Proactiveinvestors recommends
Additional Information
Market: XETRA
Sector: General Financial
EPIC: NNS
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Nanostart AG
www.nanostart.de

We undertake equity investments in emerging nanotechnology companies which hold the potential to deliver extraordinary long-term growth. The typical size of our investments is between one and ten million Euros.

Full Nanostart AG profile here
Is NNS a Buy, Sell or Hold?Get your FREE analysis of NNS
Pdf

Nanostart's ItN Nanovation shrinks 2010 losses, increases revenue

27th Apr 2011, 6:50 pm by Deborah Sterescu

Nanotechnology investor Nanostart (OTCQX: NASRY) said Thursday that its portfolio company, ItN Nanovation (FSE: I7N), a water filtration product provider, increased revenues and narrowed losses in 2010.

As a result of cutting costs, ItN's net loss for the year shrunk to EUR5.8 million, down from a net loss of EUR6.1 million in 2009.

The company also generated revenue of EUR2.7 million, compared to EUR2.4 million a year earlier, after adjustment for a division that has since been sold.

In the past fiscal year, the water treatment company has made significant operational progress, especially in terms of its ceramic flat membrane products, known as CFM systems.

The CFM systems are based on nano-ceramic technology, and are used to pretreat water from deep wells so that it can be purified into clean drinking water, using a reverse osmosis process. According to the company, the new systems are designed to replace old sand-based filters and increase drinking water throughput by some 20%.

In the third quarter, the company installed the systems at a drinking water plant in Saudi Arabia, and soon received a follow-up order, it said.

Also in Saudi Arabia, ItN carried out preparatory work in the region for a joint venture with a local investor, and a consortium of German industrial investors. The venture is expected to be finalized this year, with an anticipated earnings effect of around US$2.35 million.

ItN said it expects to have income of more than EUR6.3 million in 2011, primarily a result of its CFM systems. To ensure its expansion, the company is currently carrying out a capital increase, which is estimated to raise EUR11 million in gross proceeds.

ItN also makes nano-ceramic protective coatings, used in a variety of ways, from baking ovens to coal-fired power plants.

Frankfurt-based Nanostart invests venture capital in nanotechnology companies in various development phases. Investments are focused on companies in the cleantech, life sciences and IT/electronics segments.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.