Partnership to span major European markets. Significant initial revenues expected already in 2011. ItN Nanovation AG, a Nanostart portfolio company, has signed an exclusive cooperation agreement with ThyssenKrupp Xervon Energy GmbH covering the marketing and distribution of the Nanocomp PP product line from ItN Nanovation. This innovative solution uses the company’s proprietary nanoceramic technology as a protective coating for the combustion chambers and downstream areas of power plants. The cooperation will address the needs of fossil fuel-fired power plants and scrubbers; incineration plants for trash, hazardous waste, biomass and sewage sludge; and high-temperature industrial production facilities for glass, cement and metals. In addition to Germany, the home market for both companies, the partnership will extent to Spain, Italy, Poland, the Benelux countries and various southeast European countries.
Under the terms of the agreement, ThyssenKrupp Xervon Energy will contribute its extensive market access and local presence throughout these countries, while ItN Nanovation will provide its Nanocomp PP technology on an exclusive basis, along with related training. The agreement excludes existing customers of ItN Nanovation.
ThyssenKrupp Xervon Energy GmbH is one of the world’s leading service providers to the power generation industry. The company is a 100% subsidiary of ThyssenKrupp Xervon GmbH.
Nanostart AG, 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.