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Posted: August 30, 2010
Nanostart Holding ItN Nanovation AG Successfully Fulfills Large Order For Drinking Water Purification Equipment
(Nanowerk News) Nanostart portfolio company ItN Nanovation AG has successfully fulfilled on schedule the first large order for a customer in Saudi Arabia. The order for CFM Systems ceramic flat-filter membrane technology was announced in May 2010.
Delivery of the nanoceramic filtration units to the customer has now been completed. Order volume totaled nearly USD 500,000.00, and ItN Nanovation has received all resulting payments except for the standard 10 percent guarantee deposit. ItN Nanovation nanoceramics are used as a pre-filter for reverse osmosis membranes. Discussions about additional large-volume orders for the same drinking water treatment plant are nearing finalization.
Nanostart AG, 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.