ItN Nanovation signs cooperation agreement with SJE Rhombus
Saarbrücken (euro adhoc) -
Exclusive marketing of CFM systems in North America Combination of SJE control technology and ItN flat filter membranes ItN Nanovation expected to see almost EUR 1m in additional sales in 2009 Demand driven by increasing water shortage in North America
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cooperations
ItN Nanovation AG (ISIN DE000A0JL461) has signed a cooperation agreement with SJE Rhombus, a market leader for control solutions in the water and waste water sector in the USA. The deal will see SJE Rhombus take over exclusive marketing of ItN Nanovation´s ceramic flat filter membrane (CFM) systems in the USA, Canada and Mexico. The flat filter membrane systems will be combined with the proven control solutions of SJE Rhombus that are already long established on the market. The contract between ItN Nanovation and its American partner lays down minimum order quantities that will bring ItN Nanovation sales of just under EUR 1m in the coming year alone. Growth rates of some 40 per cent per annum are expected for the next 5 years. Demand for water treatment solutions such as those offered by CFM systems for use in central and decentralized small-scale water purification plants is expected to rise further on the back of the increasing shortage of water in many parts of North America.
The cooperation marks a further milestone in ItN Nanovation´s strategy of driving the market introduction and penetration of its own products with strong, market-leading partners to deliver economic success.
Dr. Tillmann Lauk, CEO of ItN Nanovation AG, says: "The cooperation agreement is evidence that SJE Rhombus believes in the technological superiority of our CFM systems and in the associated marketing potential. It´s no coincidence that our partner has already declared a willingness to assume the costs of the Title 22 certification required in the USA. SJE Rhombus is thus making a six-figure investment in the commencement of our collaboration."
end of announcement euro adhoc
Further inquiry note:
Jochen Hoeg
Investor & Public Relations Manager
Telefon: +49(0)681 5001-566
E-Mail:jochen.hoeg@itn-nanovation.com
Branche: Technology
ISIN: DE000A0JL461
WKN: A0JL46
Index: CDAX, Prime All Share, Technologie All Share
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