Industrial Nanotech, a Naples-based nanotechnology developer with research and manufacturing facilities across United States, launched a new product Nansulate that had immense potential to generate annual revenues of $5 million.
The Nansulate product developed by Industrial Nanotech is designed to serve as a protective cover for industrial boilers. The product is used not only to provide adequate protection for the machinery but also to lower the amount of heat needed for steam generation.
Francesca Crolley, vice president of business development, claimed that after the installation of Nansulate, one of its textile-producing clients saved around $850,000 over a two-year period and witnessed a 20% decline in natural gas usage. According to financial records, it has been estimated that Industrial Nanotech currently generates more than $1 million annually.