DETROIT, Feb. 1, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce today the Company has signed a Letter of Intent with Resinas BYR for the manufacturing and distribution of the Company's NC2012, a proprietary nano thermal insulation paint coating.
The Letter of Intent outlines the establishment of a strategic alliance for manufacturing and distribution of the Company's proprietary paint coating under an industrial licensing agreement for the United Mexican States.
Both companies are currently working together to jointly facilitate the exchange of technical delegations to provide the necessary cooperation and training required to ensure the success of the venture."We are currently coordinating schedules for workshops to facilitate the technology transfer and enable a proper assessment of the requirements for inputs and processes to make the corresponding scaling up of the formulations and meet production standards," states Mr. Bernardo Chavarria, President of Nano Labs. "We are very excited about the prospects in Mexico. Resinas BYR is one of Mexico's premier paint and coatings producers with a production capacity of 394,000 gallons per month. Tapping into this pipeline in a turnkey scenario with both manufacturing and distribution is a winning partnership for us. This will allow us to enter the Mexican and US markets, and we expect to generate revenues in the next quarter." "Of particular note in Mexico, the potential to reduce air-conditioning related costs by as much as 50% is a strong commercial driver. We are very excited about the prospect of commercialization in hotter climates, where in some marketplaces customers don't have ready access to energy, and could use the nano paint on rooftops to dramatically decrease indoor temperatures. The coating isolates temperatures outside of structures for the maintenance of pleasant inside temperatures. As well, the coating is an excellent waterproof protectant and fire retardant."