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EMV portfolio company Nanotech Industrial Solutions (NIS) attracts investment from global specialty chemicals company Evonik
EMV portfolio company Nanotech Industrial Solutions (NIS) attracts investment from global specialty chemicals company Evonik.
• Venture Capital investment includes commercial agreement
• Unique particle technology reduces friction and wear to significantly contribute to engine efficiency
• Evonik’s Oil Additives Business Line expects access to this unique technology to bring high strategic advantage for future market opportunities
London, UK January 18th, 2017 – Evonik Industries has invested through its venture capital arm in Nanotech Industrial Solutions, Inc (NIS), an EcoMachines Ventures portfolio company.
Nanotech Industrial Solutions President and CEO Eugene Kverel, commented:
“Today’s announcement marks a key milestone in NIS’ journey to take cutting edge nanotechnology into the lubricant industry. Working together, we [NIS] and Evonik will take to market transformational products in the lubricant additives industry and beyond”, commented Eugene Kverel, President and CEO of NIS.
NIS produces oil additives for engine oils, oil and water formulations for metalworking lubricants, industrial oils and additive formulations for greases. NIS’ patented technology releases nano structured materials under certain physical conditions. The unique morphology significantly improves friction and wear properties, resulting in a substantial contribution of the technology to resource efficiency of cars, power plants and industrial plants. “By investing in this company, Evonik gains access to inventions in a unique particle technology in lubricants” said Lutz Stoeber, responsible for Evonik’s Venture Capital activities in North America. An additional strategic fit to Evonik results from the potential of the new technology to bring groundbreaking inventions to the lubricants market.
Ralf Düssel, head of the Business Line at Evonik commented:
“Evonik believes that the investment offers the chance to fulfill even more demanding customer requirements. What’s more, access to the technology of NIS opens up further development opportunities for our current products as well as new products in our existing and also future markets.”
As part of the investment, NIS and the Oil Additives Business Line completed a commercial agreement. Lutz Stoeber is joining the NIS Board of Directors.
Nanotech Industrial Solutions Vice President of Global Sales and Marketing Todd Cawley commented:
“Our patented nanotechnology is already making a massive impact with customers around the world and to have on board such a recognized company like Evonik will only add to our global presence.” Todd Cawley continues, “Evonik is known to be one of the world’s most innovative companies and to have them as a key investor in NIS is a further step in our substantial growth.”
Evonik’s Oil Additives Business Line develops additive technologies for improving fuel and energy efficiency as well as productivity in engine and gear oils as well as driveline fluids. In its work, the Business Line focuses on solutions that contribute to the resource-efficient lubricants of tomorrow.
EcoMachines Ventures CEO, Dr. Ilian Iliev commented:
“We are excited by the pace at which NIS is developing into a market leader. The support of a leading industry player such as Evonik will help the company grow faster and into many more markets”. EcoMachines Ventures, an early investor in NIS, advised on the investment and assisted with the structuring of the transaction.
Evonik’s Oil Additives Business Line develops additive technologies for improving fuel and energy efficiency as well as productivity in engine and gear oils and driveline fluids. It focuses on solutions that contribute to the resource-efficient lubricants of tomorrow.
Evonik plans to invest a total of €100 million in promising start-ups with innovative technologies and in leading specialized venture capital funds. Regional focuses are Europe, the United States and Asia. Currently, Evonik holds stakes in ten start-ups and four funds as part of its venture capital acitvities. More information is available at http://venturing.evonik.com/.
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Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2015 more than 33,500 employees generated sales of around €13.5 billion and an operating profit (adjusted EBITDA) of about €2.47 billion.
Nanotech Industrial Solutions is the manufacturer of an innovative line of nano lubricants, additives, metal working fluids greases and coatings based on inorganic particles of fullerene-like tungsten disulfide. This revolutionary invention was first developed in 1992 by Prof. Reshef Tenne who was nominated for a Nobel Prize. This invention is exclusively licensed to Nanotech Industrial Solutions for manufacturing and commercialization worldwide. NIS has attracted the best minds in the fields of nano technology, chemistry, and various targeted industry applications like lubricating oils, greases, coatings, metal working fluids, polymers and composites. NIS's global corporate office, commercialization R&D lab, manufacturing, blending and packaging facilities are located in Avenel, NJ. For more information visit http://www.nisusacorp.com/
About EcoMachines Ventures
EcoMachines Ventures is a London-based investor and corporate finance advisor with global reach active at the seed through early growth stages of investment. We foster the development of world-class businesses with innovative solutions in the Energy, Industrial High-tech, Transport, Circular Economy and Smart City sectors. Working as a strategic partner alongside successful entrepreneurs and corporate partners, we support and help promising companies accelerate through the next stage of their growth. Learn more at http://www.ecomachinesventures.com.
EcoMachines Ventures will be serving as Exclusive Advisor to a new EIS Fund focusing on industrial high-tech investment opportunities in the UK.
For more information, additional images or interview opportunities contact:
Dr. Ilian Iliev, CEO & Co-founder
+44 (0)203 761 6138