Nanotechnology Now - Press Release: Nanostart-holding ItN Nanovation AG bindingly receives two big orders from Saudi Arabia

Home > Press > Nanostart-holding ItN Nanovation AG bindingly receives two big orders from Saudi Arabia

Abstract:
- total volume above 4.5 Mio. Euro
- implementation of the projects planned within 2013
- replacement of conventional polymer filters in drinking water projects of Buraydah City
- signal for further project successes in Saudi Arabia

Nanostart-holding ItN Nanovation AG bindingly receives two big orders from Saudi Arabia

Frankfurt / Saarbrücken, Germany | Posted on August 7th, 2013

Nanostart-holding ItN Nanovation AG (ISIN DE000A0JL461) today has bindingly received via its local agent Juffali Chemical Products Co. two big orders for ItN flat membrane filters (CFM Systems) for a total of more than 4,5 Mio. Euro (converted).

The orders which are provided in written form are for the replacement of the previously used polymer membranes of two notable international companies by high-performance and efficient ItN filters in the deep ground water projects Buraydah und Buraydah North. Here the ItN flat membranes were extensively tested in the last years. The now completed orders therefore can be seen as a signal.

Both orders are to be implemented still within 2013. For that purpose flat membranes will be used which were already delivered and invoiced to Juffali Chemical Products Co. for one third in the years of 2011 and 2012. The remaining order volume is expected to be booked for the most part in the current financial year and backed with payment receipts.

The CFM-equipped plants in Buraydah enable the daily filtration and treatment of around 100,000 cubic meters drinking water. This corresponds - in the high and above average consumption per capita in Saudi Arabia - to a need of about 500,000 persons.

Some weeks ago ItN has already announced a conditional confirmation letter of the local general contractor for the delivering volume of around 4.0 Mio. Euro (converted) for the Humaima project in Saudi Arabia. The finalisation of this order is also expected to be implemented within a short period of time.

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About Nanostart AG
Nanostart AG is a leading nanotechnology venture capital company. The company invests venture capital (VC) in promising young nanotechnology companies. Nanostart invests globally and at different phases of development. Emphasis of investments is on especially innovative industries such as cleantech, life sciences, and IT/electronics. Nanostart invests either directly in nanotechnology companies or through a regional nanotechnology fund. The headquarters of Nanostart AG is in Frankfurt, Germany.

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.

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 Canada, Australia, or Japan.

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Contacts:
Nanostart AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Goethestrasse 26-28
60313 Frankfurt/Main
P: +49 69-21 93 96 111
F: +49 69-21 93 96 150

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