Industrial Nanotech CEO & CTO Stuart Burchill Provides Shareholder Update

Rhea-AI Summary

Industrial Nanotech Inc (INTK) provided a shareholder update highlighting significant developments in revenue streams across various sectors and regions. Key milestones include securing a deal in Mexico with Grupo Energeticos for tank farms, finalizing shipping protocols with Lowes, and customizing a coating for Caterpillar's machinery. The company is also working on retrofitting railroad tank cars and establishing a partnership in the UK for energy-saving solutions. Additionally, preparations for a stock dividend are underway. CEO Stuart Burchill anticipates substantial revenue growth over the next 3-5 years.

Positive

• Finalized deal with Grupo Energeticos for tank farms in Mexico.
• Products to be carried by Lowes, with onboarding completion expected in March 2022.
• Customized coating for Caterpillar set to rollout in multiple locations globally, starting in Q2 2022.
• Plans to retrofit railroad tank cars with insulation to begin in Q2 2022.
• Strategic partnership established in the UK for energy-saving solutions.

Negative

• None.

BROOMFIELD, Colo., Feb. 28, 2022 /PRNewswire/ -- Industrial Nanotech Inc (Pink Sheets: INTK).  The Company's CEO/CTO, Stuart Burchill, provided the following information, "In the past five months, we have announced a series of substantial new revenue streams in different market sectors and geographical regions.  2022 is the year of turning revenue opportunities into revenues realized. The following is an update on many of our key initiatives."

Mexico: The trip to Mexico finalized the deal with the first tank farm customer and the tank painting contractor. In addition, it produced an unexpected second tank farm customer, Grupo Energeticos, a company with 24 tank farms and throughout Mexico.  We expect the first application of our solution in Q2 2022.

Lowes: The big box retailer we have been referring to is Lowes.  We are now in the finals stages of defining shipping protocols and the Lowes new supplier onboarding process. When these two items are completed in March, our products will officially be carried by Lowes online initially and will be available for in-store pickup and home delivery.

Caterpillar: We developed a customized corrosion protection coating for Caterpillar to provide protection for specific areas or the machines they produced. The first factory to use the product will be in North Carolina and Georgia and the rollout will continue over 2022 Q2 and Q3 to factories in Brazil, Japan, and to all 25 factories worldwide which manufacture approximately 180,000 machines annually. 

Railroad Tank Cars: We are currently working on the logistics of retrofitting existing tank cars with our insulation. We are currently designing a standard facility and determining the most centralized locations to establish facilities that will cause the least amount of travel time and downtime for the tank cars. We expect to begin application of our coatings to tank cars in Q2 2022.

European Union: We met with our team in the EU and the head of engineering and architecture for a retail chain that has 4500 stores. We have provided the technical data and are now preparing the specification standards.

Last week we finalized a strategic partnership in the UK with a long-standing firm that has been consulting UK based enterprise clients on energy savings solutions.  Mr. Burchill is scheduled to travel to the UK in March 2022 for meetings with this partner and potential customers.  We are already scheduled to meet with a company that provides energy saving solutions to Windsor Castle and Buckingham Palace.

Stock Dividend: The transfer agent has completed the process of moving the Company to DWAC FAST and DRS so that the stock transactions are now fully electronic and the process of issuing the previously announced stock dividend will soon be completed.

Mr. Burchill continues, "Although we are experiencing substantial growth and operating on all cylinders, we believe this is only the beginning of a very significant revenue burst over the next 3-5 years."

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.

 

View original content:https://www.prnewswire.com/news-releases/industrial-nanotech-ceo--cto-stuart-burchill-provides-shareholder-update-301491579.html

SOURCE Industrial Nanotech, Inc.

FAQ

What recent developments has Industrial Nanotech (INTK) reported?

Industrial Nanotech has reported new revenue streams and partnerships, including a deal with Grupo Energeticos in Mexico and product distribution through Lowes.

When can we expect products from Industrial Nanotech to be available at Lowes?

Products are expected to be available through Lowes online in March 2022.

What is the significance of the partnership with Caterpillar for Industrial Nanotech (INTK)?

The partnership involves a customized corrosion protection coating that will be applied in several factories worldwide, potentially increasing revenue.

What growth does Industrial Nanotech (INTK) anticipate in the coming years?

CEO Stuart Burchill anticipates a significant revenue burst over the next 3-5 years.

Is Industrial Nanotech issuing a stock dividend?

Yes, the company is in the process of issuing a previously announced stock dividend.