DETROIT, Aug. 12, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce today the Company has signed a Non-Disclosure Agreement (NDA) with GMI of Mexico.
The NDA will allow GMI access to Nano Labs' proprietary nano coatings technologies for testing and product integration purposes by its wholly owned subsidiary CENTRO DE INNOVACIÓN E INVESTIGACIÓN DE SISTEMAS PARA LA EDIFICACIÓNY ENERGÍAS RENOVABLES, S.A.P.I. DE C.V. .
GMI's interest in Nano Labs' nano coatings products lie in the areas of insulating fire retardant, waterproof protection, and the proprietary anti-graffiti, self-cleaning paint.
"We are delighted to begin working together with GMI," states Mr. Chavarria, President of Nano Labs. "They are a leading provider of building turnkey projects in the residential, educational and Industrial sectors" with clients such as Wal-Mart, AeroMexico and Delta.
Concurrent to GMI's review and testing of the products, the companies are working together to establish a Joint Venture Agreement which would outline the strategic commercialization of these product lines. The Joint Venture would be designed to drive sales for both companies allowing Nano labs to leverage GMI's existing infrastructure, clientele, and distribution network.
About GMI Grupo
GMI Group is a leader in Mexico and Latin America providing infrastructure development for the educational, commercial, industrial and residential building markets. GMI is a Mexican consortium with companies that for more than 50 years has worked together and established themselves as a leading provider of building technology, products and services. With modern industrial equipment and machinery and the latest technology, GMI applies the most advanced production processes, achieving productivity and quality of the highest levels. GMI's Research and Development department evaluates new products in addition to prototyping building models. GMI is strategically located in the states of Querétaro, Jalisco, Nuevo Leon, Oaxaca and Chiapas, allowing easy access to major distribution centers in Mexico. For more information please visit http://www.gmi.com.mx/.
About The Paint Industry in Mexico
According to the National Association of Manufacturers of Paints and Inks (ANAFAPYT), Mexico is, after Brazil, the largest producer of paints and coatings in Latin America, with a reputation for high-end products and technology, and internationally recognized standards.
The coatings industry in Mexico produces over 720 million liters (figure for 2012) with a market value of approximately 2.541 billion USD, and whose per capita consumption of 5.6 liters represents one of the highest in the Latin American region. ANAFAPYT predicts that the industry can continue to grow when compared with similar economies such as Brazil, where per capita consumption is more than 8 liters.
"The local industry in Mexico is mature, yet despite being the largest producer in the Latin American region, there is a deficit in areas of specialty coatings," observes Mr. Chavarria, President of Nano Labs. "Currently Mexico imports annually an estimated $155 million of solvent-based paint and 75 million of water base, those are mostly associated with highly specialized and high-performance coatings. The consumer perspective is changing to see painting as investment that protects items, goods and property for longer. We believe there is a huge market opportunity for our products to produce and distribute locally which we are looking to develop long-term value on."
About Nano Labs' NC2012 Nano Paint
NC2012 is an insulating paint coating nanotechnology highlighted by its very low thermal conductivity. NC2012 reduces transmission of temperatures through the coated elements. It has a coefficient of thermal conductivity of K = 0,059 BTU / HR., which ensures coverage of a temperature spread of up to 18 ° Celsius, depending on the material to which the coating is applied. Even under the most extreme sunlight conditions, the coating can create a comfortable living environment.
NC2012 benefits include:
- Fire retardant, providing fire and heat protection at temperatures of up to 1,500 degrees Celsius
- Waterproof protectant
- Protects from ultraviolet (UV) and infrared rays (IR)
- Protects from acid rain
- Prevents the formation of fungi and bacteria
- Auto-wash properties with rain, keeping a shimmering white color
- Non- flammable
- Environmentally friendly
- Reduces corrosion and oxidation
- Can be applied on almost any surface
About Nano Labs
Nano Labs Corp. (CTLE) is a nanotechnology research and development company which began during October 2012, but is able to access resources that encompass nearly 30 years of research and development in nanotechnology as well as hundreds of peer-reviewed and published research papers and other scholarly material. The Company's research and development team of scientists, designers, and engineers is focused on creating a portfolio of advanced products that could provide benefits to a variety of industries including: (i) consumer products, (ii) energy, (iii) materials, and (iv) healthcare. Through the use and integration of proprietary nano compounds, our goal is to evolve common products into new, revolutionary products in order to make the world a better place. Nano Labs shares are traded on the OTC Bulletin Board in the United States under the ticker CTLE. For more information, please visit www.NanoLabs.us.
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Forward looking statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings with the OTC Bulletin Board or as a result of other factors.