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| BASF Venture Capital GmbH invests in Deutsche Rohstoff AG
BASF Venture Capital GmbH, Ludwigshafen, is investing in Deutsche Rohstoff AG, Heidelberg. Deutsche Rohstoff AG, a private company, is primarily involved in exploration of industrial metals, precious metals and rare earth elements | |||
| 8 May 2008
: BASF Venture Capital GmbH, Ludwigshafen, is investing in Deutsche Rohstoff AG, Heidelberg. Deutsche Rohstoff AG, a private company, is primarily involved in exploration of industrial metals, precious metals and rare earth elements, and has access to proven raw material reserves. Deutsche Rohstoff AG's current portfolio includes rights to various ore deposits in Germany whose main resources are tin, tung-sten, copper, zinc and the rare earth elements cerium and lanthanum. The company is also involved in international exploration projects. Deutsche Rohstoff's aim is to establish itself as a German-based raw material producer. In the current financing round, Deutsche Rohstoff raised €4 million, of which €2 million was contributed by BASF Venture Capital. The in-vestment provides BASF with long-term options for further access to rare earth elements and metal raw materials. Rare earth elements have unique catalytic, optical and magnetic properties, and in recent years have become established as important components of many high-tech products such as flat screens, energy-saving light bulbs and hybrid motors. At BASF, rare earth elements are primarily used to manufacture automotive and industrial catalysts. The strong global demand for industrial metals and rare earth elements in recent years has led to a supply shortage and sharp price increase for these resources. "The investment in Deutsche Rohstoff AG is an exciting pilot project to supplement our long-term supply for metals and rare earth elements," comments Roberto Gualdoni, head of Global Procurement Raw Materials at BASF. "We see good prospects of achieving that goal with the highly qualified management of Deutsche Rohstoff AG, which has an excellent network of cooperation partners in the mining industry," adds Dr. Bernhard Mohr, Investment Manager with BASF Venture Capital GmbH. "We are pleased about the investment of BASF Venture Capital GmbH, which is an important partner for us," says Dr. Titus Gebel, co-founder and Chief Executive Officer with Deutsche Rohstoff AG. "BASF Venture Capital GmbH has longstanding expertise in the development of young companies like Deutsche Rohstoff AG and can provide excellent sup-port for the future development of our business." About Deutsche Rohstoff AG Deutsche Rohstoff AG is specialised in developing attractive commodity deposits in Germany, Europe and North America. The corporation holds rights in deposits of valuable industrial metals such as tin, tungsten, copper, zinc and rare earth elements as well as precious metals such as gold and silver. Through its associated company Rhein Petroleum GmbH the private stock corporation explores oil and gas accumulations mainly in Germany in collaboration with experienced partners. Setting up a Germany-based commodity producer stands for Deutsche Rohstoff AG’s prime objective. For any further information on Deutsche Rohstoff AG log on to www.rohstoff.de. About BASF Venture Capital GmbH BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF Future Business GmbH, Ludwigshafen, Germany, with the aim of exploring new growth potentials based on investment in startup companies and funds. BASF Venture Capital GmbH's financial commitment per company is in the range of one to five million euros, with active support provided for young start-ups. BASF Venture Capital GmbH selects businesses for investment whose success factors include innovative chemistry-based solutions and which are of strategic interest for BASF. More informa-tion about BASF Venture Capital GmbH is available at www.basf-vc.de. About BASF BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF has more than 95,000 employees and posted sales of almost €58 billion in 2007. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com. |
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