- Key conditions set for further growth
- Significant boost for financial basis
- Sharp rise in incoming orders
Frankfurt / Saarbrücken – August 31, 2011 – The Nanostart equity investment ItN Nanovation AG (ISIN DE000A0JL461) has established a solid foundation for the company’s further growth in the first half of 2011. The capital increase completed in May and the associated investment by the Russian state-owned RUSNANO have allowed ItN Nanovation to significantly strengthen its capital basis for its anticipated future growth and given it a strategic partner with which to tap the Russian market. This capital increase with pre-emptive subscription rights brought the company a total gross figure of €11 million in fresh funding.
After sales of €0.7 million in the first half of the year, incoming orders of around €1.4 million were recorded in July alone. The positive development is predominantly the result of rising acceptance for ceramic flat filter membrane systems, CFM Systems, which received orders for two filtration facilities and to replace its first sand filter in July.
Sales for coatings continued to develop very well thanks to the anticipated rise in demand for the Nanocomp Metcast product line. As a result, ItN Nanovation generated sales increases of around 35% for coatings in the first half of the year.
The earnings for the first six months of 2011 were still shaped by the company’s focus on its forecast future growth and the costs incurred in connection with the capital increase. Accordingly, there was a net loss for the period of €?3.5 million.
After the end of the reporting period, ItN Nanovation began its own practical testing of the advanced pre-series variant of its container solution for the treatment of municipal sewage. This plug & play solution will also open up additional unit sales potential in Europe, the Middle East and rural areas of the US. ItN Nanovation feels that the US in particular is an interesting target market, which is why six ItN container solutions will begin local practical testing there before the end of this year.
On the basis of its activities in the first six months and the excellent order development in July, ItNNanovation is assuming very strong sales growth in the second half of 2011.
The 2011 six-month report is available for download from the company’s Investor Relations area at www.itn-nanovation.com.
About Nanostart:
Nanostart AG is the world’s leading nanotechnology investment company. Headquartered in Frankfurt/Main, it invests venture capital in nanotechnology companies in various development phases. Investments focus on companies in the most innovation-driven segments: cleantech, life sciences and IT/electronics. Through its wholly-owned subsidiary in Singapore, Nanostart invests in nanotechnology companies in Asia in conjunction with the government of Singapore. For more information on the company, please visit www.nanostart.de.
About ItN Nanovation:
ItN Nanovation AG is one of the world’s top 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 and 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.
Disclaimer:
This report 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 on the Frankfurt Stock Exchange. This report does not constitute a securities prospectus. This communication and the information it contains are not meant to be directly or indirectly forwarded to or within Canada, Australia or Japan.
Press contact:
Nanostart AG
Dr. Hans Joachim Duerr
Head of Corporate Communications
Goethestrasse 26-28
60313 Frankfurt/Main
Phone: +49 (0) 69 21 93 96 111
Fax: +49 (0) 69 21 93 96 150
E-mail:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
