Industry News

H.B. Fuller Ventures Fund Invests in AgION Technologies

Published on 2005-09-13. Author : SpecialChem

ST. PAUL, Minn.-- H.B. Fuller Company (NYSE:FUL) announced that its corporate venture fund, H.B. Fuller Ventures, has invested in AgION Technologies, Inc. Based in Wakefield, Mass., AgION Technologies is the maker of AgION™, a silver-based antimicrobial compound.

"One of our 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 believe that AgION has among the best antimicrobial technology available and that collaborating with them will benefit several of H.B. Fuller's core businesses. We see potential for using this technology with our construction, powdered coating and adhesive products."

James Griffin, president of H.B. Fuller's Specialty Construction Brands, Inc., will join AgION's Board of Directors.

The patented AgION technology is composed of naturally occurring silver ions and a ceramic material called a zeolite. Whether it is incorporated as an additive or applied as a coating, the AgION compound can increase a product's lifetime or enhance a product's performance.

The AgION compound is used by more than 60 corporations worldwide, including adidas, AK Steel, Carrier, DuPont, Enodis, Everpure, Honeywell and Vygon. AgION's technology can be found in a variety of products including, water filtration systems, appliances, sportswear, HVAC components, medical devices, textiles and insulation, food processing and packaging, and other medical, consumer and industrial products.

Since its founding in 1997, AgION has raised $40.5 million from private investors and others, including Motorola Ventures, the venture capital arm of Motorola Inc., and Paladin Capital Group.

About H.B. Fuller Ventures Fund and H.B. Fuller Company

Launched in March 2003, H.B. Fuller Ventures Fund is the corporate venture fund of H.B. Fuller Company. The fund makes investments in companies that provide new product opportunities or technology platforms linked to the company's business strategy. Previous H.B. Fuller Venture investments include: SAGE Electrochromics, Inc., based in Faribault, Minn. SAGE develops, manufactures and markets electrochromic glass, which enables users to electronically control the amount of light and heat that pass through glass, without altering its transparency. The fund has also invested in EcoSynthetix, which offers bio-based replacements for synthetic polymer-based adhesives, inks and other everyday products, and Nanosys, a developer of nanotechnology systems that exploit the unique chemical, electronic, optical and processing properties of materials.

H.B. Fuller Company is a 118-year-old worldwide manufacturer of adhesives, sealants, coatings, paints and other specialty chemicals with corporate headquarters in St. Paul, Minn. Fiscal 2004 net revenue was $1.410 billion. Common stock is traded on the New York Stock Exchange under the symbol FUL.

Source: H.B. Fuller Company

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