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.
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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.
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.
Svenska Aerogel has started 2023 with its best quarterly sales of material ever. During Q1, the company sold more Quartzene[®] than during all of 2022. These updates on the company’s current business are provided by Tor Einar Norbakk, CEO of Svenska Aerogel, in a new video interview on the company’s website.
An order of almost 2.2 tons of Quartzene[®] was recently sent to a returning European customer. Compared to the customer’s previous orders, this order represents an increase in size of nearly 50%. Svenska Aerogel sees that the customer’s order development is in line with expectations for a customer who is in the expansion phase. This case is a clear example of how Svenska Aerogel’s long-term work on creating value throughout the entire customer journey is showing results.