Industrial Nanotech Inc Announces Expansion Into Railroad Tank Car Insulation
Industrial Nanotech (Pink Sheets: INTK) announced a partnership with a railroad tank car owner to provide thermal insulation for their tank cars. This agreement makes Industrial Nanotech the exclusive distributor to the railroad tank car industry globally. The initial focus will be on 9,300 cars, with a projected revenue of approximately $35,000 per tank car. The company aims to enhance efficiency by offering thinner, lighter insulation, allowing for greater cargo volume without increasing transport costs. To prepare for demand, they plan to hire three additional sales representatives by Q2.
- Exclusive distribution agreement with a railroad tank car owner.
- Revenue potential of approximately $35,000 per tank car.
- Initial focus on 9,300 cars opens significant market opportunity.
- Potential for insulation to pay for itself within weeks.
- Plans to expand sales team to handle demand.
- None.
BROOMFIELD, Colo., Feb. 14, 2022 /PRNewswire/ -- Industrial Nanotech Inc, (Pink Sheets: INTK).
Today, Industrial Nanotech announced that the Company has reached an agreement with a railroad tank car owner to provide thermal insulation for the tank cars they own and operate. They will also be the exclusive distributor to the railroad tank car industry globally. Additional details on the new partner will be disclosed in an upcoming joint press release.
The initial focus will be on 9300 cars. There are approximately 500,000 tank cars in the US. The revenue to the Company per tank car is approximately
"This is a market we are uniquely qualified to benefit," states Stuart Burchill, CEO/CTO of Industrial Nanotech Inc. "Railroad tank cars are limited by the Department of Transportation with regard to weight, length, width, and height. By replacing the existing insulation with a thinner and lighter insulation, we increase the volume and weight available for product carried per tank car, with no increase in cost per mile of transport distance. For this industry, our product will pay for itself in weeks."
To handle the anticipated large inquiry of demand, Industrial Nanotech is looking to hire three additional sales representatives by the end of Q2. Interested applicants can send resumes to answers@syneffex.com.
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.
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SOURCE Industrial Nanotech, Inc.
FAQ
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