- Sole Maker of Insultex® Insulation Delivering Energy Saving Performance Far Superior to All Competition.
- Notice of Allowance from the US Patent and Trademark Office for Insultex® which will result in a Patent Being Issued.
- New International Distributor Agreement Signed with a Minimum Order Valued at Approximately $2 Million Per Year.
- Lockheed Martin and NASA Project Veteran Added to IVDN Board of Directors.
- Supply of R-6 Rated Insultex® House Wrap Materials for Ongoing Hurricane Rebuilding Efforts in Florida.
- New Domestic Distributors are Being Added with the Goal of Total US Coverage.
- Insultex® Winter Clothing Line for Sports and Outdoor Safety Using No Animal Materials.
Innovative Designs, Inc. (OTCQB: IVDN), manufactures and markets its unique Insultex® material, a quantum leap forward in insulation as the thinnest, lightest, and warmest insulator in the market today. IVDN products deliver optimum warmth and comfort with insulating, windproof, and waterproof protection with no animal materials used. IVDN has employed its proprietary Insultex® material to commercialize both clothing and home building insulation products which have never been more important with the fever pitch demand for greater energy efficiency today.
This new evacuated cellular structured fabric, available exclusively from IVDN, is truly revolutionary. It has been proven that a vacuum is the best Insulation and IVDN Insultex® incorporates countless evacuated cells. These individual cells create a tortuous path. Insultex® consists of a three-dimensional network of a countless number of evacuated cells, which impacts the conduction of thermal energy. The result of these countless number of evacuated cells is the creation and enforcement of a thermal energy tortuous path within the Insultex®.
According to Grand View Research, the global insulation market size was estimated at USD $52.18 billion in 2018 and is expected to expand at a CAGR of 5.7% going forward. Increasing consumer awareness regarding energy conservation is estimated to propel growth.
Contractors & builders who use IVDN Insultex House Wrap® have the ability to not only add a water vapor, air, and wind barrier but add an additional R-6 insulation to a structure. Builders who have to meet more stringent R-Value requirements can simply add IVDN Insultex House Wrap® to their wall structure and immediately add an additional R-6 insulation value.
Long-time customer and home builder Lindus Construction strongly endorses and markets the IVDN Insultex™ House Wrap® product. See the Lindus website with their commentary here: https://lindusconstruction.com/blog/insultex-house-wrap-future-home-weatherization/.
IVDN has a very small share structure with only about 34 million shares outstanding and a public float of about 16 million shares. Additionally, according to the latest 10-K filing, CEO Joseph Riccelli and two Directors are holding over 8 million of these shares making IVDN a very lean stock.
- IVDN Receives Notice of Allowance on Patent Application
On January 11th IVDN announced that the United States Patent and Trademark Office (USPTO) had agreed that its patent application defining the IVDN proprietary process for forming closed and evacuated cell expanded low-density foam is entitled to patent protection. The USPTO has issued a Notice of Allowance and an appropriate patent will issue in due course. A Notice of Allowance is a document sent to a patent applicant from the United States Patent and Trademark Office after a patent examiner has decided to issue the requested patent. Additional patent applications on other proprietary concepts are also being pursued.
This very positive action to grant a patent on the Insultex® product is a milestone step forward for IVDN inasmuch as it officially acknowledges the company’s product as unique from all other technologies and legally the sole property of IVDN to market commercially. With the already validated and certified status of Insultex® as the highest performing insulation for House Wrap and other applications, this latest action by the USPTO cements IVDN as the unequaled leader in energy-saving insulation solutions amongst all competitors.
- International Distributor Agreement with a Minimum Order Valued at Approximately $2 Million Per Year
On December 7th IVDN announced entering into an International Distributorship Agreement with Phoenix Nanotech LTD, Norfolk, England. Phoenix Nanotech will maintain exclusive distribution rights in Commonwealth Countries. The Commonwealth is a voluntary association of 56 independent and equal countries. It is home to 2.5 billion people and includes both advanced economies and developing countries. Thirty-two of the members are small states, including many island nations. The member governments have agreed to shared goals like development, democracy, and peace.
The signed agreement states Phoenix Nanotech LTD will purchase a minimum of 1,000,000 yards of Innovative Design’s exclusive insulation Insultex™ and a minimum of 1,000 rolls of Insultex™ House Wrap in a calendar year.
IVDN management has confirmed that this volume of Insultex™ material represents a revenue boost to the company of approximately $2 million USD. With the number of countries in The Commonwealth to be served, this figure could actually go much higher as Phoenix Nanotech begins to introduce Insultex™ to the European region in the coming months. At this time of elevated energy prices and diminished fuel supply due to ongoing conflicts, energy-saving solutions such as Insultex™ have never been more important.
Phoenix Nanotech CEO, Leigh Allison, commented, "We were delighted to sign an international distributorship agreement with Innovative Designs, Inc. The transition towards net-zero by 2050 will involve profound, sometimes disruptive products, and ‘Insultex’ with its global multiple application potentials is definitely one of those products."
- Lockheed Martin and NASA Project Veteran Joins IVDN Board of Directors
On December 1st IVDN proudly announced the addition of Robert K. Adams to its Board of Directors. Mr. Adams graduated from Texas A&I University with a degree in Electrical Engineering.
Mr. Adams has had an impressive career beginning at the Lockheed Martin Corporation working on various projects for NASA. Mr. Adams then moved on to the Department of Defense as an electrical engineer at Kelly Air Force Base.
Mr. Adams was later recruited to head a cyber security development team for the Department of Defense. His team developed a system to safeguard the various Air Force networks. Mr. Adams later established his own company, Planck Consulting, to support clients through the investigation of technical and scientific research, government policies and procedures, patent development, and engineering concepts.
Robert K. Adams commented, “My investor relationship with IVDN began almost 14 years ago, and I am extremely proud to be asked to become part of the amazing IVDN management team.”
With numerous potential applications for the Insultex™ material in demanding defense and aerospace industry roles, the addition of Robert K. Adams to the company’s leadership team could prove very advantageous for IVDN going forward.
- Assisting in Florida’s Huge and Ongoing Hurricane Rebuilding Process
In the wake of Florida’s 2022 Hurricanes Ian and Nicole, IVDN is now working to supply its unmatched, R-6-certified Insultex House Wrap® for the massive rebuilding effort that will be taking place over the next year or more. Billions of dollars of homes will have to be rebuilt in Florida. IVDN management is making a commitment to aid in this process as much as possible by delivering its Insultex House Wrap® which far outperforms all other home insulation products.
On October 25th IVDN announced offering a selected Florida contractor involved in the rebuilding of damage from 2022 hurricanes, a free product to help in the Florida restoration project. Applying Insultex™ House Wrap will not only defend the homeowner with a protective water-vapor barrier but also add an additional R-Value of six, which will result in substantial energy savings.
The offer of free products should not only help the specific recipients but also serve to introduce and educate many home building contractors in the area about the great advantages of the IVDN Insultex™ product line.
- IVDN Adds Major Distributor Hartman Independent
On August 25th IVDN announced a new distributorship agreement with Hartman Independent, of Western Pennsylvania. For over 70 years, Hartman has been supplying a wide range of building materials to the industrial, construction, and dealer markets. Hartman, with its 6 outside salesmen, will cover eastern Ohio, northern West Virginia, western and central Pennsylvania, and portions of New York, Maryland, and Virginia. See more information on the Hartman Independent website here: https://hartmanindco.com/.
- IVDN Interview with Bloomberg U.S. on RedChip Money Report
To view the interview segment at any time visit: https://youtu.be/jTF2_GrnH3c
For more information on Innovative Designs Inc. (OTCQB: IVDN) visit the company’s 2 websites at: http://www.idigear.com and http://www.insultexhousewrap.com.
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Media Contact
Company Name: INNOVATIVE DESIGNS, INC.
Contact Person: Joseph Riccelli, CEO
Email: Send Email
Phone: 412-799-0350
Address:124 Cherry St
City: Pittsburgh
State: Pennsylvania
Country: United States
Website: www.idigear.com
