I-Tech selected to participate in Sweden Sustaintech Venture Day 2020
I-Tech AB (publ) (ticker: ITECH) has been selected to participate in the Sweden Sustaintech Venture Day 2020 in Stockholm on February 6, 2020.
The Swedish Energy Agency, Nasdaq, Business Sweden and the UN agency World Energy Council are among the organizers and event partners.
At the event, Sweden's leading sustainability innovation companies will meet Swedish and international investors. I-Tech is one of thirty sustaintech companies chosen to participate by a group of Sweden's leading environmental investment experts as Sweden's most successful and fast-growing companies in the sector according to demonstrated strong, rapid sales growth, good export potential and maturity past the seed investment stage.
I-Tech’s revolutionary biotechnology, the barnacle-repelling active agent Selektope®, is an organic, non-metal ingredient for marine antifouling coatings that works to prevent barnacle fouling by temporarily activating the swimming behaviour of barnacle larvae, repelling them from the ship hull surface with non-fatal effect.
Heavy barnacle fouling is particularly problematic for ships as it increases hydrodynamic drag, which increases fuel consumption and raises emissions of greenhouse gases and hazardous particles.
Philip Chaabane, CEO, I-Tech AB, commented: “We are honoured to be selected to participate at the Sweden Sustaintech Venture Day 2020 with Selektope®, a technology that can contribute to solving the climate crisis and help reduce the environmental impact of the maritime industry”.
For additional information, please contact:
Philip Chaabane, CEO
M: +46 073-910 37 08
E: philip.chaabane@i-tech.se
About I-Tech AB
I-Tech is a biotechnology company that has developed the product Selektope®, an active agent that prevents barnacle attachment on submerged surfaces such as ships and boat hulls, but also other marine installations. By increasing the resistance to barnacle growth in marine paint systems (e.g. antifouling coatings), fuel and maintenance costs are reduced. I-Tech has obtained the necessary regulatory approvals for Selektope® and has several of the world's largest manufacturers of marine antifouling coatings as customers. The company's share is listed for trading on Nasdaq First North in Stockholm with Erik Penser Bank as Certified Adviser, phone: +46 (0)8 463 83 00, email: certifiedadviser@penser.se. For more information visit our website www.i-tech.se
About Selektope®
Selektope® introduces, for the first time, a pharmacological mode of action to combat barnacle settlement. By temporarily stimulating the octopamine receptor, the barnacle larvae’s swimming behavior is activated and the organisms are deterred from the hull. These ground-breaking discoveries enable unrivalled power at very low concentrations, yet within the limits of rigorous risk assessments. Selektope® is an organic, non-metal compound with efficacy proven at 0.1% w/w. For more information visit our website www.selektope.com
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