TIDMHEIQ
RNS Number : 7931S
HeiQ PLC
19 March 2021
This article is not intended to be distributed in the USA.
19 March 2021
HeiQ Plc
("HeiQ" or "the Company")
HeiQ Viroblock Agreement with ICP
HeiQ (LSE:HEIQ), an established global brand in materials and
textile innovation which operates in high-growth markets, is
pleased to announce that it has signed an Exclusive Licence and
Chemicals Supply Agreement with ICP Industrial Inc, a division of
ICP Group ("ICP"), the global leader in the development,
application, and technical support of innovative thin film coatings
which are applied to packaging used by the FMCG, pharmaceuticals
and medical sectors.
The two companies have signed a five year contract (US$8m in the
first two years, at which point the contract is subject to renewal)
which is expected to deliver US$30m of royalty revenue to the
Company ("the Minimum Exclusive Requirement") in exchange for
exclusive worldwide rights to apply HeiQ Viroblock to coatings for
printing processes such as commercial print, food, beverage and
pharma packaging. ICP will market its products with the HeiQ
Viroblock technology and trademarks to its downstream customers,
which manufacture packaging products for some of the world's
largest consumer brands. This will enable brand owners to market
products packaged in materials with antimicrobial properties to
consumers. The two companies are currently completing the product
development, due to be finalized at the latest by 1(st) August
2021, following which the exclusivity period begins. HeiQ will
supply ICP with HeiQ Viroblock, an antimicrobial technology proven
to destroy over 99.99% of infectious viruses and bacteria within
minutes, and will receive a percentage of ICP's net sales in the
form of royalties, in line with its strategy to grow its high
margin royalty and licensing business. The partnership enables HeiQ
to bring its market leading antimicrobials and other HeiQ
technologies into several new industry fields served by ICP.
HeiQ co-founder and CEO Carlo Centonze said:
"This multi-year agreement with a global print and packaging
coating leader builds on our recent contract to apply HeiQ
Viroblock to paint, demonstrating that HeiQ Viroblock and
antimicrobial technology is becoming mainstream for all materials
that we touch in our daily lives. It is with great pleasure that we
team up with ICP Industrial Inc, a global leader which provides the
print and packaging industry with advanced coating technologies. It
is of paramount importance given that the global pandemic has shown
that viruses can remain infectious on paper and cardboard for
several days. These recent agreements relating to HeiQ Viroblock
being adopted by businesses outside of the textile industry also
highlight that our award-winning innovation has entered a new phase
in its lifecycle and that the brand equity we have built as an
innovation leader is delivering meaningful returns. Subject to a
successful trial period, we believe that this royalty arrangement
has the potential to deliver strong, high margin sales for HeiQ and
to strengthen our brand equity significantly, through uptake by
ICP's blue chip client base."
ICP Industrial's Division President Paul Grzebielucha said:
"We are excited to offer this new innovative life-saving
technology to the print world. We have global reach under our
brands of Nicoat, MinusNine and Hitech Coatings to provide this
protection on billions of printed surfaces per year. This HeiQ
Viroblock game changing technology for our industry and society has
proven to be a superior solution that is currently available in the
marketplace. HeiQ products have proven efficacy in terms of
destroying infectious viruses in minutes rather than hours with an
effective rate of 99.95%. ICP Industrial has always provided
innovative solutions to the graphic arts and packaging segments
while maintaining the highest level of customer and technical
service in the industry. ICP Industrial is very excited about the
partnership with HeiQ bringing this technology to market providing
a safer touch environment to the world."
For further information, please contact:
HeiQ Plc
Carlo Centonze (CEO) +41 56 250 68 50
Arlington Group Asset Management Limited
(Financial Advisor and Joint Broker)
Charles Cannon Brookes +44 (0) 207 389 5017
---------------------
Cenkos Securities plc (Joint Broker)
Stephen Keys / Callum Davidson +44 (0) 207 397 8900
---------------------
SEC Newgate (Media Enquiries) +44 (0) 20 3757 6882
Elisabeth Cowell / Robin Tozer / Megan Kovach HeiQ@s ecnewgate
.co.uk
---------------------
About HeiQ
HeiQ is a pioneer and at the forefront of global technology in
the $10 billion antimicrobial fabrics and $24 billion textile
chemicals market. With the focus on materials and textile
innovation, HeiQ has created some of the most effective, durable
and high-performance technologies and textile effects in the market
today, which cool, warm, dry, repel, purify, and destroy viruses.
Since 2005, HeiQ has developed over 200 technologies in partnership
with 300 major brands.
HeiQ is a high intellectual capital company which has
successfully built up a reputation in textile technologies, having
won multiple awards and innovating with leading eco-conscious
brands such as Patagonia.
Led by an experienced management team, HeiQ rapidly researches
new solutions for partners, quickly delivers scaled up
manufacturing from its sites across the world and helps partners
market the product to end consumers - aiming for lab to consumer in
months.
HeiQ aims to deliver growth for its shareholders through a
combination of increased sales of its core products and by entering
additional lucrative markets through disruptive innovations.
About ICP
ICP Industrial Inc, a division of Innovative Chemical Products
("ICP Group") is a global leader in the development, application
& technical support of innovative specialty coatings for the
graphic arts industry. ICP Industrial's platform, led by trusted
brands Nicoat(R), MinusNine and Hitech Coatings, delivers
innovative solutions to the packaging, labeling and graphic arts
industries. The ICP R&D team, Technical Service and Technical
Sales Managers support customers to leverage the high-performance
portfolio of aqueous, UV/LED/EB, silicone and specialty coatings
and adhesive technologies with operations headquartered in Itasca,
Illinois. ICP Industrial manufacture these coatings in multiple
facilities around the world.
The expanding ICP Group specializes in manufacturing and
distributing professional products for building envelopes,
flooring, sport surfaces, packaging and specialty print. Founded in
2015 and supported by a lean corporate team, ICP Group has scaled
rapidly through organic and acquisition growth into one of the
largest coatings, adhesives, and sealants companies in North
America. ICP Group is privately held and manufactures products
under several recognized specialty groups. For more information,
visit www.icpindustrial.com or www.icpgroup.com.
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