Cleantech Building Materials: China Distribution and Offtake agreement

2 July 2018

CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH, COPENHAGEN

TICKER: CBM

Cleantech Building Materials plc

China Distribution and Offtake agreement

Cleantech Building Materials plc ("CBM" or the "Company") is pleased to announce that CBM's subsidiary, Diamond Wood China Limited ("Diamond Wood"), has entered into a Distribution and Offtake Agreement with Wise Technology of China ("WISE") (the "Agreement").

Under the terms of the Agreement, WISE has committed to purchase a significant volume of Accoya® wood from Diamond Wood to be sold to manufacturers and project contractors in China's Northern regions and Southern interior regions of Sichuan and Chongqing provinces. The initial duration of the agreement is for three years.

Diamond Wood benefits from exclusive rights to manufacture and sell Accoya® wood in China and the ASEAN countries, through its technology license agreement with Titan Wood Limited, a subsidiary of Accsys Technologies plc.

Based in Beijing, China, WISE is the pioneer in the marketing of high performance materials to the Chinese construction sector, and through this Agreement with Diamond Wood is extending its portfolio to sustainable construction materials.

Commenting, Jason Wang, CEO of CBM and Diamond Wood, said: "We are pleased to partner with Wise on accelerating the growth of Accoya® sales in the Chinese market. In China and Asia there is an increasing awareness of the Accoya® wood brand and its applications in producing high-performance flooring, decking, siding, outdoor furniture, windows and doors".

Commenting, Paul Richards, Chairman of CBM, said: "This three-year distribution and offtake agreement with WISE builds upon similar large-volume agreements with STR in Thailand and China's Xinli Group. Diamond Wood is successfully building a solid order book for the coming few years in anticipation of the Company's plan to construct its own Accoya® manufacturing facility in China."

Commenting, Roy Song, General Manager of WISE, said: "One of the beautiful things about wood is its uniqueness, with every piece having its special appearance. Accoya® timber is changing the traditional way of making wood durable, removing the need for hazardous copper or biocides that can leach into the environment over time. Moreover, Accoya wood provides added-value on dimensional stability and its sustainable credentials. After a decade of literally thousands of reference projects in Asia and around the world, Accoya® has earned a reputation as a very reliable product. We believe Accoya® timber will both diversify our product range, but also strengthen our relations with innovative manufacturers and architects in China."

THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

Further information may be found at the Company's website at www.cbm-plc.com.

Further Enquiries:

Cleantech Building Materials plc

Adrian Wyn-Griffiths info@cbm-plc.com +44 20 3053 8671

Keswick Global AG (Certified Adviser)

info@keswickglobal.com +43 1 740 408045

IFC Advisory Limited (Financial PR)

Tim Metcalfe, Miles Nolan, Heather Armstrong +44 20 3934 6630

The information communicated in this announcement is "inside information" for the purposes of article 7 of the Market Abuse Regulation 596/2014.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cleantech Building Materials via Globenewswire

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