DETROIT, MI -- (Marketwired) -- 01/13/14 --
Nano Labs Corp. (OTCQB:CTLE) ("Nano Labs" or "The Company") is pleased to announce it has signed a Letter of Intent (LOI) with Polec SA de CV ("Polec") with respect to an agreement between the parties to acquire and develop a technology that creates new ecofriendly, green building material solutions for government infrastructure, industrial, and residential construction projects.
The LOI sets forth the principal terms of the partnership between the companies in connection with the continued development of Polec's proprietary polymer-based, soil stabilizer and other construction material product(s).
The companies are furthering technical due diligence workshops and business plans to further continue nano research and development of the new product, manufacturing, operations, and business development efforts to get the new product to market in the first quarter of 2014.
The current technology, a 100% organic, water-based emulsified polymer, when added to almost any type of soil such as Earth, Sand or Clay it creates a stone-like brick, block and/or panel. The organic polymers function as a cementing and bonding agent which increases and optimizes the molecular attraction of the soil, controlling the expansion and linear contraction, thus increasing the amount of carrier load and resistance suitable for construction applications, essentially creating a stone like building material.
The polymer is dissolved in water and added to the naturally occurring soil available on the construction site. The combination creates a thick, malleable mixture that can be molded to form and specification. The stone bricks air dry and are immediately ready for commercial use. Finished stone bricks are ideal for floors to walls, in both commercial and residential building projects, and can also be poured as a single, continuous set ideal for parking lots and roads. The product is environmentally friendly, non-toxic, water-resistant, and presents the advantages of requiring no special equipment, electricity, or ovens, and eliminates significant costs associated with materials transport and handling. This new technology could be used for road construction replacing asphalt or cement around the world.
"We are very pleased to be working with Polec's innovative team of engineers. Imagine turning a dirt road into a cement like surface without any additional aggregates. There is tremendous potential for this product to be a very cost-effective alternative and replacement in the construction industry. We are moving forward quickly to finalize the joint venture agreement," comments Mr. Bernardo Camacho Chavarria, President of Nano Labs.
About Nano Labs
Nano Labs Corp. (the "Company") (OTCQB: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.
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.
Nano Labs Corp.
Bernardo Camacho Chavarria
1 (888) 806-2315
Source: Nano Labs Corp