Nanollose is pleased to provide its Appendix 4C Cashflow Statement for the quarter ended 31 December 2017, together with the following operational update.
Perth, Jan 31, 2018 - (ABN Newswire) - Nanollose (ASX:NC6) (NC6 or the Company) is pleased to provide its Appendix 4C Cashflow Statement for the quarter ended 31 December 2017, together with the following operational update.
Highlights
- Nanollose became the first company to successfully convert Plant-Free cellulose into a rayon fibre, marking a significant global breakthrough for the textile and clothing industries
- Nanollose filed its first international patent application relating to a method of processing microbial cellulose into ‘pulp’ - a material suitable for a broad range of commercial applications
- Nanollose successfully admitted to the Australian Securities Exchange (ASX) after raising A$5 million in oversubscribed Initial Public Offer (IPO)
- Commenced talks with various global entities and potential industrial partners on collaborations, with the aim to explore, forge and solidify relationships in the near term
Creation of world first Plant-Free viscose-rayon fibre
In December, Nanollose filed a provisional patent to protect the production of its world-first Plant-Free viscose-rayon fibre, marking a significant breakthrough for the global textile and clothing industries that until now have had limited eco-friendly fibre alternatives available to them.
This milestone validates that the Nanollose technology can convert Plant-Free microbial cellulose into valued commercial fibre products. This gives the Company a significant opportunity in offering a sustainable alternative for plant-based fibres such as viscose-rayon, which are widely used, but have significant environmental impacts.
First international patent application filed
In November, Nanollose filed an International Patent Application relating to methods for processing microbial cellulose to pulp, a material suitable for a broad range of commercial applications including medical scaffolding, non-woven fabrics and absorbent feminine hygiene products.
This became the first step in solidifying and expanding the Company’s technology and patent portfolio strategy, and Nanollose is working towards developing materials made from microbial cellulose pulp to meet the increasing interest from industries for environmental and sustainable solutions.
Efforts to secure commercial supplies of Plant-Free microbial cellulose underway
In early December, management met with established coconut industry groups in South East Asia to secure a supply of microbial cellulose, which will then be processed into Plant-Free rayon and other fibres using Nanollose technologies. These discussions have now advanced and Nanollose expects initial supply to be secured in the near future.
Successful listing on the ASX
Nanollose successfully commenced trading on the Australian Securities Exchange on 18 October 2017 after raising $5 million in its initial public offering (IPO) via the issue of 25 million new shares. The proceeds of the IPO have allowed the Company to advance its research and development program, protect its intellectual property and accelerate commercialisation activities.
Strong interest in Nanollose technology
Over the past 3 months since listing, interest in Nanollose’s fibre technology from multiple textile, apparel and fibre manufacturers has been significant. The Company is currently accelerating development to be able to generate sufficient quantities of fibre samples for these groups.
Nanollose is currently in early stage discussions with:
- Global textile groups from high end designers to mass market brands and retailers
- US personal hygiene companies
- European automotive industries
- European cosmetics and fast moving consumer goods groups
- International ethical investments funds
Within the next quarter it is the Company’s intention to progress discussions into agreements with a number of these groups and provide material validation of the Company’s technology.
Outlook
Demand remains strong for sustainably produced fibre materials that could replace current environmentally detrimental options available to industries. Nanollose is at the forefront of this growing demand, and looks to strengthen its position as first mover in its space by focusing on three foundational pillars:
1. Refine the Nanollose technology: The Company is currently at a product development stage where physical samples are being proven, tested and produced ahead of being commercially ready.
2. Develop a raw material supply chain: Current raw material research has been based on accessible and repurposable microbial cellulose feedstock. The next step is to develop a supply chain with current partners that will boost capacity and broaden feedstock development to include industry waste streams.
3. Solidify value chain partners: Nanollose has received significant interest from many areas of the global textiles industry since announcing its production of viscose-rayon fibre from microbial cellulose.
Nanollose has commenced talks with various entities and industrial partners on collaborations along with possible joint venture models. These cover opportunities around investment, supply chain, research acceleration and product development. The Company aims to explore, forge and solidify relationships in the near term.
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http://abnnewswire.net/lnk/OZYI0H41
WEB: Quarterly Update and Appendix 4C
About: Nanollose Ltd
Nanollose Limited (ASX:NC6) is an innovative Australian company that uses a low cost and eco-friendly fermentation process to grow fibres that could become a sustainable alternative to conventional plant-derived cellulose fibres. The Company’s process, which uses streams from various large-scale industries like sugar, wine and food, has the ability to produce ‘Plant-Free’ Cellulose. Cellulose is the hidden building block polymer most consumers know nothing about, but forms a huge part of items used in their everyday life such as clothing, paper and hygiene products.
