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Posted: Jul 23, 2012
ItN Nanovation Makes First Container Sales After Successful Tests in the US
(Nanowerk News) The Nanostart holding ItN Nanovation AG has completed testing of its container solutions for wastewater purification in various US federal states. As a result, the first three containers are to be sold to US customers this month. This involves a sales volume in the low six-digit euro range for ItN.
A total of six containers were subjected to several months of tests under different conditions, e.g. weather influences. In two tests, entirely positive results were attained and confirmed by officials, enabling immediate commencement of marketing activities. A need for adaptation to US-specific requirements was identified in the other tests. These modifications are already being implemented, and are scheduled for completion by September 2012. In particular, mechanical and electronic process technology components are being optimized here.
The performance of fine filtration on the basis of ItN’s ceramic membranes has already been impressively demonstrated in all tests. When the second-generation container solution becomes available in the USA in September, this is expected to push sales in the USA even higher. ItN is addressing the US market in conjunction with its marketing partner EIP. This cooperation is set to be intensified following the now completed tests and the initial marketing success.
In the meantime, ItN’s cost-reduction plan is being continued as planned. Staff costs have been cut by around 50% and other operating expenses have been reduced by a similar amount. This will result in total savings of just under €1 million in the third quarter of 2012 alone. On an annualized basis, ItN’s expenses are thus being reduced by €3 million to €4 million, significantly lowering the company’s break-even point.
Dr. Christoph Weiss, CEO of ItN Nanovation: “Following our container tests in the USA, the initial sales success there provides grounds for optimism. It is clear that we can now offer a marketable product in the USA for which we and our sales partner see considerable demand. At the same time, the first positive effects of our cost-cutting measures are coming through. Both of these things can be regarded as a sign that the extensive repositioning of ItN is starting to take effect. Even so, it must be made clear that these are only the first steps towards the market success of ItN, and there are still various stages to go”.
Nanostart AG 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. As main shareholder of Nanostart Asia Pacific Ptd Ltd, Nanostart invests as partner of the Singaporean government.
About ItN Nanovation
ItN Nanovation AG 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.