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Svenska Aerogel has reached a significant milestone with its Asian partner, Rayoung. Following successful efforts to utilize the properties of Quartzene[®], Rayoung has advanced two new customer projects to the next phase, resulting in a container order of approximately 1.4 tons of Quartzene[®]. This order marks an exciting development in the collaboration.
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The ordered container contains approximately 1.4 tons of Quartzene®, of which 1.2 tons are designated for a customer project in the building and construction industry. Since the material for this project is Svenska Aerogel's product type with the lowest density, these 1.2 tons nearly fill the entire space of a container. The remaining material, which is of hydrophobic quality, will be used for a project in the process industry. Both customer projects focus on thermal insulation, an area where Quartzene® excels due to its unique insulating properties and sustainable manufacturing process.
The order represents a significant step forward in the collaboration between Svenska Aerogel and Rayoung, clearly demonstrating that the efforts invested over the years are now showing tangible results. Tor Einar Norbakk, CEO of Svenska Aerogel, commented:
"This is not just a single order, but also an important testament to how we build business in our markets. We have seen several pilot orders during the spring, and all these customer projects will contribute to our growth as they mature. Together with our customers and partners, we are developing innovative solutions in thermal insulation, creating customer value and paving the way for further success in the future."
For further information, please contact:
Tor Einar Norbakk, CEO. Telephone: +46 (0)70 616 08 67. E-mail: toreinar.norbakk@aerogel.se
About Svenska Aerogel Holding AB (publ)
Svenska Aerogel manufactures and commercializes the mesoporous material Quartzene®. Svenska Aerogel's business concept is to meet the market's need for new materials that are in line with global sustainability objectives. Quartzene® is flexible and can be tailored to different applications to add essential properties to an end product. The company's vision is to be the most valued business partner providing pioneering material solutions for a sustainable world.
Svenska Aerogel Holding AB is listed on Nasdaq First North Growth Market. Certified Adviser is FNCA.
Gävle, June 13, 2024