GIN to enter in water purification business by acquiring Green Rock Ltd

Global Innovation Network Ltd. ( GIN ), Oulu, which started its operations in September 2011 has made a  letter of intent with Green Rock Ltd.’s main shareholders to acquire Green Rock Ltd., a manufacturer and seller of waste water purification and oil cleaning technologies.  By this acquisition GIN will strengthen the market position and development of Green Rock product family IISI, mainly on waste water purification market in Finland, the Nordic Countries and Russia.

IISI-products have been proven to be highly efficient in waste water purification and by this acquisition we want to be sure that the future development will continue strongly says GIN CEO Teijo Fabritius.  We will develop the cleaning and energy efficiency of IISI-products to better face the future needs of customers by using the most advanced sensor technologies.  Our goal is to further improve the ease of use of the IISI (easy) product range to enable even smoother product control by automatic sensoring.  CleanTech is not widely shared term to public. With this acquisition CleanTech is taken to everyday consumer use in waste water treatment.

The acquisition includes the GreenOil product family for oil absorption and spill containment. GreenOil is approved by the United States Environmental Protection Agency.

Acquisition will be finalized by the end of 2011.

Global Innovation Network Ltd. ( GIN ) is owned by its management and JOT Automation Ltd. GIN focus on MedTech and environmental technologies: Point Of Care diagnostics, water analysis and water purification.  Global Innovation Network Ltd. is headquartered in Oulu, Finland. 

Additional information

CEO     Mr. Teijo Fabritius,  +358 40 565 1782
VP, Marketing & Sales  Mr. Matti Koivu,  +358 400 544 376