MASSILLON, Ohio (May 13, 2020) — Tesla NanoCoatings, Inc. delivered record sales in the first quarter despite the impact of the precipitous drop in oil prices and the COVID-19 pandemic. The company saw a 107% increase in sales in the first quarter of 2020. The increase is the result of sales in the Middle East and Gulf of Mexico as well as the addition of a key new customer.
“While we are pleased with our first quarter results, we recognize the challenges of the second quarter and are hopeful that the third quarter will return to normal levels of activity,” commented Todd Hawkins, Tesla NanoCoatings President and Founder.
“There will be even stronger emphasis on maintenance costs the remainder of the year and beyond which will benefit our value proposition. Our proven process reducing maintenance benefits our customers anywhere from 30% to 50%,” he added.
“The disruptive nature of our carbon nanotechnology is changing the maintenance game for operators worldwide,” stated Hawkins, who further commented, “We expect to see faster adaption of TESLAN® coatings as major oil companies who are testing our products recognize the substantial savings and expand the use of our coatings throughout their onshore, offshore and new construction projects.”
About Tesla NanoCoatings
Tesla NanoCoatings, Inc. is a technology company based in Massillon, Ohio. The company’s product line is Teslan®, a highly effective corrosion control coating for structural steel utilizing carbon nanotubes, which self-assemble into rope structures, making them highly conductive, tough and flexible. Combined with an extensive intellectual property portfolio, Tesla NanoCoatings, Inc. incorporates features that no other technology can deliver; offering validated corrosion control, world leading nanotechnology manipulation, and 2 x 1 Wet Edge application process.
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For more information:
Joe Barone, Vice President, Marketing
Tesla NanoCoatings, Inc.
PO Box 1097
Massillon, Ohio 44648
Mobile: (330) 809-6701