Alexium to speed up licensing process for FR nylon tech
Alexium International Group Limited is pleased to announce that it has placed a total of 15 Million shares at 8c each, with an attaching 1 for 3, unlisted 18 month option at an exercise price of 12.5 cents (Placement), to raise AUD ~$1.2 Million (before costs) to sophisticated investor and institutional clients of Baker Young Stockbrokers Limited.
Alexium's potential has been recognized following the press release on January 19, 2012 announcing a technological breakthrough in revolutionary and environmentally friendly Fire Retardant (FR) Nylon technology. The treatment has met key technical milestones for flame retardancy, water repellency and durability, achieved through a protective nanocomposite char layer.
The placement has been undertaken to enable Alexium to “fast track” this unique technology, which has significant revenue potential in both industrial and defense applications. There are no other fire retardant solutions for nylon in the market. Nylon is a widely used low cost material for tear strength, abrasion resistance, durability and breathability in textile and industrial applications but until now, nylon fibers have not been able to be made fire retardant.
1. The Placement will allow Alexium to:
a. Commence larger demonstration runs for various parties at its facility in Greer, South Carolina, thereby speeding up the licensing process;
b. Enter into certification testing for military and commercial customers; and
c. Expand the FR Technology into other high margin product areas.
2. Alexium will be negotiating license agreements with potential partners to deliver FR nylon treatment capabilities;
3. Alexium expects licensing agreements will attract upfront payments, milestones payments and royalties;
4. Alexium and BRUCK, a leading Australian textile manufacturer, entered into an alliance, with a view to BRUCK entering into an exclusive licensing of Alexium's Reactive Surface Treatment (RST) technology for the Australasian market as outlined in the press releases dated January 22, 2012.
5. Alexium's four current focal areas in the product development pipeline are FR Nylon, Chem/Bio Protection, Repellency on ballistic fabrics, and composites applications. Extensions of these treatments and non-textile applications are also being developed.
Alexium International Group Limited holds proprietary patent applications for a process developed initially by the US Department of Defense, which allows for the surface modification and attachment of nano particles or multiple chemical functional groups to surfaces or substrates to provide functions such as water proofing, oil proofing, anti-microbial, non-stick and UV protection. Applications under development include but are not limited to textiles, paints, packaging, glass and building materials.
Alexium International Group Limited