ItN Nanovation

ItN Nanovation AG is a German nanotechnology company headquartered in Saarbrücken. Its core business is the research, production, trading and marketing of nanoparticles and their by-products and downstream products. The company was founded as ItN Nanovation GmbH on 23 March 2001, initially focusing on coatings for industrial applications and water filtration solutions. It converted into a stock corporation (Aktiengesellschaft) on 20 April 2006 and listed on the Prime Standard of the Frankfurt Stock Exchange on 28 July 2006, at which time it employed 60 people. The company's shares later traded in the General Standard and were included in the CDAX index. In 2012 the coatings business was spun off into Ceranovis GmbH, and ItN Nanovation concentrated on water filtration. Despite international projects — for example deep-water filtration in Saudi Arabia, post-filtration in wastewater treatment plants and process water treatment — the company recorded operating losses in the millions over several years. In 2016 the former main owners sold all their shares to the Chinese company SafBon Investment. For around EUR 4 million (purchase price and capital increase) plus a EUR 500,000 bridge loan, an insolvency was averted. With the new investor, the company planned to build up production and a development department in China. In November 2018 the management board again determined that insolvency was imminent, but a commitment of financial support from SafBon Investment prevented an insolvency filing at that time. On 8 April 2021, an insolvency application was filed at the Saarbrücken Local Court due to illiquidity and overindebtedness. The company had already attracted critical press attention shortly after its IPO: in March 2007, Spiegel Online warned about "dubious shares" in the nanotechnology start-up sector, describing them as "fool-catching in dotcom style". The shares had been allotted at EUR 20 each and traded between EUR 15.30 and EUR 29.00 in 2006. By November 2019 the share price had fallen to EUR 0.25, a decline of about 98.8% since issue.

ItN Nanovation was founded as ItN Nanovation GmbH on 23 March 2001. Its initial focus was on coatings for industrial applications and water filtration solutions. On 20 April 2006 the company was converted into a stock corporation (Aktiengesellschaft). On 28 July 2006 it went public on the Prime Standard of the Frankfurt Stock Exchange. At the time of the IPO, ItN Nanovation employed 60 people. In 2012 the coatings business was spun off into Ceranovis GmbH, and ItN Nanovation concentrated on water filtration. Despite international projects — such as deep-water filtration in Saudi Arabia, post-filtration in wastewater treatment plants and process water treatment — the company recorded operating losses in the millions over several years. In 2016 the former main owners sold all their shares to the Chinese company SafBon Investment. For around EUR 4 million (purchase price and capital increase) and a bridge loan of EUR 500,000, an insolvency was averted. With the new investor, the company planned to build up production and a development department in China. In November 2018 the management board again determined that insolvency was imminent. However, a commitment of financial support from SafBon Investment prevented an insolvency filing at that time. On 8 April 2021, an insolvency application was filed at the Saarbrücken Local Court due to illiquidity and overindebtedness. The company's shares had been traded in the General Standard and were included in the CDAX. As early as March 2007, only a few months after the IPO, Spiegel Online critically examined the business model of nanotechnology start-ups and warned of their "dubious shares" as "fool-catching in dotcom style". The shares had been allotted at EUR 20 each and the price fluctuated between EUR 15.30 and EUR 29.00 in 2006. As of November 2019, the price was still EUR 0.25, meaning the share had fallen by about 98.8% since issue.

• Founded as ItN Nanovation GmbH.

• Converted into a stock corporation (Aktiengesellschaft).

• IPO on the Prime Standard of the Frankfurt Stock Exchange; 60 employees at the time.

• Coatings business spun off into Ceranovis GmbH; focus shifted to water filtration.

• Former main owners sold all shares to Chinese company SafBon Investment; insolvency averted with ~EUR 4 million and a EUR 500,000 bridge loan.

• Management board determined imminent insolvency; SafBon Investment's financial support commitment prevented a filing.

• Insolvency application filed at Saarbrücken Local Court due to illiquidity and overindebtedness.

German nanotechnology company specializing in nanoparticles and water filtration, listed on the Frankfurt Stock Exchange before filing for insolvency in 2021.

• Nanoparticles

• Water filtration solutions

• Coatings for industrial applications

1. 1ItN Nanovation - Wikidatawikidata.org
2. 2ItN Nanovation - Wikipedia (German)de.wikipedia.org