Oxonica plc, the UK-based
international nanomaterials group, has announced that it has signed an agreement
to sell Oxonica Energy Limited to Energenics Holdings Pte Limited on terms whereby
there has been a full and final settlement of all legal actions between the
Group and Neuftec Limited.
Ronen Hazarika, CEO of Energenics, said, “We are delighted that the
acquisition has successfully completed. This acquisition will deliver critical
mass to our European fuel additive business and we look forward to integrating
Oxonica Energy’s staff & customers into the Energenics family and
also extending the range of energy saving products available to the customer
Oxonica is a nanomaterials group with products already launched into international
markets. The Group also generates licence and development revenue from activities
in the UV protection, clinical diagnostics and security markets.