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New nanotechnology facility opening in NC

August 17th, 2006

WHITSETT, NC – High Performance Coatings, a Utah-based company that uses nanotechnology to produce coatings for a variety of industries, will open a 55,000 sq ft facility in Whitsett, NC. The creation of the facility is expected to bring 214 jobs and $3.5 million in investments over a three year period.

“As HPC expands its market leadership in commercial high performance non-structured coatings, North Carolina quickly emerged as the leader for our new plant, offering the critical elements needed for our growth,” said Paul Clayson, chairman and CEO of nCoat.

Nanotechnology refers technology on the smallest scale at which matter can be studied and manipulated. This is big technology on a miniscule atomic level. Eight to ten atoms span one nanometer; a human hair is approximately 70,000 to 80,000 nm thick.

High Performance Coatings is a wholly owned subsidiary of nCoat Inc., a nanotechnology development, and licensing and distribution company. It uses the technology for the aerospace, medical, automotive and diesel truck industries.

Company officials said one reason they chose North Carolina as the location for the facility is the large demand for High Performance Coatings’ products in the motor sports industry, a popular industry in NC.

“North Carolina’s rich heritage in motor sports, automotive and diesel manufacturing, higher education research and a loyal, committed work force, provided the bedrock for our decision,” Clayson said.

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