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11-02/03 :: February / March 2011


nanotimes


Companies Facts


Wise County, Virginia, with commercial operations scheduled for summer 2012. Virginia City will be one of the cleanest power stations of its kind. The circu- lating fluidized bed unit will use run-of-mine coal, waste coal and up to 20% biomass for its fuel. http://www.headwaters.com


I


llumina, Inc. (NASDAQ:ILMN) announced the closing of $800 million principal amount of 0.25%


Convertible Senior Notes due 2016 through offerings to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amen- ded (the „Securities Act“). In connection with the offering, Illumina also granted the initial purchasers a 30-day option to purchase up to $120 million of additional notes.


The notes will pay interest semiannually at a rate of 0.25% per annum. The notes will be convertible under certain circumstances. Upon conversion, the holder of each note would receive, at our election, cash, shares of Illumina‘s common stock or a combi- nation thereof, based on an initial conversion rate of 11.9687 shares of common stock per $1,000 princi- pal amount of the notes, which is equal to an initial conversion price of approximately $83.55 per share. Illumina used $314.3 million of the net proceeds from this offering to purchase 4,890,500 shares of its common stock in privately negotiated transactions concurrently with this offe- ring.


The company also intends to use between appro- ximately $260 million and $390 million of the net proceeds of the offering to fund conversions of its currently outstanding convertible notes. Illumina intends to use the balance of the net proceeds for


other general corporate purposes, which may include acquisitions and additional purchases of its common stock.


http://www.illumina.com I


ndustrial Nanotech, Inc. (Pink Sheets: INTK) has won the bidding process for a purchase contract


by the City of San Jose in California to provide its patented Nansulate®


Translucent GP insulation and


mold resistance coating in support of San Jose Water Pollution Control Plant / Environmental Services De- partment requirements. The project bid from the City of San Jose is for 150 gallons. The Company has also received an order from their Louisiana Distributor, Russo Environmental Materials, for a trial project by the Lafayette Consolidated Government, for Nansu- late®


Translucent High Heat, Nansulate® GP, and Nansulate® on and asset protection coatings.


The Company has entered further the heat process equipment OEM market with a project to provide Nansulate®


to an industrial boiler manufacturer for


application on all new equipment manufactured by the customer. Nansulate®


is the Company‘s patented


product line of award winning, energy saving protec- tive coatings which are well-documented to provi- de the combined performance qualities of thermal insulation, corrosion prevention, resistance to mold growth, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water- based, coating formulation. Revenues from this OEM deal are estimated to be approximately five million dollars annually.


“We have been very successful for many years at reducing the energy consumption of heat process


Translucent Translucent PT thermal insulati-


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