Alexium Announces Development Agreement for Flame Retardant Nylon/Cotton Fabrics
Perth, Australia and Greer, South Carolina-26 March 2019- Alexium International Group Limited (“Alexium,” “the Company”) (ASX: AJX, NASDAQ Designation: AXXIY) is pleased to announce the signing of a mutually exclusive Development Agreement covering the provision of Alexium’s flame retardant chemistry to Pine Belt Processing for the treatment and supply of nylon/cotton fabrics for military applications. The Agreement’s key terms cover the provision of samples, pricing, testing and the timetable for delivery of Alexium treated uniforms by Pine Belt Processing to the US military for limited user evaluation (LUE, or “wear trial”). As discussed in Alexium’s recent 4C, Alexium has now satisfied the key specifications in terms of both FR performance and garment servicing; Alexium is now working with Pine Belt Processing to comply with their production requirements and to prepare uniforms for the military’s evaluation.
Under the Development Agreement, Alexium provides Pine Belt Processing exclusivity to Alexium’s proprietary flame-retardant treatment of nylon/cotton garments for military applications. Additionally, after product validation Pine Belt Processing shall exclusively source its flame-retardant chemistry treatment for nylon/cotton fabrics from Alexium for garments within the Field of Use. For all work under this agreement, Alexium retains all intellectual property for its flame-retardant products. After successful completion of the Development Agreement, both parties will enter into a Supply Agreement for the final commercialized process and treatment. This Agreement commences today and continues until the execution of the Supply Agreement, unless terminated earlier in accordance with the Agreement.
Alexium CEO Dr. Bob Brookins commented, “This Agreement is a crucial step forward and the culmination of months of product development and rigorous testing by Alexium to ensure compliance with both demanding US military performance specifications as well as with the specific production requirements of our partner. The completion of that work and this subsequent Agreement now takes our chemistry from the laboratory towards final preparations for large scale deployment by our partner at their facility. Pine Belt Processing has an unrivalled reputation as a provider of high performance, high volume uniform treatments to the US military. We look forward to working closely with them to bring this critical project to a timely and successful conclusion.”
About Alexium International Group Limited
Alexium International Group Limited (ASX: AJX, Nasdaq Designation: AXXIY) holds proprietary patent applications for novel technologies developed to provide flame retardancy for a wide range of materials. These environmentally friendly flame retardants have applications for several industries and can be customized. Further, Alexium develops proprietary products for advanced thermoregulation utilizing phase change materials. Alexium also holds patents for a process developed initially by the U.S. Department of Defense, which allows for the surface modification and attachment of nanoparticles or multiple chemical functional groups to surfaces or substrates to provide fire retardancy and various additional functionalities. Applications under development include but are not limited to textiles, packaging, electronics, and building materials. Alexium’s chemical treatments are currently marketed as Alexicool® and Alexiflam®. For additional information about Alexium, please visit www.alexiuminternational.com.
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