TIDMHEIQ
HeiQ PLC
06 July 2023
RNS Reach
06 July 2023
HeiQ Plc
("HeiQ" or "the Company")
MAS Holdings invests in HeiQ AeoniQ
HeiQ Plc (LSE: HEIQ), a leading company in materials innovation,
announces that MAS Holdings ("MAS"), a global apparel & textile
manufacturing and tech conglomerate headquartered in Sri Lanka, and
the largest apparel and textile manufacturer in South Asia with
approximately USD2 billion in turnover, through MAS' affiliate
company, MAS Regent Pte Ltd., has secured a stake in HeiQ AeoniQ
GmbH, a subsidiary of HeiQ Group that will produce HeiQ AeoniQ(TM),
the Company's climate-positive cellulosic yarn.
With this US$2.5 million investment (US$1.5 million with the
contract signature, and US$1 million upon reaching a mutually
agreed milestone), MAS becomes the first manufacturer to partner
with HeiQ AeoniQ(TM) in their efforts to provide a sustainable
alternative to polyester and nylon. The investment by MAS is part
of its strategy to drive a positive environmental impact. The MAS
"Plan for Change" initiative aims to generate 50% of the company's
revenue through sustainable products by 2025, revolutionizing the
textile industry with a focus on innovation, sustainable sourcing,
and pioneering circularity at scale.
HeiQ and MAS firmly believe that rapid scaling is key to
facilitating the fast adoption of sustainable, circular
technologies such as HeiQ AeoniQ(TM). Therefore, and subject to the
completion of certain milestones and a mutual plan for
commercialization, HeiQ and MAS have agreed to a five-year
non-binding offtake agreement, pursuant to which the Company
expects to receive purchase orders of up to US$100 million over a
5-year period, corresponding to 3,000 tons of HeiQ AeoniQ(TM) yarn
in 2025 and 5,000 tons per year from 2026 to 2029.
Since its launch in Q4 2021 the HeiQ AeoniQ(TM) technology has
been attracting the attention of major global players in the
textile and clothing industries.
Using a proprietary manufacturing method, for the first time in
history, a cellulosic filament yarn can be made from a wide range
of non-valorized feedstock and is able to reproduce comparable
performance features of polyester or nylon, while being sustainable
and endlessly circular.
The HeiQ AeoniQ(TM) pilot plant in Austria has been
manufacturing this continuous cellulosic filament yarn since Q3
2022, with an annual capacity of up to 100 tons that will be
upscaled up to 300 tons per year by the end of 2023.
The scale-up of HeiQ AeoniQ(TM) production capacity will be
driven over the coming years, and it is expected that by early
2026, the first large scale production site with an annual capacity
of about 30,000 tons will be commissioned.
Carlo Centonze, CEO of HeiQ Group, said, "Since the beginning,
HeiQ has pioneered textile innovation, revolutionizing sustainable
functionality and enhancing the lives of billions. With the
introduction of HeiQ AeoniQ(TM), we solidify our unwavering
commitment to disrupting the textile industry -a sector that has
long held the dubious distinction of being the world's
second-largest polluter. MAS' investment and offtake agreement
serves as a resounding endorsement of HeiQ AeoniQ(TM), and is a
natural result of the trust built over a decade that HeiQ and MAS
have been doing business together."
Group Chief Executive Officer of MAS Holdings, Suren Fernando
adds, "MAS was built on the foundational belief of doing the right
thing. As a global organization nurturing over 100,000 individuals,
we are convinced of our responsibility to drive positive change
within the apparel industry through sustainable product solutions.
We believe that this investment is an important step in our efforts
to reshape our industry by driving innovation, collaboration, and
scale. With HeiQ AeoniQ(TM) as a key catalyst, we are poised to
pave the way for a more sustainable future."
Polyester and nylon, two oil-based fibers, virtually
non-recyclable, account for about 70% of all the global textile
production, they take between 350 to 1000 years to degrade in
nature, are currently close loop recycled at less than 1%, and are
at the origin of 35% of the microplastics that can be found in
today's oceans. HeiQ AeoniQ(TM) was innovated and is being
hyper-scaled up to change this course of action.
For further information, please contact:
HeiQ Plc
Carlo Centonze (CEO) +41 56 250 68 50
Cenkos Securities plc (Broker) +44 (0) 207 397
Stephen Keys / Callum Davidson 8900
------------------
SEC Newgate (Media Enquiries) +44 (0) 20 3757
Elisabeth Cowell / Molly Gretton / Tom 6882
Carnegie HeiQ@s ecnewgate
.co.uk
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About HeiQ
HeiQ is a Swiss-based international company that innovates
pioneering and differentiating materials in partnership with
established global brands. We bridge the academic and commercial
worlds to conceive performance-enhancing materials and
technologies, working with aligned brands to research, manufacture
and bring products to market, aiming for lab to consumer in months.
Our goal is to improve the lives of billions by innovating the
materials that go into everyday products, making them more
hygienic, comfortable, protective, and sustainable.
Our strong IP portfolio positions us as an innovation leader for
niche, premium and high-margin products in the textile chemicals,
man-made fibers, paints and coatings, antimicrobial plastics,
probiotics and household cleaner markets. We have also expanded
into healthcare facilities, probiotic cleaning, and hygiene
coatings markets to help make hospitals and healthcare environments
more hygienic.
We have developed over 200 technologies in partnership with 300
major brands. With a substantial research and development pipeline,
including key technology development projects HeiQ AeoniQ, HeiQ
ECOS, HeiQ GrapheneX, and HeiQ Synbio, HeiQ aims to deliver
shareholder value through sales growth and entry into new lucrative
markets through disruptive innovation and M&A.
We have built a strong reputation for ESG & sustainable
innovation, having won multiple awards including the Swiss
Technology Award twice and the Swiss Environmental Award. Under
experienced leadership, we are committed to driving our profit in
close connection with people and the planet. For more information,
please visit www.heiq.com.
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