Industrial Nanotech Welcomes Back Pemex

Rhea-AI Summary

Industrial Nanotech Inc. (OTC Pink: INTK) announced a request from Pemex for specifications related to a tank project involving 3,600 gallons, valued at approximately $622,800 before discounts. The company has a successful history with Pemex, having previously supplied products for offshore drilling platforms. CEO Stuart Burchill noted that Pemex will now be managed as an in-house Enterprise Account, enhancing direct communication and operational efficiency. This new project could strengthen the long-term relationship between the two entities.

Positive

• Secured a $622,800 tank project request from Pemex.
• Established Pemex as an in-house Enterprise Account, improving direct relationships.

Negative

• None.

BROOMFIELD, Colo., May 05, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – Industrial Nanotech Inc, (OTC Pink Sheets: INTK), a global nanoscience solutions and product development leader, announces today that the Company received a request for a specification for a tank project from an existing customer, Pemex. The total number of gallons is 3,600 and the retail price for that product volume is $622,800 before standard volume discounts. The requested documents were submitted yesterday.

Stuart Burchill, CEO/CTO of Industrial Nanotech Inc., explains: “Pemex has used our products successfully before so we expect the relationship to be successful yet again. One of the prior Pemex projects used our High Heat product on large valves on one of their offshore drilling platforms and is featured in our Oil & Gas product literature.”

View document here: https://syneffex.com/wp-content/uploads/2021/02/Syneffex_Sustainable_Oil_and_Gas_Solutions.pdf

“When we worked with Pemex previously, it was through our Exclusive Distributor in the region. When that company closed, we lost our contacts. Pemex is now an in-house Enterprise Account and will be managed by our sales and operations team,” Burchill concluded.

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.

Related Links

http://www.industrial-nanotech.com

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FAQ

What is the significance of the $622,800 tank project for INTK?

The $622,800 tank project signifies a substantial order from Pemex, indicating strong customer demand and potential revenue growth for Industrial Nanotech.

How does the relationship with Pemex impact INTK's future?

The renewed contract with Pemex allows INTK to strengthen its position in the market and ensures a direct line for future projects, potentially leading to more business opportunities.

What previous work has INTK done with Pemex?

INTK previously supplied products for Pemex's offshore drilling projects, demonstrating a history of successful collaboration.

What is the stock symbol for Industrial Nanotech?

The stock symbol for Industrial Nanotech is INTK.