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PolarCool AB (publ) has signed an agreement with the Bundesliga club TSG Hoffenheim for use of the PolarCap® System. The agreement marks an important first step for the company in the German football market.
PolarCool develops the product PolarCap® System which alleviates the effects of concussion. The company's primary customers are clubs and organizations in sports such as ice hockey, rugby, handball, and sports with an increased risk of concussion. The company has recently landed several strategic agreements in France and the United Kingdom, while the company has also continued to broaden its presence in the domestic market.
TSG Hoffenheim compete in the Bundesliga which is recognized worldwide as Germanies highest league. The team will use the PolarCap® from the beginning of the upcoming season in an initial evaluation period, with the possibility of continuing into a two-year commercial agreement after the evaluation. The agreement is limited in size but marks an important breakthrough in the German football market.
In addition to the ice hockey and rugby markets where head injuries are very common, the football market is also very interesting for PolarCool due to its market size. Even though head injuries are not as frequent in football, the injury creates major problems and significant costs to clubs when they occur. Because of this, PolarCool is facing increased interest from several top European clubs.
PolarCool's CEO Erik Andersson comments:
- The agreement with the German top club TSG Hoffenheim is very gratifying. The German football market, along with France and the United Kingdom, are very interesting markets for PolarCool in Europe. We have previously had breakthroughs in the top football leagues in both France and England. It has increased the interest from other clubs in the markets significantly. Our hope is to now be able to reach out to more German clubs as well as other clubs on the European football market.
PolarCool has targeted Germany as a market of importance and the agreement with TSG Hoffenheim will aid in the company's market approach. Recently within Germany the company announced the agreement renewal of DEL Ice Hockey team Adler Mannhiem, who have extended their PolarCap® agreement to 2024.