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Industrial Nanotech to supply insulation and corrosion control coatings to Galp Energia

May 22, 2012

Industrial Nanotech, Inc., received an order of 2,150 gallons of the company's patented Nansulate Translucent PT insulation and corrosion control coating from Montaco, the industrial contractor awarded the bid to apply Nansulate on fuel oil tanks at the Matosinhos refinery in Portugal owned by Galp Energia. The total price of the order is $163,298 and is the third order in the past 19 months for projects at the refinery covering both fuel oil storage tanks and an oil pipeline for insulation and corrosion prevention.

"Galp Energia continues to upgrade their Portugal refineries on an ongoing basis and we look forward continuing to supply them with Nansulate Translucent PT," said Francesca Crolley, vice president of business development for Industrial Nanotech, Inc. "The fuel oil storage tank project, which began with large applications of Nansulate last year, was paused during the winter season and is continuing now that the warmer weather has returned."

Galp Energia SGPS SA, Portugal's biggest oil company, has activities that span from exploration and production of oil and natural gas to refining and marketing oil products, natural gas marketing and sales and power generation. Galp Energia processes crude oil in its refineries at Sines and Matosinhos. These refineries have currently a total refining capacity of 330,000 barrels of crude oil a day. Their activities are expanding strongly worldwide and are predominantly located in Portugal, Spain, Brazil, Angola, Venezuela, Mozambique, Cape Verde, Guinea-Bissau, Swaziland, Gambia, East Timor, Uruguay and Equatorial Guinea.

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