First Container Sales after successful tests in the US
ItN Nanovation AG (ISIN DE000A0JL461) has finished tests of its Container solutions for water treatment in various states of the US. As a result the first three containers will be sold to American customers this July, entailing a low- six-figure turnover for ItN.
A total of six containers had been subjected to tests under different conditions, e.g. harsh weather, for several months. In two tests, the results were altogether positive, which was confirmed by the authorities, so that sales could start. Necessary adjustments to US-specifics were identified in the other tests, which have already been initiated. This phase, comprising optimization of mechanical and electrical components, is to be completed by September 2012.
The Performance of ultrafiltration on the basis of ItN's ceramic membrane has been convincingly proven in all tests. A significant increase in sales on the U.S. market is therefore expected when the second generation of the container is available in September. ItN adresses the U.S. market together with its partner EIP, a cooperation which is to be intensified after the succesful finalization of tests and the first successful sales.
Meanwhile, the cost reduction program at ItN is progressing on schedule. Personnel expenses have been reduced by 50%, other operating expenses have been decreased at a similar rate. This will lead to overall savings to the amount of one million Euros in the third quarter of 2012. For the entire year the expenses of ItN will decrease by 3 to 4 Million Euros, leadig to a significantly lower point of break even of the company.
Dr. Christoph Weiss, CEO of ItN Nanovation: „The first successful sales in the U.S. after tests of our containers make us optimistic. This shows that we can offer a market-ready product in the United States, for which we see considerable demand together with our sales partner. At the same time, our cost reductions are beginning to show first positive effects. Both are to be interpreted as signals that the repositioning of ItN is beginning to bear fruit. However, it has to be clear that these are only the first steps towards a market success of ItN. Several stages still lie ahead of us.“