Big order for nano insulation company Industrial Nanotech

Shares of Naples, Florida-based Industrial Nanotech (Pink Sheets: INTK) are up almost 25% today after the company announced a large initial order for one of its thermal insulation and corrosion protection products.

Petrobras (NYSE: PBR), the Brazilian oil and gas giant, has requested production of 50,000 gallons of the company's Nansulate® High Heat coating.

The order is worth more than $3.7 million USD and is scheduled for delivery in June.

The nanotech-based liquid Nansulate material, when fully cured, contains approximately 70% Hydro-NM-Oxide and 30% acrylic resin. It dries to a thin layer and provides exceptional insulation, corrosion protection, prevents condensation, and prevents rust, the company said.

“[Petrobras requested we] develop a specialty product for a 105-mile pipeline project in Brazil. We have invested substantial resources into developing that specialty product for them and we are pleased that they have reciprocated by identifying applications for our Nansulate coating products in their facilities,” said Stuart Burchill, CEO of Industrial Nanotech.

The company anticipates being able to deliver the material in the requested time frame.

Petrobras apparently plans to apply Nansulate to more than 50,00 square feet of surface area per day.

Petrobras, short for Petroleo Brasileiro S.A., is a government-owned Brazilian oil company that is one of the 15 largest oil companies in the world, leading the oil and gas sector in the development of the most advanced deepwater and ultra-deep water technology for oil production.

Industrial Nanotech is a new global nanoscience solutions and research company that develops and commercializes new and innovative applications for nanotechnology.

Nanotechnology is starting to find considerable use as an insulator. See the Cleantech Group's Nanotech starting to gel, and Nanotechnology reduces carbon, says report.

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