Industrial Nanotech CEO & CTO Stuart Burchill Provides Shareholder Update

BROOMFIELD, Colo., Feb. 28, 2022

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.