Nanotechnology Now - Press Release: Nanostart-held ItN Nanovation Receives Major Follow-on Order in Saudi Arabia

Home > Press > Nanostart-held ItN Nanovation Receives Major Follow-on Order in Saudi Arabia

Abstract:
* Superior performance of CFM Systems(R) nanoceramic-based water filtration technology

* Company sees strong prospects for additional orders

Nanostart-held ItN Nanovation Receives Major Follow-on Order in Saudi Arabia

Frankfort, Germany | Posted on November 29th, 2010

ItN Nanovation AG (ISIN DE000A0JL461), a portfolio company of Nanostart AG (otcqx:NASRY), has been awarded a major follow-on contract in Saudi Arabia for its CFM Systems(R) nanoceramic flat filter membrane system. The same customer who placed an initial order for this breakthrough water filtration technology in May of this year has now signed a follow-up contract approximately twice the size of the first order. It is expected that the new order, which totals almost USD 1.1 million (approx. EUR 0.8 million), will be reflected in the company's financial results for the first quarter of 2011. Furthermore, following the demonstrated success of the first project, ItN Nanovation was able to reach agreement on higher pricing.

The follow-on order is strong testimony to the superior technical performance and operating economics of CFM Systems(R). Even with this major second order, less than half of the water treatment plant will be outfitted with CFM Systems(R) flat filter membranes, and thus the company sees excellent prospects for additional major orders from the customer in the coming quarters, which are already under discussion. Within this arid region are a number of similar water treatment plants which would likewise be highly suitable for CFM Systems(R).

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 Canada, Australia or Japan.

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Contacts:
Public Relations
Dr. Hans Joachim Durr
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122

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