Home > News > Nanotech Disappoints in Europe
July 6th, 2007
Nanotech Disappoints in Europe
Anxious investors are but one of the problems plaguing nanotechnology, the cutting-edge science of manipulating materials and microscopic devices at the atomic level.
Consider the story of Oxonica, Britain's highest-profile publicly traded nanotech startup. It revealed in late April that one of its key products—a catalyst designed to cut vehicle emissions when combined with high-sulfur diesel fuel—didn't work as expected, leading to the cancellation of a big supply deal with Turkish oil retailer Petrol Ofisi.
Oxonica shares were suspended until June, but when trading began again, the price plunged nearly 75%, wiping out $80.7 million in Oxonica's market capitalization. To save face, the company noted that Petrol Ofisi had agreed to work with it on another project involving low-sulfur diesel. But the damage was done, and Oxonica's share price is still only half what it was in April.
Harris & Harris Group Invests in Unique NYC Biotech Accelerator July 29th, 2014
Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 July 23rd, 2014
Nanometrics Announces Upcoming Investor Events July 22nd, 2014
Harris & Harris Group Invests in UberSeq, Inc. July 16th, 2014
Carnegie Mellon Chemists Create Nanofibers Using Unprecedented New Method July 31st, 2014
Pressure probing potential photoelectronic manufacturing compound July 31st, 2014
NanoScience: Giants of the Infinitesimal July 31st, 2014
From Narrow to Broad July 30th, 2014