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Ntera acquires Swiss nanotechnology firm
Tuesday, October 09 2001
by Matthew Clark


Irish nanotechnology company Ntera has acquired Swiss-based Xoliox for an equity
stake and cash payment understood to be around EUR4.06 million. 

While the terms of the deal were not released, sources close to the company have
said the cash portion of the deal is approximately EUR4.06 million (CHF6
million). The value of the equity portion of the agreement remains undisclosed. 





"The acquisition will enable Ntera to expand its existing portfolio of
nanostructured film intellectual property and to take a further step towards its
goal of being Europe's leading nanotechnology group," the company said in a
statement. 





Ntera Ltd, formerly known as Nanomat, is a developer of intellectual property
technologies, particularly in the area of nanostructured films. Its two main
products are NanoChromics, a paper quality display technology for the ICT sector,
and NanoLyte, a diagnostic sensor for the healthcare sector. 





The acquisition of Xoliox adds batteries, an additional application domain, to
Ntera's existing product line. Under the terms of the deal Xoliox will continue
to undertake research into nanostructuring of materials for battery applications
in Lausanne, Switzerland, and the founders of the company will continue to work
for Xoliox within the enlarged group. 





Nanotechnology is a field of science whose focus includes the creation of
minuscule machines, devices and computer chips, often with circuits smaller than
one micron (1,000 nanometers). One nanometer is one billionth of a meter, or more
than 50,000 times thinner than a human hair. 







Recent developments by Xoliox have already made the company a recognised leader
in the nanotechnology field. In August, the company announced a technological
breakthrough in battery technology. The company's batteries, which are based on
unique lithiated metal oxide nanomaterials, will have a major impact on the
powering of electric vehicles, power tools and other portable applications. 





Xoliox's batteries have charge and discharge rates that are more than 100 times
faster than conventional lithium ion battery technologies, enabling the battery
to be fully recharged in under one minute. According to the company, the ability
to deliver such a high amount of energy in a short space of time, coupled with
the low cost of the battery, would for the first time make electric vehicles and
hybrid electric vehicles a realistic alternative to the internal combustion
engine. 





"As well as creating significant value in the group, this acquisition
represents a major step forward in Ntera's growth strategy," said Roy Davis,
chief executive of Ntera. He said the acquisition of Xoliox would immediately
enhance Ntera's intellectual property position and would help the development of
other products. 





Dr Francois Sugnaux, co-founder and chief executive officer of Xoliox, said, the
takeover by Ntera would give Xoliox additional "scientific know-how" as well
as managerial experience and capital. 







Ntera Ltd was founded in April 1997 as a spin off from University College Dublin
to develop and commercialise nanotechnology. Since the company's launch it has
raised USD7 million from Cross Atlantic Capital Partners, Evolution Capital and
Private investors. Ntera currently employs 47 and can be found at  http://www.nanomat.ie.



Xoliox S.A. was formed in 1999 as a private company and is based in the
Scientific Park of the Ecole Polytechnique de Lausanne (EPFL), Switzerland.
Xoliox currently employs 12.