Revolymer – signs global licence with Solvay for SPC formulations
Revolymer signs global licence to its encapsulation technology with Solvay in the field of Sodium Percarbonate (SPC) for liquid product formulations
Revolymer, the polymer technology company, is pleased to announce that it has signed a further licence in its Consumer Specialties business area with the international chemicals group Solvay. Under the terms of the deal, Solvay has exclusive rights to apply Revolymer’s encapsulation technology to the bleaching active ingredient Sodium percarbonate, known as SPC and commercialised currently by Solvay under the trademark Oxyper®, in the field of liquid formulations of laundry and automatic dish washing. Accordingly it is intended that, after final qualification, the encapsulated SPC will have improved stability enabling expansion of its application into liquid product formulations which currently do not contain such active ingredients. The geographic territory of the licence is global.
“Solvay’s strategy of improving product performance for its customers is closely aligned to Revolymer’s own business plan, and, with Solvay’s global reach, it is the ideal partner for Revolymer to commercialise its technology in the field of SPC products for liquid laundry and automatic dish wash. We are excited to have closed another significant global deal applying our proprietary technology with Solvay.” said Dr. Kevin Matthews, CEO of Revolymer.
Symetrica – Parkwalk closes follow on investment
We are pleased to announce that the Parkwalk UK Tech Fund VI has led a financing round into Symetrica, who specialize in the detection and identification of radioisotopes for Security Applications.
The company works with prime contractors and government agencies to design, develop, test and deploy detection equipment for use by law enforcement personnel, customs officers, the emergency services, military personnel and first responders.
Xeros: Interim Results
Xeros Technology Group plc – Building momentum
Xeros Technology Group plc (AIM: XSG, “Xeros” or “the Group”) , the innovative developer of a patented polymer bead cleaning system with multiple identified commercial applications, today announces its unaudited interim results for the six months ended 31 January 2015.
Operational highlights
Commercial Laundry – Increasing customer traction:
- As at 31 January 2015: 41 installations with a further 61 committed to be installed
- 17 new machine installations in the period
- As at 24 April 2015: 54 installations with a further 69 committed to be installed
- 13 utility incentives programmes signed, more in progress
- 61 Forward Channel Partners sign at Clean Show 2015, significantly expanding the Group’s sales and service capabilities across North America
- Smaller machine development continues: launch 15 kg prototype before the end of 2015
Domestic Laundry
- Ongoing partner discussions with machine manufacturers and detergent companies
Beyond Laundry
- Leather processing – joint development programme with LANXESS announced today to develop leather bead processing technology
- Cash balance as at 31 January 2015 of £24.2m (31 July 2014: £29.5m)
Bill Westwater, CEO of Xeros Technology Group, said:
“The building blocks are in place for acceleration in our primary Commercial Laundry business. The combined impact of water scarcity and energy conservation, especially in our key US market, are now intense market trends. Our current enterprise customers are demonstrating that Xeros bead cleaning provides a robust and effective solution. This was clear from the excitement that we created at Clean Show 2015, with 61 channel partners signing up in four days to provide us with a scalable sales and service capability across North America.
“It is not only in Commercial Laundry where we have seen success. The joint development programme announced today with LANXESS provides an entirely incremental opportunity to develop and ultimately commercialise a Xeros bead solution in the $50 billion leather processing market. Just as we did in Commercial Laundry, our team is set to move from positive laboratory trials to a prototype in a tannery before the end of 2015.
“We continue to discuss partnership opportunities with major global players in Domestic Laundry. Our success in Commercial Laundry, especially as we move to smaller machines and end-user consumer trials, is creating greater interest from these global players.
“We’re hugely encouraged by the momentum building across the Group’s activities as we continue to deliver a superior performing Xeros bead solution for a world that can no longer depend on traditional aqueous processes.”
Nandi Proteins Featured on the BBC
Scientists use protein to replace fat in lower-fat food: The video can be seen here.
Revolymer – Settlement and Discontinuation of Patent Infringement Proceedings
In respect of the alleged patent infringement action brought by Fertin Pharma A/S and Gumlink A/S against the Company relating to the sale of its nicotine gum products in Canada (the “Action”), Revolymer is pleased to announce that the Action, and the counterclaim forming part of Revolymer’s defence, has been settled and discontinued.
Surrey NanoSystems – NYT: Into the Void
New York Times article: Gazing Into the Void – What You Can Do With Vantablack, the Darkest Material Ever Made
Read the article here.
Nandi Proteins – Parkwalk closes investment
We have recently closed an investment in Nandi Proteins for the Parkwalk UK tech Fund V.
Established in 2001 as a spin-out from Heriot-Watt University, Edinburgh, Nandi Proteins is a market leader in developing technology and scientific expertise to improve the functional properties of proteins in food manufacturing and nutrition.
Nandi specialises in working with global food producers by using completely natural processes in protein development, and the company’s technology is now being successfully used for a range of applications, helping household names with food production and testing at factory scale.
The company’s know-how reduces costs in food production and improves food taste, texture and longevity, whilst helping to minimise the use of additives.
Xeros: CBS – Almost waterless washing could come to American homes
CBS News: Read the article here.
Parkwalk: 4x Exit for Fund I
We are delighted to announce that the Parkwalk UK Tech Fund I has successfully exited from Xeros.
We invested in October 2010 at 33p per share (26.4p net of initial tax reliefs) and exited in a single block trade in September 2014 giving a 4x cash return for investors in Fund I (in under four years).
The exit has led to investors in the Parkwalk UK Tech Fund I receiving back, in cash, more than their original subscription into the Fund, with three other portfolio companies in the Fund still showing commercial potential.
Parkwalk still maintains a substantial holding in Xeros for various other Parkwalk Funds and Syndicates, and we remain confident that Xeros will continue to deliver exceptional growth over the coming years.
Revolymer – 6 month results
Business Highlights: Consumer Specialties
Revolymer is pleased to have announced, after the period end on 25 September 2014, the signing of its first commercialisation deal in the prioritised Consumer Specialties business area, namely a global licence of its encapsulation polymer technology to the international chemicals group Solvay. The deal is aimed at expanding the commercial applications of Solvay’s proprietary cleaning and disinfecting active 6-phthalimido-peroxyhexanoic acid, known as “PAP” and commercialised currently by Solvay under the trade mark Eureco(TM). Solvay will make royalty payments to Revolymer on net sales of PAP products incorporating its technology
On 14 April 2014, the Company announced a £0.5 million funding award by the UK’s innovation agency, the Technology Strategy Board, to co-fund a 2-year, collaborative research project to develop new, sustainable, high-performance marine fouling control coatings
Continued progress is being made towards commercialisation of a portfolio of other partnered projects based on Revolymer’s proprietary formulations, including laundry and non-laundry cleaning actives, personal care product and ingredient prototypes, and sealants used in the construction industry. Further announcements will be made in the future as projects within this portfolio culminate in commercial deals
Medicated Chewing Gum
As announced on 9 June 2014, a supply and distribution agreement for Revolymer’s nicotine chewing gum products for the United States of America was signed during the period with PL Developments LLC (“PLD”), a leading US manufacturer and supplier of over-the-counter (OTC) healthcare products. Under the terms of the agreement, PLD will be responsible for marketing, sales and distribution of Revolymer’s nicotine gum products within this territory, which is the world’s largest single market for nicotine gum
The Company received, after the period end, confirmation of compliance with the principles and guidelines of good manufacturing practice (“GMP”) from the Medicines and Healthcare Products Regulatory Agency (“MHRA”), following an inspection carried out in July 2014. GMP Certificates have been issued. This development evidences progress in the EU regulatory approval process for Revolymer’s nicotine gum products.
Management
As announced after the period end on 4 July and 27 August 2014, Dr Kevin Roger Kenneth Matthews commenced as Chief Executive Officer of Revolymer with effect from today, 29 September 2014. Dr Matthews has over 20 years of experience in senior management roles in the chemical, technology and pharmaceutical sectors and will bring significant marketing, strategy and business management expertise, along with a broad technical understanding, to Revolymer’s management team.
Financial Highlights
Cash, cash equivalents and short term investments were £15.2m at the period end (30 June 2013: £19.7m, 31 December 2013: £17.7m), reflecting the remaining significant resources on hand to fund the continued execution of Revolymer’s strategy of commercialising its technology through partnerships with larger industry players
Revenue for the period of £366k (2013: £22k) – after releasing deferred revenue relating to potential Canadian sales returns of £157k (2013: £nil). This revenue is primarily sales of nicotine gum in Canada though a Canadian retailer, a revenue stream that had not commenced in the prior interim period
Gross profit for the period of £139k (2013: loss £254k) – including a stock provision of £30k (2013: £262k). Gross profit for the period before the (non-cash) release of deferred revenue and stock provision was £12k (2013: £8k)
Other operating income for the period of £30k (2013: £166k) – reflecting decreased receipts from potential partners through early stage joint development agreements, as the Company has focused on its own product development
Loss for the period of £2.7m (2013: loss £2.9m) – after making non-cash charges in respect of (i) share based payments to employees of £224k (2013: £95k); and (ii) in 2013 only, £218k primarily relating to the impairment of manufacturing fixed assets used in the production of polymer stock.
Mr Robin Cridland CFO and Company Secretary of Revolymer said: “The signing of our first commercial deal in Consumer Specialities with Solvay is a significant milestone for Revolymer and a validation of our technology in this business area. This deal, together with the announcement of a supply and distribution agreement for our nicotine gum products in the US, demonstrates the commercial progress the Company is now making across all areas of the business. I look forward to further positive developments across Revolymer’s remaining project portfolio under the leadership of our new CEO Dr. Kevin Matthews.”
Revolymer – signs global licence with Solvay
Revolymer signs global licence to its encapsulation technology with Solvay in the field of PAP products
Revolymer, the British polymer technology company, is delighted to announce that it has signed the first licence in its prioritised Consumer Specialties business area with the international chemicals group Solvay. Under the terms of the deal, Solvay has exclusive rights to apply Revolymer’s encapsulation technology to its proprietary cleaning and disinfecting active ingredient 6-phthalimido-peroxyhexanoic acid, known as PAP and commercialised currently by Solvay under the trade mark Eureco(TM). It is intended that the resultant formulations of PAP will be more stable than existing PAP formats marketed by Solvay, thereby expanding the market for this active into a broad range of fields including cleaning, disinfection and deodorisation in both solid, gel and liquid product formats. The geographic territory of the licence is global, and Solvay intends to target industry segments including laundry detergents and additives and dish wash agents, in the consumer, domestic, industrial and institutional markets. Veterinary, pharmaceutical and other health care applications are also included in the deal. As consideration for the licence, Solvay will make royalty payments to Revolymer on net sales of PAP products incorporating Revolymer technology.
“We are excited to have closed this significant global deal applying our proprietary technology to Solvay’s PAP active ingredient. Solvay’s strategy of improving product performance for its customers is closely aligned to Revolymer’s own business plan, and, with Solvay’s global reach, it is the ideal partner for Revolymer to commercialise its technology in the field of PAP products across broad industries and geographies” said Robin Cridland, Acting CEO of Revolymer.
AQDOT – Follow on Investment
We have recently made a follow-on investment into AQDOT on behalf of the University of Cambridge Enterprise Fund II and the Parkwalk UK Technology Fund V.
AQDOT‘s technology allows for an energy- and raw material-efficient way of manufacturing microcapsules, leading to lower energy consumption and less waste.
Potential applications include encapsulating enzymes in laundry detergents, or encapsulating fertilisers in the agrochemical sector. Microencapsulation is a multi-billion-per-annum industry with established applications in household and personal care, food and agrochemical markets.
Surrey NanoSystems – BBC – Vantablack
How black can black be? See the BBC video here
Xeros: Positive update on contracts
Xeros Technology Group plc (AIM: XSG), the innovative developer of a patented polymer bead laundry cleaning system with multiple identified commercial applications, is pleased to announce that, following its latest cleaning system contract win, it now counts four out of the world’s top five hotel groups* as customers. According to the 2014 World Hotel Ranking (www.hotel-online.com), IHG, Hilton, Marriott, Wyndham and Choice are the top five hotel groups measured by rooms globally.
As a result, Xeros cleaning systems are now installed, or contracted to be installed, at sites with each of these four hotel groups in the USA, a priority market for Xeros given the increasing scarcity and cost of water in many states. Single or multiple cleaning systems will be in operation with these customers and handling daily demand in busy hotel laundries.
By replacing much of the water with polymer beads, Xeros cleaning systems are saving laundry customers up to 75% of the water, up to 50% of the energy (used to heat water in the washing machine) and up to 50% of the detergent compared to conventional, aqueous washing machines.
Xeros CEO Bill Westwater states:
“Four of the world’s top five hotel groups have now agreed to use Xeros cleaning systems in the USA and we are actively contributing to their achievement of their CSR goals in relation to sustainability. We’ve demonstrated how Xeros technology can bring lasting and meaningful benefits by way of superior cleaning, water and energy reductions and enhanced service through the commercial use of our technology for laundry.
We are highly encouraged by the early adoption of our cleaning systems by these important customers and we look forward to working with them going forwards.”
See more here: www.xeroscleaning.com/investors
Surrey Nano: UK engineers create world’s darkest material
None more black: UK engineers create world’s darkest material
A radiation-absorbing material developed for space-based applications is finding new applications closer to home.
Vantablack, a so-called ‘super black’ coating from Surrey Nanosystems, combines exceptionally low mass, thermal stability and an ability to absorb 99.96 per cent of incident radiation. Consequently, the coating is suited to applications including apertures, baffles, cold shields and Micro Electro Mechanical Systems (MEMS)–type optical sensors.
The material also overcomes limitations encountered in the manufacture of super-black carbon nanotube-based materials, where high temperatures precluded direct application to sensitive electronics or materials with relatively low melting points. This, along with poor adhesion, prevented their application to space and airborne instrumentation.
Read the full article here.
Vantablack has the highest thermal conductivity and lowest mass-volume of any material that can be used in high-emissivity applications. It has virtually undetectable levels of outgassing and particle fallout, thus eliminating a key source of contamination in sensitive imaging systems. It withstands launch shock, staging and long-term vibration, and is suitable for coating internal components, such as apertures, baffles, cold shields and Micro Electro Mechanical Systems (MEMS) –type optical sensors.
Read the full article here.
Revolymer – appointment of new CEO
Revolymer plc, the polymer technology company, is delighted to announce that it will appoint Dr Kevin Roger Kenneth Matthews as Chief Executive Officer with effect from 1 January 2015. Dr Matthews has over 20 years of experience in senior management roles in the chemical, technology and pharmaceutical sectors and will bring significant marketing, strategy and business management expertise, along with a broad technical understanding, to Revolymer’s management team.
Dr Matthews will join Revolymer from Isogenica Ltd, a business providing drug discovery services to the pharmaceutical industry, where he has served as CEO since 2009. Prior to that, Dr Matthews led the chemical technology company Oxonica as its CEO for 8 years, during which time he completed its AIM listing in 2005 and secured numerous significant partnership deals and M&A transactions. He also is currently serving as non-executive director of the FTSE 250 specialty chemicals company, Elementis plc, a role he has held since 2005, where he has helped to oversee a significant and successful strategic repositioning of the business. Dr Matthews began his career holding a number of increasingly senior roles at ICI, Albright & Wilson and Rhodia. He is a graduate of the University of Oxford, where he was also awarded a DPhil in Organic Chemistry.
“I am excited to have this opportunity to lead Revolymer through the next phase of its development, continuing to identify and deliver on commercial opportunities where Revolymer’s broad polymer technology expertise can provide real and sustainable value in solving customer and industry challenges. I look forward to working with the existing board, management and investors to build Revolymer into a global leader in its markets” said Dr Matthews.
Jack Keenan, Chairman of Revolymer plc, commented “We are very pleased to have appointed Dr Kevin Matthews to the role of CEO at Revolymer. He has the balance of relevant technical expertise and business management experience, including at listed companies, that the Board has been seeking. He has a proven track record of delivering commercial deals in businesses like Revolymer, and we look forward to near-term progress across Revolymer’s business areas under his leadership.”
Dr Matthews will formally join the board of Revolymer as Chief Executive Officer on 1 January 2015, at which point Robin Cridland will resume the role of Chief Financial Officer and Company Secretary.
Xeros – Gains Traction as Hotels Adopt Near Waterless Laundry Operations
MANCHESTER, NH–(Marketwired – Jun 25, 2014) – Xeros, the innovator of an ultra-low water laundry system, today announced its rollout plan to the hospitality industry is on track and the majority of Xeros ecologically-sustainable laundry systems have been sold into the top 5 hotel groups in North America. According to MKG Group’s annual rankings reported by Skift, HOTELS’ 325 2013 report named IHG, Hilton Hotels, Marriott International, Wyndham Hotel Group and Choice International as the top five hotel groups in the world.
Read more here.
Forbes: Xeros Hopes To Clean Up By Taking The Water Out Of Washing
Commercial laundry is not exactly the fastest-moving area of technology, but one company thinks it has the disruptive technology to transform the sector.
At a time when the scarcity of water resources is being starkly highlighted by the ongoing drought in California, a UK-based company called Xeros says that it is winning new business because its new cleaning technology can cut water use for its customers – hotels, restaurants, dry cleaners, fitness facilities and commercial laundries – by up to 75%.
Read the full article here.
Revolymer – Signs US Supply, Distribution Deal For Nicotine Gum Products
LONDON (Alliance News) – British polymer technology company, Revolymer PLC, said Monday that it has signed a supply and distribution deal for its nicotine chewing gum products in the United States with PL Developments LLC, a US manufacturer and supplier of over-the-counter products.
Revolymer said that under the terms of the agreement, PL Developments will be responsible for marketing, sales and distribution of its nicotine gum products within this territory.
The polymer firm said its nicotine chewing gum products offer a number of consumer benefits in comparison to currently marketed nicotine gum including a more confectionery-like chew and faster release of nicotine. The US company plans to market and sell private label formats of Revolymer’s nicotine chewing gum products to its broad customer base including all major mass merchandiser, drug, food, dollar channel, and club store retailers.
The AIM-listed company Monday said that the agreement is subject to regulatory approval of Revolymer’s products and the preparation of an application for marketing approval is currently under discussion with the FDA.
“The team at PLD is very experienced at packaging and distributing OTC pharmaceutical products and consumer healthcare goods nationally across America to major grocery, mass merchandiser, and pharmacy chains, and we look forward to a mutually fruitful relationship going forward. We are now focused on preparing a regulatory dossier with view to filing for and gaining marketing approval for our nicotine gum products in the US,” said Robin Cridland, Acting CEO of Revolymer.
According to market estimates agreed between PLD and Revolymer, the US nicotine gum market has a current retail value of nearly USD500 million per annum, of which more than half is private label, and the balance branded products.
Xeros – Awarded Qualified Vendor Status With Choice Hotels International
MANCHESTER, NH, May 21, 2014 (Marketwired) — Xeros, the innovator of an ultra low water cleaning system, today announced that Choice Hotels International has selected Xeros as a qualified vendor for its more than 5,000 U.S. franchises. Xeros’ nearly waterless laundry system helps hotels significantly reduce laundry costs, increase the life of linens, and helps hotels advance their commitment to green operations.
– read the full article here
