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February 7th, 2005
Oxonica Limited, a diversified nanotechnology materials company with operations in fuel technology and biotechnology,
reported that it had raised approximately 2.7 million British Pounds. The funds were raised through the issuance of new ordinary
shares, which included shares issued to employees of the company. The investment was underwritten by Seighford Investment
Company Limited and Mr. Richard Farleigh, both original investors in the company. The offering was reported to be well supported
by the company’s three largest investors, BASF Venture Capital GmbH, Foresight Technology VCT and TriVest VCT.
The funds are planned for the product marketing of the
company’s Envirox Fuel Borne Catalyst and Optisol UV Absorber. The fuel product, which has been selected for use in
Stagecoach Group’s bus fleet, offers a potential fuel economy savings of up to 10 percent. Stagecoach Group plc, based
in the United Kingdom, operates around 16,000 vehicles
Oxonica Limited also has signed a distribution agreement
with DMX Technology Corp to distribute the fuel product in partnership with BASF. The diesel fuel saving additive will be
distributed in the Philippines. Additionally Optisol reports that its ultraviolet skin protection product, UV Absorber, was
selected by Boots Group, a company also based in the United Kingdom. Boots has over 75,000 employees and product sales in
over 130 countries. Boots will use the product in a range of sun care products.
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