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CALIFORNIA NANOTECHNOLOGIES STARTS NEW WHOLLY OWNED SUBSIDIARY NAMED WHITE ROOF SOLUTIONS, INC.
Cerritos, California. June 28, 2012 - California Nanotechnologies is pleased to announce that ...
About this update from California Nanotechnologies Corp.
[{"type":"text","content":"\nCALIFORNIA NANOTECHNOLOGIES STARTS NEW WHOLLY OWNED SUBSIDIARY NAMED WHITE ROOF SOLUTIONS, INC.\n\nCerritos, California. June 28, 2012 - California Nanotechnologies is pleased to announce that it has acquired the assets of White Roof Systems of Culver City, California. Over the last 3 years, White Roof Systems has developed the protocol necessary for the application of a patented new roof coating system. This system, designed by a retired U.S. Air Force coating specialist, provides both a waterproof membrane to cover an existing damaged roof and a reflective white surface coating the combination of which reduce the energy needs of the building by an estimated 10-20%. The elastomeric primer layer is partially composed of cryogenically milled recycled tires. When re-vulcanized, this primer layer provides both waterproofing and insulating qualities. The surface layer is impregnated with hollow glass microspheres to further insulate the roof top and reflect incoming solar energy back to the atmosphere before it warms up the roof surface. The Company is continuing to improve this technology through the many synergies with the high technology coatings developed by California Nanotechnologies.\nWhite Roof Systems has completed approximately 30 projects in Southern California including the Hilton Hotel at Disneyland and the administration buildings at the Hearst Castle in San Simeon, California. It is expected that this program will further add to the recurring revenues of California Nanotechnologies. In this regard, the Company has won two programs in the past 45 days. The total value of these programs is approximately $83,000US. The Company has also been involved in a major program in Saudi Arabia. This program, if the contract is awarded to our team, would see the roof coating of three new railway stations in Saudi Arabia. For devoting its expertise to this program in the planning, implementation and training stages, the Company would earn a consulting fee. CNO will be undertaking all these activities through a wholly owned subsidiary called White Roof Solutions, Inc. \n \nExcept for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company’s actual results or outcomes to be materially different from...