NAPLES, Fla., Mar 15, 2011 (BUSINESS WIRE) -- Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving solutions, today announced that the Company is starting multiple pilot projects with hospitals and universities throughout the U.S. to increase the efficiency of their steam processes through use of the Company's patented Nansulate® thermal insulation and corrosion prevention coatings.
"Previously, our focus has been primarily on heavy industry and, more recently, OEM projects," states Francesca Crolley, VP of Business Development for Industrial Nanotech, Inc. "The opportunity to introduce hospitals and universities, two very energy conscious and environmentally responsible entities, to the benefits of our award winning energy saving coatings has the potential to be a very substantial addition to our portfolio of markets served. We are currently working with several hospitals and 16 universities. Our success in industry with reducing energy consumption of steam process systems indicates that we can be of tremendous benefit to these markets."
According to the U.S. Department of Energy resource for "Heat Loss Per 100 Feet of Uninsulated Steam Line" from their Industrial Technologies Program Steam Tip Sheet, an uninsulated 4" diameter steam line of 2,000 feet in length, running at 150 PSIG can be losing 17000 million BTU's (MMBTU) per year. Using the February 2011 National Gas Prices average cost for MMBTU of $4.399, and DOE base calculations of 90% effective insulation and 80% boiler efficiency, the potential cost savings by insulating those steam pipes is $84,130.88.
Crolley continues, "As an official ALLY organization with the U.S. Department of Energy's "Save Energy Now" program, we make it a priority to help organizations reduce energy costs and have recently created two spreadsheet calculators based upon the DOE steam tables to help companies calculate the potential energy savings achievable by insulating steam pipes and steam valves. These can be found on our website at www.nansulate.com/free_energy_saving_assessment.htm. Our successful track record in the steam process applications speaks for itself. Use of our coatings on heat exchangers by Erenko Textile, who performed side-by-side trials on same capacity machines running a 60 minute cycle of 60 degrees C, reduced steam supply cycles from 24 injections over the 60 minutes down to 2 injections, reducing energy consumption by a minimum of 20% and providing an overall 10% reduction in unit material production costs. An application of Nansulate® EPX over a large steam line in a chemical manufacturing facility reduced their surface temperature from 302F down to a safe touch level of 100F with only 1/2" of insulation thickness and their problem with corrosion under insulation was also eliminated. Henateks Textile, a manufacturer for several large sports apparel companies, documented a 20% reduction in liquid natural gas consumption which was attributed directly to Nansulate® High Heat being used to insulate their steam process system. This resulted in a 2007 and 2008 cost savings of $852,437.00 US and a payback period of only 7 months. Our short payback period is one of the most attractive features of our energy saving technology and one that is of great interest to the universities and hospitals that we are working with. Many of them are looking to pay for these improvements with the energy saving dollars and further use them to fund future improvement projects. Our technology allows them to do that in the short term."
Industrial Nanotech continues their successful series of Sustainability Simplified™ Webinars with their next one titled "University Energy Saving Solutions" on Friday, March 18, from 1:00-1:30 p.m. Eastern Time. Registration can be done online at: https://www1.gotomeeting.com/register/841829208.
For further information on Nansulate(R) Sustainable Coatings visit: www.nansulate.com.
Nansulate(R) is the Company's patented product line of award winning, specialty coatings containing a nanotechnology based material and which are well-documented to provide the combined performance qualities of thermal insulation, corrosion prevention, resistance to mold growth, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes industrial, residential, agricultural and solar thermal insulation coatings. Additional information about the Company and its products can be found at their websites, (www.industrial-nanotech.com) and (www.nansulate.com). Blog: www.nansulate.com/nanoblog, Twitter: www.twitter.com/NanoPioneer, Facebook: www.facebook.com/Nansulate.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader and member of the U.S. Greenbuilding Council and an official ALLY organization with the U.S. Dept. of Energy "Save Energy Now" program. The Company develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Industrial Nanotech, Inc.