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- Expansion of Management Board in order to manage growth
- Dr. Weiss appointed as CEO with responsibility for Finance
- Bungeroth intensifies activities in the areas of groundwater filtration, coatings and research
The Supervisory Board of the Nanostart (OTCQX: NASRY) portfolio company ItN Nanovation AG (FSE: I7N) resolved yesterday to appoint Dr. Christoph Weiss (56) to the Management Board of ItN Nanovation AG for an initial term of two years.
He will serve as the new Chief Executive Officer with particular responsibility for the areas of Corporate Development and Finance, as well as the Sewage Water MBBR (container sewage treatment plants) segment. In his role as a member of the Management Board, Lutz Bungeroth will now concentrate on the company's activities in the areas of groundwater filtration, industrial coatings and contracted research, with a particular focus on establishing the agreed joint venture in Saudi Arabia. With the extension of its Management Board, ItN Nanovation AG is seeking to meet the challenges posed by its dynamic expansion and its current business development.
Dr. Weiss has many years of experience in establishing and restructuring companies across a wide range of industries. After some time at McKinsey, he worked in management positions for the Festo Group for around 15 years. He then moved to the Theo Müller Group, where he served as managing partner. Since 2008, Dr. Weiss has been a member of the Supervisory Boards and Advisory Boards of a number of companies.
Speaking about his appointment as CEO of ItN, Dr. Weiss commented: "The technology developed by ItN is unique and its applications in the areas of water filtration and industrial coatings are groundbreaking. I look forward to continuing to develop the company together with our impressive team. At the same time, ItN's economic success is a top priority for me."
Lutz Bungeroth added: "Our company is going through an important phase. The complex challenges resulting from the management of our continued growth can now be addressed jointly by the Management Board in future. I am looking forward to having a highly experienced manager like Dr. Weiss by my side as CEO and will now concentrate in particular on the business potential offered by Saudi Arabia, which is becoming increasingly tangible."
About Nanostart AG
Nanostart AG (OTCQX: NASRY) headquartered in the German financial capital of Frankfurt, is a 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 Nanostart Asia and the venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government. For more information, please visit: www.nanostart.de
About ItN Nanovation:
ItN Nanovation AG (FSE: I7N) is one of Germany’s leading nanotechnology companies. It develops innovative ceramic products such as filter systems and coatings for major industrial customers. The company manufactures the necessary nanoscale powder in-house. ItN Nanovation’s filter products can be used for drinking water treatment and wastewater purification, as filters in the drinks industry and to separate oil and water. Nanotechnology-based ceramic coatings are used as protective and catalytic layers in a wide range of applications in various industries, from ovens through aluminum foundries to coal-fired power stations. ItN Nanovation was founded in 2000. The company’s success is based on an extensive patent portfolio combined with in-depth development and application expertise. For more information on the company, please visit www.itn-nanovation.de.
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 Canada, Australia or Japan.
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Dr. Hans Joachim Duerr
Head of Corporate Communications
D-60313 Frankfurt, Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
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