EL PASO, Texas, June 14, 2006 (PRIMEZONE) -- Nanoforce, Inc. (Pink Sheets:NNFC), a developer of nano-materials, new refining processes and equipment for use in new and existing energy sector technologies, announced that the Company has completed its acquisition of Clemco Industries Inc., a leader in providing environmentally preferred bioremediation services to the restaurant and food processing industry in Vancouver, Canada.
At Clemco's 12th Annual General Meeting held on June 7th 2006, Mr. Peter Yew, the newly appointed President announced that the Company would launch its proven and highly acclaimed business model in the United States before the end of the current year.
Mr. Peter Yew declared, "We are targeting 20% of the estimated $975 million per annum American pie. Once we have built a successful licensed network there, we will go onto the Asian market. We are going to add water reuse capability to our services, which will make a huge impact in places like water-scarce Beijing where restaurants are shackled with permanent water rationing."
Clemco sales in FY2005 were up 13.5% over FY2004 at $1,054,144 and gross profit was 60% higher than that recorded in FY2004, prior to a $79,452 one-time charge for franchise development expenditures. Interim financial results for FY2006 YTD April 2006 indicate that Clemco is on track to another profitable year with annual revenues topping $1 million.
About Nanoforce, Inc.
Nanoforce is engaged in the research, development, acquisition and commercialization of advanced materials science products and processes including nanotechnology. Nanotechnology is the science of building and manipulating materials, devices and processes on the scale of atoms and molecules (one billionth of a meter). According to market research, it is estimated that worldwide revenues from products using nanotechnology will increase to $2.6 trillion in 2014, equal to about 15% of global manufacturing output, from $13 billion in 2004 (Lux Research). Nanoforce is taking advantage of rapid innovation in materials science to meet critical needs in growing industry sectors including petroleum refining and biodiesel production. For more information, please visit www.nanoforcetechnologies.com.
About Refinery Science Corp.
Refinery Science Corp., a wholly owned subsidiary of Nanoforce, is a material science-based petroleum technology business. The company intends to apply the benefits of its latest developments in material science and nanotechnology to provide solutions to issues associated with the production and transportation of extra heavy crude, and increase profits from refining heavy crude and residual bottoms. The Company's unique nano-materials may enable companies to profitably refine low quality crude oil, such as that from shale and oil sands that are difficult and expensive to process. For more information please visit www.refineryscience.com.
Clemco Industries is a Canadian corporation that provides bioremediation and ancillary services to food sector establishments, with established clients and annual revenues in excess of $1 million. Clemco produces a proprietary group of micro-organisms and employs them in a unique business system that enables clients to comply with legal wastewater management requirements. (www.thelegacysystem.com)
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Nanoforce, Inc. (604) 288-7703 www.nanoforcetechnologies.com #186-4800 N. Stanton St. El Paso, TX 79902