Press Releases

Svenska Aerogel is once again sending an order – this time for 720 kg of Quartzene[®] – to its returning French customer Renovcoat. Renovcoat sells cool roof paint containing Quartzene[®] in the French and African markets. The company is now gaining market share in France, and the number of installed square meters is steadily increasing.

Two of Svenska Aerogel’s key customers have recently introduced products incorporating the company’s material Quartzene[®]. Additionally, several other customers have advanced in their business development and entered new phases. Tor Einar Norbakk, CEO of Svenska Aerogel, highlights these developments and provides an update on the company’s current business.

SeaQare[®], Svenska Aerogel’s advanced technology for antifouling paints, has previously showcased remarkable results in two independent static ocean tests carried out in Sweden. Now the company has expanded testing to international waters, as SeaQare[®] is currently being tested in Florida, United States. The aim of this new test is to demonstrate the product’s efficacy in a different geographical and environmental context.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA, SOUTH KOREA, BELARUS, RUSSIA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE. Svenska Aerogel Holding AB (publ) (“Svenska Aerogel” or “the Company”) today announces the outcome of the exercise of warrants of series TO6, which were issued in connection with the Company’s rights issue of units on Nasdaq First North Growth Market in October 2022. In total, 122,790,154 warrants of series TO6 were exercised, corresponding to approximately 93.1 percent of the total number of outstanding warrants of series TO6, for subscription of 122,790,154 shares at a subscription price of SEK 0.22 per share. Svenska Aerogel will receive approximately SEK 27 million before issuing costs through the exercise of the warrants of series TO6.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA, SOUTH KOREA, BELARUS, RUSSIA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE. Svenska Aerogel Holding AB (publ) (“Svenska Aerogel” or “the Company”) hereby announces that major shareholders in the Company, and members of the board of directors and management that holds warrants, has informed the Company that they intend to exercise all their warrants of series TO6. This corresponds to an investment of approximately SEK 6.2 million, corresponding to approximately 21.4 percent of the total amount of outstanding warrants of series TO6. The subscription period for the warrants of series TO6 is currently ongoing and will continue up until May 16, 2023.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA, SOUTH KOREA, BELARUS, RUSSIA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE. Today, May 12, 2023, is the last day of trading with the warrants of series TO6 in Svenska Aerogel Holding AB (“Svenska Aerogel” or “the Company”). The subscription period for the warrants of series TO6 runs up until May 16, 2022. Each warrant of series TO6 gives the owner the right to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO6 is SEK 0.22 per share.

Over the past few months, several customer projects have accelerated remarkably quickly in the collaboration between Svenska Aerogel and Stort Chemicals. Stort, which is an established player in the British and Irish coatings market, became Svenska Aerogel’s distributor in the second half of 2022 and is thus the company’s newest distributor. Even though it has only been a short time since the distributor agreement was signed, several potential customers have already reached the product development phase in their business development.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA, SOUTH KOREA, BELARUS, RUSSIA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE. Svenska Aerogel Holding AB (publ) (“Svenska Aerogel” or “the Company”) completed a rights issue of units on Nasdaq First North Growth Market in October 2022. Each unit consisted of two (2) shares and two (2) warrants of series TO6. Each warrant of series TO6 entitles to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO6 have been determined to 70 percent of the volume-weighted average price in the Company’s share on Nasdaq First North Growth Market during the measurement period, which ran from and including April 14, 2023, up to and including April 27, 2023, however not higher than SEK 0.22 and not less than the quota value of the Company’s shares. During the measurement period, the volume-weighted average price in the Company’s share was approximately SEK 0.40, therefore, the exercise price for the warrants of series TO6 is SEK 0.22. The exercise period for warrants of series TO6 runs during the period from and including May 2, 2023, up to and including May 16, 2023.

On 28–30 March, the European Coatings Show 2023 took place in Nuremberg, Germany, and Svenska Aerogel was there for the return of this world-leading paints and coatings event. With 24,605 enthusiastic coatings experts present, there were good opportunities to make new connections and discuss how Quartzene[®] can add value in their products.