SOURCE: Alexium International Group

Alexium International Group

November 23, 2015 10:12 ET

Exceptional Results From European Automotive Fabric Supplier

PERTH, AUSTRALIA and GREER, SC--(Marketwired - Nov 23, 2015) -  Alexium International Group Limited (Alexium) (ASX: AJX) (OTCQX: AXXIY) is pleased to announce that Alexium has successfully passed the second phase of fire retardant (FR) testing from production runs on Alexiflam™ treated fabrics for Alexium's European Automotive Fabric Supplier (Customer).

Highlights:

  • Results for Large European Automotive Fabric Supplier far exceed industry standards;
  • Customer moving towards full scale commercial production on First Product Line;
  • First Product line has potential to generate revenue of $USD300,000 pcm;
  • Full Customer revenue potential across a range of products estimated at US$10-15m pa;
  • Customer also operates in the yachting and private jet markets.

Alexium has been working closely with this Customer who placed a first purchase order for initial trials in June 2015 (see previous press release).

The second round production run testing included:

  • FMVSS 302 (standard automotive FR test): 100% passed
  • Fogging: Passed with results 73% below the specification*
  • Formaldehyde: Passed with results 70% below the specification*
  • Analysis of VOC (Volatile Organic Compounds): Passed with results 75% below the specification*

*These results show that our environmentally friendly Alexium FR products not only meet specification, but also far exceed the industry standards

These results, certified by both the Customer and an independent third party, follow on from a number of customer paid production trials with the Customer now moving towards full-scale commercialization.

The Customer is now laying out the key milestones for a projected product rollout. Following the successful rollout, the program has the potential to generate USD$300,000 monthly for this first product line.

In addition to the European Automotive Industry, this Customer also supplies FR fabrics and finished FR products for the yachting and private jet markets. The total annual potential revenue opportunity for Alexium from this Customer over a range of products is estimated to be in the order of US$10-$15m annually.

"The obtained results -- exceeding industry standards by over 70% -- is a huge competitive advantage for Alexium in the FR industry, let alone our environmentally friendly credentials," stated Dirk Van Hyning, President.

About Alexium

Alexium International Group Limited (ASX: AJX) (OTCQX: 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