Industrial Nanotech, Inc. Launches New Smart Coating Subsidiary and Announces Plan to Partner With 300 Independent Sales Representatives To Sell First-To-Market, Patent Pending, Self Reporting Coatings in Over $2.5 Billion Industry
Rhea-AI Summary
Industrial Nanotech Inc (INTK) announced the launch of its new subsidiary, TakingPaint Inc., focused on self-reporting coatings designed for safety applications. The company aims to target hazardous conditions in industrial settings and expects revenues from these products to reach $96 million within three years, contributing to an anticipated industry standard. Stuart Burchill, CEO/CTO, emphasized the collaboration behind this initiative and the establishment of over 300 independent representatives in the US and partnerships in Europe.
Positive
- Launch of subsidiary TakingPaint Inc. focusing on self-reporting coatings.
- Projected revenue of $96 million from new products within three years.
- Collaboration involving over 300 independent representatives in the US.
Negative
- None.
News Market Reaction – INTK
On the day this news was published, INTK declined 3.92%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
GOLDEN, Calif., June 16, 2021 /PRNewswire/ -- Industrial Nanotech Inc (Pink Sheets: INTK), a company that specializes in nanotechnology innovation and product development, today announced the launch of a new subsidiary, TakingPaint Inc., to sell the Company's patent pending line of self reporting coatings.
"Our focus for TalkingPaint Inc is on safety and our products will provide an early warning signal of dangerous conditions before they become deadly," states Stuart Burchill, CEO/CTO of Industrial Nanotech Inc.
Mr. Burchill continues, "We are targeting very specific areas of plants, facilities and buildings and plan to work with a team of over 300 established independent representatives in the US and a multinational partner based in Italy to serve Europe. Additional international distribution partners are planned."
The Company anticipates the revenue from these new products to reach
Mr. Burchill concludes, "This initiative is the result of 16 years of hard work and a collaboration between some of the best business and science minds in the world. We are very confident in a successful outcome."
Watch for additional specific product details and markets served in upcoming press releases and at the company website, www.talkingpaint.com, to be fully completed in July 2021.
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research 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 or 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
What new subsidiary did Industrial Nanotech Inc (INTK) launch?
What is the expected revenue from TakingPaint Inc. products?
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