Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Nanostart-held ItN Nanovation achieves key milestone in international expansion

Abstract:
* Term sheet for establishing joint venture for the production and sale of nanoceramic filter systems and accessories in Saudi Arabia signed with investor group
* ItN Nanovation will hold 17.5 percent share, rising to 40 percent at a later date
* ItN Nanovation will receive USD 2,350,000 for usage rights (recognised directly in income)
* Joint venture has model character for international expansion

Nanostart-held ItN Nanovation achieves key milestone in international expansion

Frankfurt / Saarbrücken | Posted on October 27th, 2010

ItN Nanovation AG (ISIN DE000A0JL461), a portfolio company of Nanostart AG, has announced a key milestone in the international expansion of its ceramic flat filter membrane technology, called CFM Systems®, for water treatment applications. The company has now agreed the terms and conditions for establishing a joint venture in Saudi Arabia with a Saudi Arabian investor from Jeddah and a consortium of German industrial investors. ItN Nanovation will initially hold a 17.5 percent share in the joint venture, which will later be increased to 40 percent. This rise has already been stipulated in the term sheet and must be implemented by 2014.

The parties are likely to sign binding agreements regarding the joint venture by the end of November.

According to the signed term sheet, ItN Nanovation will receive around USD 2.35 million (approximately EUR 1.75 million) up front for providing a limited amount of locally delimited usage rights for the patented CFM nanotechnology systems. ItN Nanovation will use around two thirds of this sum for acquiring its share in the joint venture. The company is likely to recognise this amount as other operating income for the current financial year. Apart from this one-off payment, ItN Nanovation will also receive additional royalties that will be recognised in income. Due to the company's share in the joint venture, it will also participate in the profits and losses as well as value creation of the joint venture on a pro-rata basis.

The joint venture will operate under the name of Saudi Water Nanovation and produce and sell CFM Systems and accessories for flat filter membrane solutions at its own premises in Saudi Arabia. Plans are for the joint venture to construct a plant that will have three times the capacity available to ItN Nanovation AG at present once it reaches the last construction phase (probably in 2013). The joint venture may be able to start up production as early as 2011.

ItN Nanovation's ceramic flat filter membranes are a brand new solution for filtering systems in the water recycling, drinking water supply and surface water processing sectors. The need for such solutions is particularly high in Saudi Arabia and neighbouring Arabian countries.

Apart from the positive effect on group income, the joint venture has model character for ItN Nanovation in terms of developing the company's international business in conjunction with local partners, and other joint ventures are already in the pipeline.

The ItN Nanovation management board will be holding a telephone conference (in german language) for investors, analysts and media representatives on Thursday, 28 October 2010 at 10:00 a.m. CET. They will explain this cooperation in detail and provide information on the company's outlook for the coming quarters. If you wish to participate in the telephone conference, please contact Diane Selge, edicto GmbH on +49 69 905505-53 or at for the log-in data.

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 Canada, Australia or Japan.

####

About Nanostart
Nanostart AG (OTCQX: NASRY), headquartered in the German financial capital of Frankfurt, is the world’s leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary and venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government. For further information about the company, please visit www.nanostart.de.

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

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

Leti Announces Launch of First European Nanomedicine Characterisation Laboratory: Project Combines Expertise of 9 Partners in 8 Countries to Foster Nanomedicine Innovation and Facilitate Regulatory Approval July 1st, 2015

Bruker Introduces Second-Generation Inspire Nanochemical Imaging Solution: Featuring Unique PeakForce IR and IR EasyAlign Technology July 1st, 2015

GLOBALFOUNDRIES Completes Acquisition of IBM Microelectronics Business: Transaction adds differentiating technologies, world-class technologists, and intellectual property July 1st, 2015

Samsung's New Graphene Technology Will Double Life Of Your Lithium-Ion Battery July 1st, 2015

Products

Philips Introduces Quantum Dot TV with Color IQ™ Technology from QD Vision: Manufacturer is first to offer quantum dot displays for both TVs and monitors June 30th, 2015

Dais Analytic Unveils New Version of Aqualyte Membrane Technology: Updates to the Basis of the Company's Industry-Changing Nanotechnology Designed to Strengthen Position in Global Air, Energy, and Water Markets June 26th, 2015

Industrial Nanotech, Inc. Announces Launch of Heat Shield(TM) EPX4 Thermal Insulation and Chemical Resistant Coating June 12th, 2015

Industrial Nanotech, Inc. Announces Official Launch of the Eagle Platinum Tile™ May 19th, 2015

Investments/IPO's/Splits

Harris & Harris Group Portfolio Company, AgBiome, Announces Partnership to Accelerate the Discovery of Next Generation Insect-Resistant Crops July 1st, 2015

Nanometrics to Participate in 7th Annual CEO Investor Summit 2015: Investor Event Held Concurrently With SEMICON West in San Francisco June 25th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Announces 1,000 Qubit Processor and is Discussed in the Economist June 23rd, 2015

Nanowire LED Innovator Aledia Completes $31 Million Series B Financing June 18th, 2015

Announcements

Leti Announces Launch of First European Nanomedicine Characterisation Laboratory: Project Combines Expertise of 9 Partners in 8 Countries to Foster Nanomedicine Innovation and Facilitate Regulatory Approval July 1st, 2015

Bruker Introduces Second-Generation Inspire Nanochemical Imaging Solution: Featuring Unique PeakForce IR and IR EasyAlign Technology July 1st, 2015

GLOBALFOUNDRIES Completes Acquisition of IBM Microelectronics Business: Transaction adds differentiating technologies, world-class technologists, and intellectual property July 1st, 2015

Samsung's New Graphene Technology Will Double Life Of Your Lithium-Ion Battery July 1st, 2015

Patents/IP/Tech Transfer/Licensing

GLOBALFOUNDRIES Completes Acquisition of IBM Microelectronics Business: Transaction adds differentiating technologies, world-class technologists, and intellectual property July 1st, 2015

NEI Announces the Issuance of Multiple Patents on Self-Healing & Superhydrophobic Coatings June 30th, 2015

Solegear Further Strengthens its Product Development Team: New Hire Seeks to Create New, Disruptive, Sustainable Materials June 17th, 2015

High-tech nanofibres could help nutrients in food hit the spot June 17th, 2015

Water

Visible Light-Sensitive Photocatalysts Used for Purification of Contaminated Water in Iran June 30th, 2015

Dais Analytic Unveils New Version of Aqualyte Membrane Technology: Updates to the Basis of the Company's Industry-Changing Nanotechnology Designed to Strengthen Position in Global Air, Energy, and Water Markets June 26th, 2015

Bacteria Cellulose, Natural Polymers with Applications in Various Industries Synthesized in Iran June 22nd, 2015

Ceramic Nanomembrane, New Material for Dehydration of Natural Gas June 7th, 2015

Alliances/Trade associations/Partnerships/Distributorships

Harris & Harris Group Portfolio Company, AgBiome, Announces Partnership to Accelerate the Discovery of Next Generation Insect-Resistant Crops July 1st, 2015

Graphene breakthrough as Bosch creates magnetic sensor 100 times more sensitive than silicon equivalent June 28th, 2015

Dyesol Joins Solliance as an Industrial Partner June 17th, 2015

Framework materials yield to pressure June 11th, 2015

New-Contracts/Sales/Customers

Oxford Instruments’ TritonXL Cryofree dilution refrigerator selected for the Oxford NQIT Quantum Technology Hub project June 30th, 2015

Centre for Process Innovation pilots Beneq’s breakthrough roll-to-roll ALD system for moisture barrier films June 3rd, 2015

Argonne chooses Beneq’s TFS 500 Atomic Layer Deposition System: Modularity and flexibility make for a natural choice May 14th, 2015

New JEOL E-Beam Lithography System to Enhance Quantum NanoFab Capabilities May 6th, 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