Industrial Nanotech, Inc. Announces New OEM Division and Deals
Industrial Nanotech, Inc. (INTK) has launched a new sales division focused on OEM deals, starting with RV manufacturers and targeting ambulance, firetruck, and cargo truck sectors.
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Rhea-AI Summary
Industrial Nanotech, Inc. (INTK) has launched a new sales division focused on OEM deals, starting with RV manufacturers and targeting ambulance, firetruck, and cargo truck sectors. This division aims to meet specific performance requirements outlined by industry experts. A new product version with a cure time under 60 minutes will cater to these manufacturers, improving manufacturing efficiency compared to the standard cure time of 2-3 hours. The company anticipates generating significant revenue from these contracts in Q4 2022 and will provide further details then.
Positive
- Creation of a new sales division focused on OEM deals.
- Initial OEM customers are RV manufacturers with expansion into ambulance and cargo truck manufacturers.
- Product development includes a new version with a cure time of under 60 minutes, enhancing manufacturing throughput.
Negative
- None.
Details
News Market Reaction – INTK
The recorded move for INTK in the trading session of this news was -1.90%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BROOMFIELD, Colo., Sept. 09, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – Industrial Nanotech, Inc. (Pink Sheets: INTK), a global nanoscience solutions and research leader, today announces the creation of a new sales division focused on OEM deals. The initial OEM customers are RV manufacturers. Near-term future customers are expected to include ambulance, firetruck and cargo truck manufacturers.
“Major manufacturers of these vehicles and industry experts gave us the guidance to perfect our product to meet their exact needs,” states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. “Our product exceeds all thermal insulation performance requirements for these vehicles as specified by the Ambulance Manufacturing Division (AMD) and the National Truck Equipment Association (NTEA) and offers additional benefits over conventional insulation, but for manufacturing throughput speed requirements they needed a cure time under 60 minutes instead of the 2-3 hour cure time of our standard EPX-H2O. We have created a version with a cure time of less than 60 minutes.”
The Company is currently creating OEM application protocol manuals for these new customers.
Burchill continues, “We look forward to supplying product for these OEM deals in Q4 2022 and adding another significant revenue stream to our portfolio of enterprise accounts and providing more details at that time.”
Industrial Nanotech, Inc. is a global nanoscience solutions and product development leader. See the following links 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 to reflect events or circumstances that may arise after the date of this release.
Investor Contact: Rodd Leeds
rodd.leeds@industrial-nanotech.com
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