufacturing,
sales, and distribution company we have chosen is well established, has been
successful for many decades, and owns multiple factories throughout China. The
company has a very substantial sales force and distribution channels throughout
China, is ISI 9001 certified, serves both the industrial and residential customers,
has an excellent reputation for both their products and customer service, and
is expanding rapidly to build more factories to serve this fast growing region.
The product will be sold under their company name, which is well known and highly
regarded throughout China, but it will still retain the Nansulate brand and
a reference to ‘Technology by Industrial Nanotech, Inc.’ and our
logo. This allows us the dual opportunity to brand our corporate name in China
while the product benefits from their company’s strong name recognition.
The name of the partner company will be released shortly prior to the release
of the product for sale in China later this year. ”
Mr. Burchill continued, “Additionally, while we respect the integrity
and honor of the company’s principals and management, they understand
that we have general IP concerns in this region and we have agreed to a relationship
where our IP is further protected by the fact that we will send them premixed
components under our own label which they will use to make the Chinese product.
It is a very desirable arrangement in a market that provides Industrial Nanotech,
Inc. with substantial additional revenue opportunities.”