Breakthrough order for Svenska Aerogel's material
Svenska Aerogel listed on Nasdaq First North has received a first major order for Quartzene®, when the South African retailor orders 2 tonnes of Quartzene®.
DryTech Ltd, South Africa, is one of Svenska Aerogel's retailors who successfully is testing Quartzene®. The company is mainly focusing on the insulating properties that Quartzene® adds to Paint&Coating products. Tests have shown that Paint&Coatings with Quartzene® on tin roof greatly reduces the temperature of the space underneath the plate. The paint has also been tested to isolate pipes where heat from liquid substances in hot temperatures can be easily and cost-effectively insulated. Delivery is expected in June / July with a sales value of approximately SEK 300,000. One of the end customers is in the steel industry, Richard Bay Alloys.
DryTech Ltd is also, in addition to these Paint&Coating products, developing and selling their own aerogel based products for different application areas.
Willie Coetzee, CEO DryTech Ltd is very enthusiastic and particularly emphasizes the environmental benefit with Quartzene®:
"With Quartzene®, we can not only achieve good temperature conditions, it also helps us to be cost-effective in our energy saving measures. It is very important and valuable for the South African struggle against global warming."
This first major order is of course positive for Svenska Aerogel and worth extra attention. But it is also a confirmation that the conscious commitment to the application Quartzene® in Paint&Coating proves to be successful. The global market for insulating coatings is estimated in 2021 by Markets & Markets to be worth a total of SEK 74 billion. For Svenska Aerogel, it means a market potential of approximately SEK 6 billion.
"The fact that Dry Tech is the first to place a larger order of Quartzene® gives them a clear competitive edge with Quartzen-based products in South Africa. There is a great interest in our material, mainly in Europe but also in Asia and North America. We have today about 150 companies working on developing heat-insulating coatings based on Quartzene®. It's all from small fast-paced companies to the global players like AKZO Nobel, Sherwin Williams, Nippon Paint, Wacker, BASF, Benjamin Moore, Kraft and Worlee”. Words from Anders Lundström, CEO Svenska Aerogel, who confirms that there have been some busy days after the presentation of Quartzene® at the European Coatings Show in April:
Dry tech Aerogels Ltd based in South Africa, specializes in product development based on the aerogel technology. “Elementum” is their own developed product line, with aerogel based insulation paints for both interior and exterior use. Dry tech Aerogels also imports and offers selected specialty chemicals and advanced products to the South African market. Dry Tech Aerogels is located in Vaal Triangle, South Africa with subsidiary offices and production facilities in Hyderabad, Telangana State, India.
Svenska Aerogel is a R&D company in materials technology that have been developing and now commercializes Quartzene® for various applications; primary Insulation, Paint & Coatings, and Filtration. Quartzene® is a material produced with a flexible, environmentally friendly and very cost effective method. Svenska Aerogel has developed a number of variants of Quartzene® with product and process patents. The commercialization is done in close cooperation with industrial partners representing various key business areas. Svenska Aerogel Holding AB is listed on Nasdaq First North since Dec 2016. The Certified Adviser for Svenska Aerogel Holding is FNCA.
Willie Coetzee, CEO Dry Tech Aerogels, tel +27 16 932 2794
This information is published by Svenska Aerogel Holding AB according to the EU Market Abuse Regulation. The information was submitted for publication by CEO Anders Lundström at 08:00 CET on June 2, 2017.
Note: The English version of his press release is translated from the original written in Swedish. If in doubt about the content, the Swedish original will apply.