Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Nanostart further increases ownership of ItN Nanovation

Abstract:
* Shareholding in portfolio company increased to 27.19 percent
* Turnaround of ItN Nanovation successful completed
* No remaining liabilities toward banks or lenders

Nanostart further increases ownership of ItN Nanovation

Frankfurt | Posted on December 8th, 2009

Nanostart AG, the Frankfurt-based nanotechnology investment company, is increasing its shareholding in ItN Nanovation AG (ISIN DE000A0JL461 / WKN A0JL46), a cleantech innovator based in Saarbrücken, Germany, from 26.5 percent to almost 27.2 percent.

Following the company's successful turnaround, ItN Nanovation has repositioned itself and is rapidly moving forward with a highly focused business model built around two key growth drivers: its patented technology, and its new marketing strategy. The strategy under the company's new senior management centers around international joint ventures to execute specific projects under which ItN Nanovation provides its know-how in the production of nanoceramics, while the project partner - generally a major corporation - provides financial backing as well as production and marketing resources. Several such major projects are already in process, such as projects for seawater desalination in the Arabian Peninsula and for the separation of oil-water mixtures in the production of oil from tar sands in North America.

Marco Beckmann, CEO of Nanostart, commented on the increase in ownership: "The availability of clean water is a global challenge which is becoming critically important and for which the unique technology from ItN Nanovation holds out reliable and effective solutions. Some very attractive business opportunities have already come about as a result of this business restructuring, and we regard our increase in shareholding as a superb investment."

The increase in shareholding is resulting from the issuance of new shares against a contribution of capital in kind which was resolved by the executive board of ItN Nanovation and approved by its supervisory board on December 4. Under this transaction, secured loans in the amount of EUR 1.5 million, for the most part from Nanostart AG and a prominent business family, will be contributed to the company, in exchange for which 462,961 new shares will be issued from approved capital, these having been valued based on the prevailing market price. As a result of this exchange transaction, ItN Nanovation AG will have a significantly stronger balance sheet structure in that these liabilities will be converted into shareholder equity. At the same time, by releasing the collateral securing the loans, the debt exchange transaction has facilitated the seamless transfer, as announced on December 2, of the company's production facility in Halberstadt, Germany, which was sold to CWT Clean Tech AG. Through the contribution of capital in kind, the company's registered capital will increase to almost EUR 8.2 million. The transaction is expected to raise the equity ratio on the company's balance sheet to approx. 50 percent, while also eliminating annual interest expense of more than EUR 100,000. Assuming that the capital increase is entered into the commercial register before year end, ItN Nanovation AG will have no remaining liabilities toward banks or other lenders.

Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the "Entry Standard" segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within the United States of America, Canada, Australia or Japan.

####

About Nanostart
Nanostart AG is the world’s leading nanotechnology investment company. The Frankfurt-based company provides venture capital financing for nanotechnology companies in various growth phases. It also provides the benefits of its experience and expertise to developers of financial instruments and to investors in the nanotechnology sector.

About ItN Nanovation

ItN Nanovation AG, founded in 2000, is one of the leading nanotechnology companies in the world, developing innovative ceramic products, such as filtration systems and coatings, for large industrial customers. The nanoscale powder needed for those products is manufactured by the company itself. The filtration products from ItN Nanovation can be used for drinking water purification, waste water treatment, as beverage filters and for the separation of oil and water. Ceramic coatings based on nanotechnology are used in a variety of ways as protective and catalytic coatings in various industries: from baking ovens to aluminum foundries to coal-fired power plants. The company's success is founded on an extensive product portfolio, combined with comprehensive development and application know-how. For further information about the company, please visit www.itn-nanovation.de.

For more information, please click here

Contacts:
Media contact:
Nanostart AG
Public Relations
Dr. Hans Joachim Dürr
Goethestrasse 26-28
D-60313 Frankfurt
Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122
e-mail:

Copyright © Nanostart

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Solid state physics: Quantum matter stuck in unrest August 1st, 2015

Self-assembling, biomimetic membranes may aid water filtration August 1st, 2015

Transparent, electrically conductive network of encapsulated silver nanowires: A novel electrode for optoelectronics August 1st, 2015

Kalam: versatility personified August 1st, 2015

Investments/IPO's/Splits

Harris & Harris Group Portfolio Company, HZO, Announces Partnerships with Dell and Motorola August 1st, 2015

Nanometrics Announces Upcoming Investor Events July 28th, 2015

Harris & Harris Group Portfolio Company, Bridgelux, Enters into Agreement to be Acquired by an Investment Group July 22nd, 2015

Harris & Harris Group Portfolio Company, OpGen, Gains $6 Million Investment From Merck GHI in Addition to New Acquisition July 16th, 2015

Announcements

Self-assembling, biomimetic membranes may aid water filtration August 1st, 2015

Transparent, electrically conductive network of encapsulated silver nanowires: A novel electrode for optoelectronics August 1st, 2015

Harris & Harris Group Portfolio Company, HZO, Announces Partnerships with Dell and Motorola August 1st, 2015

Advances and Applications in Biosensing, Sensor Power, and Sensor R&D to be Covered at Sensors Global Summit August 1st, 2015

Patents/IP/Tech Transfer/Licensing

Quantum networks: Back and forth are not equal distances! July 28th, 2015

Reshaping the solar spectrum to turn light to electricity: UC Riverside researchers find a way to use the infrared region of the sun's spectrum to make solar cells more efficient July 27th, 2015

Smarter window materials can control light and energy July 22nd, 2015

Magnetic nanoparticles could be key to effective immunotherapy: New method moves promising strategy closer to clinical use July 15th, 2015

Environment

March 2016; 6th Int'l Conference on Nanostructures in Iran July 29th, 2015

Laboratorial Performance of Nanocomposite Membrane Improved in Water Purification July 28th, 2015

Nanosorbents Reduce Amount of Heavy Metals in Petrochemical Wastewater July 23rd, 2015

Nanopaper as an optical sensing platform July 23rd, 2015

Energy

Transparent, electrically conductive network of encapsulated silver nanowires: A novel electrode for optoelectronics August 1st, 2015

Springer and Tsinghua University Press present the second Nano Research Award: Paul Alivisatos of the University of California Berkeley receives the honor for outstanding contributions in nanoscience July 30th, 2015

Controlling Dynamic Behavior of Carbon Nanosheets in Structures Made Possible July 30th, 2015

March 2016; 6th Int'l Conference on Nanostructures in Iran July 29th, 2015

Water

Self-assembling, biomimetic membranes may aid water filtration August 1st, 2015

March 2016; 6th Int'l Conference on Nanostructures in Iran July 29th, 2015

Laboratorial Performance of Nanocomposite Membrane Improved in Water Purification July 28th, 2015

Nanosorbents Reduce Amount of Heavy Metals in Petrochemical Wastewater July 23rd, 2015

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project