PERTH, AUSTRALIA and GREER, SC—(Marketwired – May 22, 2016) –
- Alexium's flame retardant phase change material (PCM) to be exclusively used by leading global mattress ticking producer.
- Alexium deal breaks new ground in PCM bedding market, with estimated share for Alexium of more than $5 million revenue per annum
- Multi–year production plan now being developed.
Alexium International Group Limited (“Alexium,” “the Company”) (
The Sales Agreement follows a six–month period of extensive testing and production trials. Sales commence second quarter calendar year (CY) 2016, and a multi–year production plan is now being developed.
“This is a breakthrough Sales Agreement in the phase change materials sector,” said Nicholas Clark, CEO, Alexium, “and opens up the higher volume mid–priced bedding market as well as high–end bedding.”
“Our share of the PCM bedding market is more than $5 million annually,” said Clark, “and we expect this share to grow rapidly given the performance, cost and environmental benefits of our fire retardant PCM product. Alexium's FR PCM technology provides bedding manufacturers with an exciting new product feature in a market where innovation is typically incremental. Our customers in this segment will now be able to significantly increase market share by offering what is a new and sought–after feature. We are well capitalized to meet this client's expectations whilst maintaining our existing accounts.”
“With this Sales Agreement, we have launched an entirely new FR product, and we're already making significant inroads with scale–up trials with a number of other bedding manufacturers.”
The global bedding customer has plants in North America and Europe, and supplies most of the major manufacturers in the U.S. and abroad with fabrics used for mattress covers.
Phase Change Materials are used for a wide range of applications and makes materials cool to the touch. As the non–innerspring mattress market continues to grow, the use of PCM expands as well.
“Alexium was selected for this partnership due to our innovative technology and proven capability to meet customer's needs,” said Dirk Van Hyning, President, Alexium. “We have a significant competitive advantage in the PCM market with our ready–to–use chemistry solution and are pleased to have reached this first Sales Agreement in this valuable market segment.”
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Alexium International Group Limited (