Joint Venture Collaboration Agreement for the Research and Development, Manufacturing, Distribution and Marketing of POLEC´S Technology and Products.
DETROIT, MI / ACCESSWIRE / August 21, 2014 / Nano Labs Corp. (OTCQB: CTLE) is pleased to announce today the Company has entered into Joint Venture Agreement with POLEC INDUSTRIAS S de RL de CV (POLEC(R)) to launch a Market Development Program (MDP) to design, manufacture and sell POLEC´s product "Technosoil", for a term of twenty years.
POLEC is a technology-based company presently located in Mexico that has developed a novel technology highly effective as a liquid cement that could be used to improve and to stabilize soils. This is a polymeric water base product able to provide new mechanical high value added properties to practically any soil such as sand, earth or clay that could be treated with this product (the "Polec Technology"). Polec has been awarded with the National Prize for Innovation and Entrepreneurship in high technology by the Ministry of Economy in Mexico 2012 and also with one of the 15 International Projects Selected to participate in the Santander III Investor forum in Madrid España by de Web of Iberoamerican Universities RedEmprendia. Also was selected by FUMEC (Mexico- USA Foundation for Science) among 400 projects to participate in Bootcamp TechBA 2013 in Austin with the IC2 Institute and the University of Texas at Austin.
The Joint Venture Agreement outlines the establishment of a new corporate entity in the USA territory, for the operational and funding requirements of the Polec Technology. The new company will be responsible to R & D using Nano Technology, adapt and address market opportunities in the particular territories of the United States and Canada as initial commercialization stage for the Retail Market. In accordance with the terms and provisions of the Polec Joint Venture Agreement, Polec shall be 50% equity owner and Nano Labs shall be 50% equity owner of the new corporate entity.
The Polec technology was used to build a retail outlet for the largest retailer in the world in Mexico in 2007, replacing conventional used aggregates (crushed stone) with Polec Tecnosoil mixed with local Sand. Using the Polec technology the engineers surpassed the required soil load bearing capacity of the sub-base for the construction of the structural foundation, roads, parking lot, and sewage. Millions were saved in construction cost and the construction video and photographs can be viewed on our new website at www.Nanolabs.us .
The Companies are currently working together to fast-track outline the commercial scope and address market potential worth billions of dollars in the construction industry. In 2011, public construction spending in the United States reached some 79 billion U.S. dollars which were spent on highway and street. This new technology could reduce these costs by 40%.
"In developing this Joint Venture, our goal is to enable both companies to address market opportunities as fast as possible at an international scale with a product that has shown the benefits for construction industry niches and it’s effectiveness for provide remarkable new properties to simple soils such as sand, earth and clay when easily applied to them." states Mr. Bernardo Chavarria, President of Nano Labs.
About POLEC(R) S. de RL.
Established in 2012, POLEC is a technology-based company located in Mexico that has as a goal to develop and provide different solutions for the requirements of the construction industry, in a self-sustainable way, cost effective and environmentally friendly. The company initially developed a soil stabilizer but after 5 years of research and development, a new generation of product became enabling the company to achieve new market scope. The low cost, it’s high efficiency, it´s load resistance and the possibility to be used with almost any sort of soil, makes it very attractive to address other needs of the construction industry.
About Nano Labs
Nano Labs Corp. (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