Israeli company Nanosono, which has developed antibacterial and anti-virus materials (including masks protecting against Covid), has announced that it has received an investment of several million dollars from Turkish company ODAS. The investment will be used to set up a joint factory in Turkey for antibacterial materials as well as for further development of its technology at its RD center in Yokneam.
The products manufactured at the new factory in Turkey will be marketed by the two companies in Israel, Asia and Europe.
ODAS is a large Turkish company that operates in range of industries including energy and mining. The company is listed on the index of the 100 largest companies traded on Borsa Istanbul Stock Exchange.
Nanosono was founded in 2015 by Ronen Sarusi and is owned by the Sarusi family and AHG Group, an American family office and Michael Mirilashvili (one of the founders of Channel 20).
Odas CEO Burak Altay said, “The collaboration will contribute to the realization of ODAS’s vision of providing groundbreaking solutions in various industries. Nanosono’s unique platform that is at the forefront of technology along with our advanced industrial capabilities and our talented engineers will take the textile market to the next level.”
Nanosono CEO Ori Bar Chaim said, “This is a significant milestone in Nanosono’s business growth on the way to becoming a leading global player in the antibacterial textile market. I have no doubt that the joint development will provide great value to advanced antibacterial brands in the textile market, particularly in the current era when demand for antibacterial solutions is at its peak.”
The antibacterial market has been growing in recent years, among other things because of its advantages in preventing infections in hospitals that have been becoming more and more problematic as bacteria become more resistant to antibiotics. Bar Chaim said that Nimrod Arad, a member of the Israel-Turkey Chamber of Commerce connected up the two companies.
Nanosono chairman Aaron Gorovitz said, “We are preparing to deliver advanced antibacterial fabrics from the production lines in Turkey to other markets around the world. As a result of the signed agreement and other developments, we expect to double our company’s value to $100 million by the end of 2022.”
Published by Globes, Israel business news – en.globes.co.il – on December 2, 2021.
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