- Sole Maker of Patented Insultex® Insulation Delivering Energy Saving Performance Far Superior to All Competition.
- Greater Energy Savings from Insultex® Insulation Delivers Essential Benefits of Economic Gains for the User and also Carbon Reduction for the Environment.
- New US Patent Just Issued for Insultex® Manufacturing Process.
- 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.
- New Domestic Distributors 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, patented 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.
Greater energy efficiency has never been more important in our history with the major driving factors of economic savings for the user as well as carbon reduction to help address the greenhouse gas climate crisis. Better insulation delivers real-world gains for both of these vital objectives and patented IVDN Insultex® Insulation is now the most energy-efficient insulation on the market by a wide margin.
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 evacuated cells is the creation and enforcement of a thermal energy tortuous path within the Insultex®.
- Multi-Billion Dollar Market
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/.
For investors, IVDN has a very small share structure with only about 35 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 Patent Award for Propriety Insulation Manufacturing Process
On April 20th IVDN announced that the United States Patent and Trademark Office (USPTO) has issued Patent # 11,623.375 B2 defining the Company’s proprietary process for forming closed and evacuated cell expanded low-density foam used to make the superior performance Insultex® insulation material. The USPTO first issued in January 2023 a Notice of Allowance and the final patent was issued accordingly.
It should be noted that the USPTO generally takes a very long period to issue patents, sometimes several years. However, in the case of the IVDN Insultex® and its propriety manufacturing process, the patents were issued much quicker because there are simply no competitive products or technologies that have mastered the advancement of closed and evacuated cells for insulation. IVDN is the sole source in the world for this game-changing and now fully patent-protected advancement.
Innovative Designs CEO Joseph Riccelli commented, “This is a key milestone and validation for our Insultex® insulation. Now that this patent is in place, we anticipate unprecedented growth into apparel and many other markets.”
- 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 potential 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 onto 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® Insulation 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.
- 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, 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
