Licence Option Agreement (0051A)
January 25 2011 - 2:00AM
UK Regulatory
TIDMAXS
RNS Number : 0051A
Accsys Technologies PLC
25 January 2011
AIM: AXS
NYSE Euronext Amsterdam: AXS
25th January 2011
ACCSYS TECHNOLOGIES PLC ("Accsys" or "the Company")
Licence Option Agreement
Accsys, the environmental science and wood technology company,
announces that Titan Wood Limited ("Titan Wood"), its wholly-owned
subsidiary, has entered into a licence option agreement (the
"Option Agreement") with a major multinational corporation in
relation to the production and sale of Accoya(R) using Titan Wood's
proprietary acetylation technology (the "Technology").
Under the Option Agreement, Titan Wood has granted an exclusive
option to enter into a licence agreement, pursuant to which rights
over the Technology may be granted in certain states within Europe.
There can be no certainty that the parties will enter into any
licence agreement and the detailed terms of any licence agreement,
including payment of licence fees and royalties, are currently
being negotiated, but yet to be agreed.
Paul Clegg, Accsys CEO, commented: "As outlined in our recent
Interim Results, we have been engaged in a number of discussions in
relation to major licensing, fundraising and other strategic
opportunities for some while. This Option Agreement represents an
important step forward and we are excited about the opportunities
that it presents. We shall continue to work extremely closely with
this counterparty and very much hope we can agree full licensing
terms in the near future. "
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Citigate Dewe
PLC Hans Pauli, CFO Rogerson
Stephen Mischler
Matrix Corporate Capital Nick Stone
LLP Edmund Glover +44 20 3206 7000
Citigate Dewe Rogerson Ginny Pulbrook +44 20 7282 2945
Malcolm Robertson +44 20 7282 2867
Suzanne Bakker +31 20 575 4023
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is an environmental
science and technology company whose primary focus is on the
production of Accoya(R) wood and technology licensing via its 100%
owned subsidiary, Titan Wood Limited, which has manufacturing
operations in Arnhem, the Netherlands, a European office in London
and an Americas office in Dallas, Texas. Accsys Technologies'
operations comprise three principal business units: (i) the
Accoya(R) wood production facility located in Arnhem, The
Netherlands; (ii) technology development, focused on a programme of
continuous improvements to the process engineering and operating
protocols for the acetylation of wood which are currently under
development and the development of technology for the acetylation
of wood fibre; and (iii) the licensing of technology for the
production of Accoya(R) wood and Tricoya(R) wood elements across
the globe.
Accoya(R) Wood (www.accoya.info) is produced by using a
proprietary, non-toxic process that effectively converts
sustainably grown softwoods and non-durable hardwoods into what is
best described as a "high technology wood" via acetylation.
Distinguished by its durability, dimensional stability and, perhaps
most importantly of all, its reliability (in terms of consistency
of both supply and quality), Accoya(R) wood is particularly suited
to exterior applications where performance and appearance are
valued. Unlike most woods, its colour does not degrade when exposed
to sunlight. Moreover, the Accoya(R) wood production process does
not compromise the wood's strength or machinability. The
combination of UV resistance, dimensional stability, increased
coatings life, durability and retained strength means that
Accoya(R) wood offers a wealth of new opportunities to architects,
designers and specifiers. Leading applications include external
doors and windows, shutters/shading, siding and cladding, decking,
outdoor furniture/equipment and glulam beams for structural
use.
Tricoya(R) Wood Elements (www.tricoya.com) is Accsys
Technologies' proprietary technology for the acetylation of wood
fibres, chips, and particles for use in the fabrication of wood
based composites, including panel products. These composites
demonstrate enhanced durability and dimensional stability which
allow them to be used in a variety of applications which were once
limited to solid wood or man-made products. Tricoya(R) Wood
Elements is lauded as the first major innovation in the wood
composites industry in more than 30 years.
Wood Acetylation is a process, which increases the amount of
'acetyl' molecules in wood, thereby changing its physical
properties. The environmentally responsible process protects wood
from rot by making it "inedible" to most micro-organisms and
insects, without - unlike conventional treatments - making it
toxic. It also greatly reduces the wood's tendency to swell and
shrink, making it less prone to cracking and ensuring that, when
painted, it requires dramatically reduced maintenance. Acetylated
wood's increased durability offers major carbon sequestration
advantages, compared to other woods and man-made building materials
such as steel, vinyl, and plastic.
Wood Composites include a range of derivative wood products
which are manufactured by binding together the strands, particles,
fibres, or veneers of wood together with adhesives to form
composite materials. These products are engineered to precise
design specifications which are tested to meet national or
international standards.
ACCOYA(R), TRICOYA(R), the Trimarque Device and the Elements
logo are registered trademarks owned by Titan Wood Limited and may
not be used or reproduced without written permission.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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