Nanotechnology Now

Our NanoNews Digest Sponsors
Heifer International



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

Virginia Tech physicists propose path to faster, more flexible robots: Virginia Tech physicists revealed a microscopic phenomenon that could greatly improve the performance of soft devices, such as agile flexible robots or microscopic capsules for drug delivery May 17th, 2024

Gene therapy relieves back pain, repairs damaged disc in mice: Study suggests nanocarriers loaded with DNA could replace opioids May 17th, 2024

Shedding light on perovskite hydrides using a new deposition technique: Researchers develop a methodology to grow single-crystal perovskite hydrides, enabling accurate hydride conductivity measurements May 17th, 2024

Oscillating paramagnetic Meissner effect and Berezinskii-Kosterlitz-Thouless transition in cuprate superconductor May 17th, 2024

Investments/IPO's/Splits

Daikin Industries becomes OCSiAl shareholder July 27th, 2021

180 Degree Capital Corp. Reports +14.2% Growth in Q1 2021, $10.60 Net Asset Value Per Share as of March 31, 2021, and Developments From Q2 2021 May 11th, 2021

INBRAIN Neuroelectronics raises over €14M to develop smart graphene-based neural implants for personalised therapies in brain disorders March 26th, 2021

180 Degree Capital Corp. Issues Second Open Letter to the Board and Shareholders of Enzo Biochem, Inc. March 26th, 2021

Announcements

Virginia Tech physicists propose path to faster, more flexible robots: Virginia Tech physicists revealed a microscopic phenomenon that could greatly improve the performance of soft devices, such as agile flexible robots or microscopic capsules for drug delivery May 17th, 2024

Diamond glitter: A play of colors with artificial DNA crystals May 17th, 2024

Finding quantum order in chaos May 17th, 2024

Oscillating paramagnetic Meissner effect and Berezinskii-Kosterlitz-Thouless transition in cuprate superconductor May 17th, 2024

Patents/IP/Tech Transfer/Licensing

Getting drugs across the blood-brain barrier using nanoparticles March 3rd, 2023

Study finds nanomedicine targeting lymph nodes key to triple negative breast cancer treatment: In mice, nanomedicine can remodel the immune microenvironment in lymph node and tumor tissue for long-term remission and lung tumor elimination in this form of metastasized breast cance May 13th, 2022

Metasurfaces control polarized light at will: New research unlocks the hidden potential of metasurfaces August 13th, 2021

Arrowhead Pharmaceuticals Announces Closing of Agreement with Takeda November 27th, 2020

Environment

$900,000 awarded to optimize graphene energy harvesting devices: The WoodNext Foundation's commitment to U of A physicist Paul Thibado will be used to develop sensor systems compatible with six different power sources January 12th, 2024

Catalytic combo converts CO2 to solid carbon nanofibers: Tandem electrocatalytic-thermocatalytic conversion could help offset emissions of potent greenhouse gas by locking carbon away in a useful material January 12th, 2024

New catalyst could dramatically cut methane pollution from millions of engines: Researchers demonstrate a way to remove the potent greenhouse gas from the exhaust of engines that burn natural gas. July 21st, 2023

Billions of nanoplastics released when microwaving baby food containers: Exposure to plastic particles kills up to 75% of cultured kidney cells July 21st, 2023

Energy

Development of zinc oxide nanopagoda array photoelectrode: photoelectrochemical water-splitting hydrogen production January 12th, 2024

Shedding light on unique conduction mechanisms in a new type of perovskite oxide November 17th, 2023

Inverted perovskite solar cell breaks 25% efficiency record: Researchers improve cell efficiency using a combination of molecules to address different November 17th, 2023

The efficient perovskite cells with a structured anti-reflective layer – another step towards commercialization on a wider scale October 6th, 2023

Water

Two-dimensional bimetallic selenium-containing metal-organic frameworks and their calcinated derivatives as electrocatalysts for overall water splitting March 8th, 2024

Computational system streamlines the design of fluidic devices: This computational tool can generate an optimal design for a complex fluidic device such as a combustion engine or a hydraulic pump December 9th, 2022

Taking salt out of the water equation October 7th, 2022

Scientists capture a ‘quantum tug’ between neighboring water molecules: Ultrafast electrons shed light on the web of hydrogen bonds that gives water its strange properties, vital for many chemical and biological processes July 8th, 2022

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




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project