TAIAN CITY, Shandong, China, Aug. 14 /Xinhua-PRNewswire/ -- China Nanotech, Inc., formerly Zeolite Exploration Company (OTC Bulletin Board: ZXPL), a leading nano precipitated calcium carbonate (NPCC) and coal-based chemical products manufacturer in the People's Republic of China ("PRC"), today announced the opening of its new advanced NPCC factory in Xianyang City, Shaanxi province. The new factory will employ China Nanotech's proprietary technology, co-developed with China's Tsinghua University, which significantly reduces the cost of producing NPCC, while enhancing the product quality and range of applications for which this versatile nano-scale material can be used. China Nanotech is a leading manufacturer of NPCC and specialty chemicals in the People's Republic of China, who is the only company listed on foreign stock market in the nano material production industry in China, as well as the only company in China currently supplying NPCC to the domestic Chinese tire market. The new facilities at the Shengda Industrial Park in Xianyang City are planned in three phases. The industrial park occupies 500 Chinese acres (333,000 sqm), and the first phase of expansion is expected to cost approximately RMB200 million, while increasing the Company's annual capacity for NPCC by 60,000 tons once operations are fully scaled up. If completed, the third phase of construction at Shengda Industrial Park is expected to take production capacity to 1 million tons of NPCC per year. The new factory will employ China Nanotech's proprietary breakthrough Membrane Diffusion technology developed in collaboration with Tsinghua University in China. The Membrane Diffusion process offers significant advantages over both the traditional manufacturing method for NPCC and the more advanced "Ultra-Gravity" technology. Like the "Ultra-Gravity" process, the Membrane Diffusion process significantly increases production efficiency and stabilizes the grain size of NPCC, so as to enhance product quality. However, the Membrane Diffusion technology significantly reduces production costs as compared to the high-cost Ultra-Gravity process, while also improving quality control and consistency. "China Nanotech's new Shaanxi factory is the first industrial application of the breakthrough Membrane Diffusion method for NPCC production in the world," said Mr. Xiangzhi Chen, President, CEO and Director of China Nanotech. "By adopting this technology, we expect to realize a significant competitive advantage in the burgeoning global market for NPCC. We have already successfully tested the product in applications including tires, rubber, plastic and coating, and believe this will give us a platform to develop exciting new applications for this versatile nano-scale material." The Membrane Diffusion process results in a desirable narrow grain structure of within 30-60 nanometers with stable product quality, while also enhancing the usage of carbon dioxide. As compared to other approaches, the production process has the characteristics of a compact structure, primarily using non-moving parts, stable operations, strong elasticity, low energy consumption, and low production costs. About China Nanotech Inc. China Nanotech, Inc. is engaged in the business of manufacturing, marketing and selling a variety of nano precipitated calcium carbonate ("NPCC") products and coal-based chemicals for use in various applications. China Nanotech converts limestone into NPCC using its proprietary technology. The unique chemical and physical attributes make NPCC a valuable ingredient in tires, polyvinyl chloride ("PVC") building materials, paints and other products. It enhances the durability of many products by increased strength, heat resistance, and dimension stabilization. China Nanotech is also engaged in the manufacture and sale of coal based chemical products namely ammonium bicarbonate, liquid ammonia, melamine and methanol. China Nanotech markets and sells its coal-based products mainly for chemical fertilizers and raw materials in the production of organic and inorganic chemical products, including formaldehyde and pesticides. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the tire industry, changes in composition of tires, pricing and demand trends for the Company's chemical products, changes to government regulations, risk associated with operation of the Company's new manufacturing facility, risk associated with large scale implementation of the New NPCC manufacturing process, the ability to attract new customers, ability to increase its product's applications, ability of its customers to sell products, cost of raw material, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. 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SOURCE China Nanotech, Inc.