Perth, Australia, and Greer, South Carolina- 25 July 2019– Alexium International Group Limited (“Alexium,” “the Company,” ASX: AJX) is pleased to announce the signing of a supply agreement with Pegasus Home Fashions, a New Jersey based supplier of pillows to retail channels of distribution.
Under the agreement, Pegasus Home Fashions will use Alexicool® products for top of bed applications, with a focus on pillows. The agreement has an initial two-year term and may be automatically renewed for successive one-year terms. The agreement specifies the provisions for the commercial relationship, including pricing and supply capabilities but does not include any terms for exclusivity. This supply agreement formalizes the relationship previously outlined in a Memorandum of Understanding entered into with Pegasus Home Fashions in 2017 and aligns Alexium with an industry leader for a key segment of the bedding market. Alexium management has conducted due diligence on Pegasus Home Fashions and its suppliers, and they are confident with the distribution plan established by Pegasus Home Fashions.
Commenting on the supply agreement, Alexium Chief Commercial Officer Allen Reihman said: “Pegasus Home Fashions is a world class manufacturer of pillow products and is committed to providing its customers with products that utilize the best materials and technologies. We have worked with them since 2017, and we are pleased to see the success of this line of products. Embedding the Alexicool® technology with their top of bed products will ensure their customers have access to products with enhanced cooling properties, as thermal regulation becomes an important requirement of consumers.
“Signing the supply agreement is another important milestone for Alexium, as it further demonstrates the increasing brand recognition and demand for our Alexicool® technology from major manufacturers. The agreement follows the signing of a supply contract with a multi-billion-dollar North American manufacturer in March.”
About Alexium International Group Limited
Alexium International Group Limited (ASX: AJX) 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 has developed products for a range of other applications including phase-change materials, water repellents, antimicrobials, and combinations thereof. 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 functions such as fire retardancy, water proofing, oil proofing, and antimicrobial treatments. 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®.
Vice President, Investor Relations