SOURCE: Alexium International Group

Alexium International Group

October 19, 2015 12:09 ET

Alexium Receives Additional Grant by South Carolina Research Agency (SCRA)

Extension to Collaboration With Israel Chemicals Limited (ICL)

PERTH, AUSTRALIA and GREER, SC--(Marketwired - Oct 19, 2015) - Alexium International Group Limited (Alexium) (ASX: AJX) (OTCQX: AXXIY)

Highlights:

  • Extension of collaboration with ICL following successful initial 12 month venture;
  • SCRA has awarded an additional US$232,000 grant to Alexium for the venture;
  • Target market for joint effort in military and specialty fabrics is US$150m pa.

Alexium International Group Limited (Alexium) (ASX: AJX) (OTCQX: AXXIY) is pleased to announce it has received an extension to its 12-month collaborative award with leading fire retardant manufacturer Israel Chemicals Limited.

The initial 12-month project as well as the bilateral collaboration between Alexium and ICL succeeded to the point where both partners identified additional value opportunities to be captured by extending the current collaboration, for which SCRA has awarded a further $232k in funding for Alexium.

The potential market for flame retardant products being collaboratively developed by Alexium and ICL in the military and specialty fabric divisions is approximately US$150 million in potential product revenues.

The South Carolina/Israel Collaborative Industry R&D Program is a program initiated in 2014 by the Government of the State of South Carolina and the Government of the State of Israel. The goal of this program is to promote collaborative efforts from companies from South Carolina and Israel, and to stimulate generation and development of new or significantly improved products/processes for commercialization in global markets. This program is executed by SCRA and the Israeli Center for R&D (MATIMOP).

ICL, which is a major player in the FR industry and other chemical industries, currently employs around 12,500 people worldwide, and its 2014 sales totaled $6.1 billion.

"We are delighted to announce the continuation of this successful joint R&D project," said SCRA CEO Bill Mahoney. "This collaboration furthers innovative research and collaboration, helping advance South Carolina's Knowledge Economy. We congratulate Alexium and ICL on the positive results they have achieved to date, and look forward to positive commercial outcomes from their ongoing partnership."

Added Bob Brookins, VP of R&D for Alexium, "Alexium is excited about being a part of this program and appreciates the ongoing support SCRA has provided for this collaborative effort. We expect great innovation out of this collaboration with ICL, a world leader in the flame retardants industry over many years, and I am looking forward to new products being developed out of this venture."

About Alexium

Alexium International Group Limited (ASX: AJX, AX:AJX OTC QX: AXXIY) holds proprietary patent applications for a process developed initially by the U.S. Department of Defense, which allows for the surface modification and attachment of nano-particles or multiple chemical functional groups to surfaces or substrates to provide functions such as fire retardancy, water proofing, oil proofing, and anti-microbial treatments. Applications under development include but are not limited to textiles, paints, and packaging, glass and building materials. Alexium's fire retardant chemical treatment are currently marketed for different fabric markets under the Alexiflam™, Ascalon™, Nycolon™, Nuvalon™, and Polytron™, Omnitron™ and Bactron™ trademarks.

Contact Information

  • U.S. Contacts:
    Nick Clark
    Chief Executive Officer
    nclark@alexiuminternational.com
    U.S.: +1 864.991.6687

    Bradi Dobson
    Marketing Specialist
    BDobson@alexiuminternational.com

    U.S. R&D Center:
    8 Distribution Court
    Greer, SC 29650
    T: +1 864.416.1060
    F: +1 864.752.6465

    U.S. Corporate Office:
    148 Milestone Way
    Greenville, SC 29615
    T: +1 864.603.1165
    F: +1 864.752.6465

    Australia:
    Matt Wright
    Investor Relations
    matt@nwrcommunications.com.au
    AUS: +61 451.896.420

    ABN: 91 064 820 408
    ASX: AJX