DETROIT, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. ("Nano Labs" or the "Company") (OTCBB:CTLE) is pleased to announce the development of the next generation of nano water proof coatings. The Company will be filing a patent application on this innovative technology. This marks another important milestone for the U.S.-based nanotechnology development company and for the execution of its coatings business strategy.
The Company believes that they have developed a path through which they may partner with industry to commercialize an innovative nano water proof hydrophobic and fire resistant product. As an important competitive advantage, the coating provides also water proof and fire protection at temperatures of up to 300 degrees Celsius.
Home fires damage about 400,000 homes, and cause just under 7 billion US dollars in direct damage annually in the United States, this product should be in every household in America.
The nano water proof and fire proof coating may be directly applied to virtually any surface, from wood to metal, and fabric often without the need to remove existing coatings. The product is a direct competitor to the water repellent Rust-Oleum Never Wet but with added fire resistant benefits.
The comparison between the products is listed below:
| Rust-Oleum Never Wet | Water Proof and Fire resistant nanocoating |
| Solvent based and toxic | 100% water based, with no solvent |
| 2 step, requires a base and then the final layer | One step: spray and dry |
| Due to solvents, substrate could eventually be damaged | No damage to substrate |
| Change of color or film on substrate | No discoloring |
| No fire retardant | Fire retardant |
| Retail Price: $25.99 per 510 grams | Retail price: $9.99 per liter |
"By manipulating matter at a very small scale, we are able to create a new chemical mixture in which the strengths of this mixture are exponentially greater than the sum of the parts," stated Dr. Castano, Chief Research and Innovations Officer, Nano Labs. "The process for the development of this Hydrophobic coating makes it commercially and economically viable for use across many household applications. We are looking forward to testing with a variety of industry partners, distributors and offer all retail channels a significantly more effective, more affordable, more environmentally friendly, and easier to use application than what is conventionally available by Rust-Oleum Never Wet. There is immense potential for this coating application in industrial and residential settings worldwide."
Mr. Bernardo Camacho, President of Nano Labs, stated, "The nano Liquid Repelling product can serve as a treatment preventing water, mud, ice from sticking to multiple surfaces such as Metal, Concrete, Wood, fabric, glass, vinyl, and plastic. Home fires damage about 400,000 homes, and cause just under 7 billion US dollars in direct damage annually in the United States, this product should be in every household in America. As a result, this material has the potential to reduce the risk of fire used as a spray in camp grounds on tents or in home applications on Christmas trees, curtains and furniture."
About Nano Labs Corp.
Nano Labs Corp. (the " Company") (OTCBB Ticker Symbol "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.