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DETROIT, May 1, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce today the Company has signed a Non-Disclosure Agreement (NDA) with CIVIK of Mexico. The NDA will allow CIVIK to review and test 2 of Nano Labs' nanotechnologies, the nano insulate coatings and nano diamond applications, on CIVIK's proprietary LED light system.
The two nanotechnology applications being tested are as follows:
1. Employing Nano Labs' nano insulate coating, NC2012, which may allow the LED light to dissipate heat created in the LED housing thereby increasing the efficiency and life of the LED light, projected at over 55,000 hours, and:
2. Applying the nano diamond coating on the LED light glass face thereby benefiting the system by making the light brighter and protecting it against environmental damage.
Mr. Bernardo Chavarria, President of Nano Labs, states, "We are very excited to continue our work together with CIVIK. We believe the CIVIK LED system combined with our nanotechnology can produce an extremely competitive product in the commercial and government lighting marketplace. Our preliminary studies indicate a potential cost savings of 70% when compared to lights being sold by major competitors. Further to this – and more important – our studies indicate that the new LED light system could potentially increase energy saving up to 78% to the end user. The new LED lighting system will be smaller, emits the same light as the current lighting systems used by municipalities and shopping malls, but require much less energy and maintenance. This would represent a double win for municipalities which could then recover the cost of implementation through the energy cost savings."
The companies are working together to establish a Letter of Intent (LOI) which would outline the establishment of a strategic alliance and joint venture for the manufacturing and distribution of the technology.