Industrial Nanotech Announces First $865,480 Purchase Order from EU Distributor, Nanotech Coatings Ltd.
BROOMFIELD, Colo., Jan. 4, 2022 /PRNewswire/ -- Industrial Nanotech Inc, (Pink Sheets: INTK).
Today, Industrial Nanotech announced that it has received the first Purchase Order from Nanotech Coatings Ltd., the Company's agent in the EU, in the amount of $865,480 US. This represents the beginning of the Company's sales to EU countries, all of which are working to meet the European Commission "Smart Finance for Smart Buildings" Initiative.
Stuart Burchill, CEO/CTO of Industrial Nanotech Inc. explains, "We have been working for most of 2021 to provide the certifications and independent third-party testing data required to be part of the EU program. Having successfully completed that process, it has been determined that our patented products are uniquely suited for this market. We are excited to see the first order come in and look forward to building this revenue stream to its potential of $45 million US annually by the end of 2022."
To address the issue of underinvestment in energy efficiency, revisions in 2018 to the Energy Performance of Buildings Directive 2010/31/EU and Energy Efficiency Directive 2012/27/EU, have strengthened the existing policy and financial framework. In line with these actions, the European Commission launched the Smart Finance for Smart Buildings Initiative. This initiative stresses the importance of more effective use of public EU funding and the need to de-risk energy efficiency investments in buildings. (Source: https://publications.jrc.ec.europa.eu/repository/handle/JRC117816 )
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and product development leader. See www.industrial-nanotech.com for more information.
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/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.
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