OrganoClick signs agreement with leading nonwoven manufacturer
OrganoClick has signed a 5-year frame work agreement with a leading nonwoven manufacturer for supply of OrganoClick’s biobased binders. The estimated value of the contract is around SEK 30 million per year when the biobinder has been fully implemented in the customers production.
”This agreement is a great milestone for OrganoClick. We have worked with this project for more than two years and are now changing from development to full scale production. Our focus will now be on making ourselves ready for supplying this key customer with our biobased binders which replaces their current plastic binders. I am so proud over OrganoClicks and our customers dedicated team that together have made this possible”, says Mårten Hellberg, CEO OrganoClick.
Under the 5-year term of the contract, OrganoClick will supply its biobinder according to a forecasted yearly volume that will be confirmed in detail in 6 month periods. During the coming six months (Q2-Q3) OrganoClick will gradually ramp up its production and supply to the customer and for this 6 month period, OrganoClick has received a confirmed order volume to a value of SEK 5 million. Full volume of the contract is expected to be reached in 2022.
This disclosure contains information that OrganoClick AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 19-02-2021 14:05 CET.
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For more information, please contact:
Mårten Hellberg, CEO
0707 - 16 48 90, marten.hellberg@organoclick.com
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About OrganoClick
OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North Growth Market. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the durable water repellent technology for textiles OrganoTex®, the biocomposite material OrganoComp®, surface treatment and maintenance products for villa and property owners under the brand BIOkleen®, biobased binder under the trade name OC-BioBinder™ and the flame and rot-resistant timber OrganoWood® (through the joint-venture OrganoWood AB). OrganoClick was founded in 2006 as a commercial spin-off company based on research performed at Stockholm University and the Swedish University of Agricultural Sciences within environmentally friendly fiber chemistry. OrganoClick has won a number of prizes, such as "Sweden's Most Promising Start -up" and "Sweden's Best Environmental Innovation", and has also received a number of awards, such as the WWF "Climate Solver" award, listed as a SUSTAINIA100 company and has also appeared for two years on the Affärsvärldens and NyTekniks list of Sweden's top 33 hottest technology companies. OrganoClick has its head office, production and R&D located in Täby, north of Stockholm. OrganoClick's Certified Adviser on Nasdaq First North Growth Market is Mangold Fondkommission AB, tel: +46 (0)8 503 01 551, email: ca@mangold.se.
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