New York (HedgeCo.net) – Nanotechnology company ItN Nanovation AG, a portfolio company of nanotechnology hedge fund investor, Nanostart AG, has successfully completed another major project in Saudi Arabia using its CFM Systems® nanoceramic-based filtration system for water purification.
“In addition to the incremental revenue impact of roughly EUR 0.8 million, ($1.12 million) the project is of great significance because it proves the economic and technical superiority of the company’s unique flat filter membrane technology in real day-to-day operation.” Nanostart said.
The CFM Systems®filter units are used to pretreat water from deep wells so that it can be subsequently purified into clean drinking water using a reverse osmosis process. A significant additional advantage is that drinking water throughput is increased by some 20 percent. This is of great importance because of the relatively high cost of reverse osmosis plants for water purification.
Nanostart 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 hedge fund in Singapore, Nanostart is the investment partner of the Singaporean government.
Alex Akesson
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