H.B. FULLER, BASF INVEST in AgION Technologies, Inc.
Published November 3, 2005
AgION Technologies, Inc. has received financing from BASF Venture Capital and H.B. Fuller Ventures. AgION will use the equity financing to expand its product development, sales and marketing efforts.
As part of this new funding, James Bullock, development group leader at BASF Biocides Limited, and James Griffin, president of H.B. Fuller’s Specialty Construction Brands, Inc., will join AgION’s board of directors.
“Both BASF Venture Capital and H.B. Fuller Ventures have thorough knowledge of the antimicrobial marketplace and will be invaluable partners in shaping the future of our company,” said J. Ladd Greeno, president and CEO of AgION Technologies. “Their investments will help further the development of our antimicrobial technology and support the growth of our additives and upgrade solutions businesses.”
According to Bullock, “AgION’s antimicrobial technology has an “attractive safety profile” and has regulatory approvals in both the U.S. and Europe.
AgION antimicrobial compound is an advanced inorganic antimicrobial solution, comprised of naturally occurring silver ions and zeolite. It provides a safe, continuous, long-lasting protection against microbes by releasing silver ions to the surface at a slow and steady rate, according to its developers. It can be incorporated as an additive or applied as a coating.
“One of our key global priorities is the use of antimicrobial technology in commercial and industrial construction, so our investment in AgION was a natural fit,” said Bob McGrath, managing director of H.B. Fuller Ventures. “Silver has a long history of successfully combating microbes and AgION’s antimicrobial has been proven not only effective, but safe, cost-effective and long-lasting in a variety of industrial and consumer applications. We look forward to supporting the company’s continued growth and success.”
AgION compound is used by more than 60 corporations worldwide—including Adidas, AK Steel, Carrier, DuPont, Everpure, Honeywell an
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