Aerogel signs cooperation agreement with Chinese Chempons - Launches Aerogel solution in China fourth quarter this year
Nasdaq First North-listed Svenska Aerogel has signed a cooperation agreement - a Letter of Intent - with Chempons, a Chinese manufacturer specializing in thermal insulation. Already in November this year, Chempons intends to launch a heat-insulating specialty paint - based on Svenska Aerogel's patented aerogel, Quartzene®, at the China International Exhibition China Coat.
Aerogel has developed patented methods that make it commercially profitable to use the versatile super material Quartzene® in new areas. High performance paint and coatings is a priority area for Svenska Aerogel.
"This agreement is important for Svenska Aerogel. With Chempons we will be able to quickly reach the Chinese market for special paint and coatings, which is one of the world's largest and fastest growing markets," says Anders Lundström, CEO Svenska Aerogel.
The global market for this type of products is expected to grow from 48 MDSEK annually to 80 MDSEK annually (2017-2021). China alone accounts for 35% of that market. (Source Markets & Markets)
Svenska Aerogel is a commercial enterprise with a solid foundation in R&D. The company has developed and commercialises Quartzene® in several business areas, primarily Insulation, Paint&Coatings, and Filtration. The Quartzene® material is produced using a flexible, eco-friendly and very cost-efficient method. Svenska Aerogel has developed several variations of Quartzene®, and both the product and method are patented. Commercialisation takes place in close cooperation with industrial partners that represent various important business areas. Svenska Aerogel was introduced on Nasdaq First North in December 2016. FNCA is the designated Certified Adviser for Svenska Aerogel.
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Svenska Aerogel is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of CEO Anders Lundström on Sept 8, 2017 at 8:00 a.m. CET.