Svenska Aerogel enters India - Signs cooperation agreement with one of India's largest paint and coatings companies
venska Aerogel AB - listed on Nasdaq First North - has signed an agreement with Chemtech Speciality India pvt Ltd - a leading value added reseller of paint and coating products. The agreement means that Chemtech will develop products based on Svenska Aerogels material Quartzene® together with India's largest paint and coating manufacturers.
Svenska Aerogel is marketing the patented material Quartzene® which is a development of the super-material aerogel. Quartzene® has extremely good insulating properties and effective possibilities for purification by filtration. Quartzene® by Svenska Aerogel has greatly improved the relationship between price and performance compared to other aerogel products, making the price substantially halved without reducing performance.
Chemtech has a strong position in India and addresses the main manufacturers in the paint and coatings industry.
"The agreement with Chemtech gives us the opportunity to quickly get a solid foothold on the Indian market, which is one of the world's largest markets for paint and coatings. Together we will be able to offer affordable products with insulating properties, which is currently lacking and demanding in the Indian market,"says Anders Lundström, CEO Svenska Aerogel.
For further information, please contact:
Anders Lundström, CEO Svenska Aerogel, phone +46 70 656 80 42
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.
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 29, 2017 at 8:00 a.m. CET.