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Nanostart-held ItN Nanovation receives equity commitment to support continued growth

Fri, 12/10/2010 - 10:23am
Medical Design Technology

Under the agreement, ItN Nanovation has the right to issue new shares to YA Global in one or more tranches over the next three years for a total amount of up to EUR 15 million, thereby ensuring that it has a strong equity capital base to support its ongoing growth.

ItN Nanovation retains full discretion as to whether, and to what extent, it exercises these rights. The agreement thus provides the company with a high degree of flexibility in its financial planning, enabling it to capitalize on growth opportunities as they arise.

“We are excited to provide ItN Nanovation AG the ability to obtain the necessary capital for its near term obligations. With its innovative technology for water purification, the Company has a compelling product ready to address a large and critical market need around the world.” said Dr. Michael J. Nowak, managing director of Yorkville Advisors.

“We welcome this equity commitment from Yorkville,” added Marco Beckmann, CEO of Nanostart AG. “It provides ItN Nanovation not only with financial security but also with the financial maneuverability it now needs in the expansion phase.“

In addition to strengthening its overall capitalization, ItN Nanovation sees particular benefit in having the additional funding resources to invest capital into new projects as they arise that promise attractive returns, particularly in the context of the continued international marketing of its CFM Systems® nanoceramic flat filter membrane system.

About Nanostart:

Nanostart AG (OTCQX: NASRY), 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.

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