2021-09-30 08:03:00
Oslo, Norway September 30, 2021.
CondAlign: Securing the fundament for license agreements
Highlights:
Advancing product development projects with customers
Continued strong interest in CondAlign technology from leading market players
Started preparations for future high-volume production
R&D projects within Carbon Capture to secure Proof of Concept and improving hydrogen hydrolysis/fuel cells
Strengthening the organization to ramp-up commercial efforts and product development capabilities
Advancing product development projects with customers
CondAlign is working with several potential customers to qualify products and commercialize the technology. Product engineering cycles are complex and time consuming and depend on the development progress of our customers. To manage resources CondAlign is prioritizing projects within selected target markets with large potential:
Thermal interface materials (TIM): In cooperation with a global client, CondAlign initiated a program in 2020 for developing improved thermal film for battery packs in electric vehicles. We are obtaining the specified thermal requirements and are working to optimize additional parameters like softness, thickness, and flexibility. The project is progressing well towards reaching the desired specifications. Based on the positive outlook, CondAlign and the customer have decided to extend the project. Technical verification is expected during Q4, with business case validation and licensing negotiations being the next steps. This market is experiencing high growth and is predicted to reach USD 3.3bn by 2030[2].
Flexible and in-mold electronics: CondAligns innovative electrical tape allows small electronic components to be attached without use of heat and pressure. CondAlign is working with several customers that want to use our tape within their electronics products. Internal testing based on customer specification has been highly encouraging. This market is expected to reach USD 1.0bn in 2030[1].
Display market: CondAlign is currently engaged with a large client for using CondAligns technology in its displays. Initial testing by the client has given positive results and negotiations regarding a comprehensive product development project is ongoing. The market for anisotropic conductive material for displays is predicted to reach USD 500m by 2030[1].
1) Source: IDtechX 2) Source: IDtechX and Company estimates
Continued strong interest in CondAlign´s technology
In addition to ongoing customer projects, CondAlign is continuously being approached by global market leaders who have identified the technology as a solution to solve their requirements for developing new and better products cost effectively. Recently new potential customers within consumer electronics, suppliers to the automotive industry and a large manufacturing company have been added. The sales force has been strengthened and is also proactively developing new business opportunities.
Started preparations for future high-volume production
CondAlign´s strategy is to be a technology provider. To meet future demands from large potential customers, CondAlign has started a process to identify suitable production partners to prepare for future volume production.
Continuing to develop R&D projects
CO2 Capture: CondAlign is co-operating with NTNU and SINTEF in an R&D project to show proof of concept for membranes improving gas filtration. Proven successfully there is a significant market potential for commercialization. The technology is in an early phase and will depending on reaching a milestone in early 2022 decide on paths moving forward.
Fuel cells for Hydrogen: CondAlign is a partner in the CORE research project together with SINTEF and The University of Chemistry and Technology, Prague. Through participating in CORE, CondAlign targets to apply its platform technology in solutions for the rapidly growing market for hydrogen production and energy conversion. Improving key components is essential to increase the lifetime and cost effectiveness of electrolysers and fuel cells. The project started in 2021 and will carry on throughout 2023.
Strengthening the organization
As part of the commercialization plan, CondAlign raised NOK 75 million in equity in February. CondAlign is investing into expanding internal capacity in product development through new equipment and growing the organization. This strengthening will continue going forward to meet the growing interest from existing relations and new potential customers. The Company is ramping up commercialization and product development and is attracting the rightly skilled resources.
CondAligns patented technology ensures significant competitive advantages in mega markets. Our business model with license agreements secures high margins.
CondAlign is planning an investor presentation by the end of October.
For further information, please contact:
Bjørn Maarud
CEO
Mobile: +47 900 20 724
About CondAlign AS
CondAlign is a Norwegian technology company developing conductive films for highly efficient directional conduction of electricity, heat and industrial gases. CondAligns patented technology enables the development of new break-through consumer products as well as industrial applications. The company has a license-based business model and targets high volume markets.