Nanollose Limited (ASX:NC6) (“Nanollose” or the “Company”) a leading biotechnology company commercialising scalable technology to create fibres and fabrics with minimal environmental impact, is pleased to announce that the Company has made a $200,000 strategic investment (“Investment”) to acquire a 20% holding in CelluAir Pty Ltd (“CelluAir”), an Australian company developing an advanced filtration technology (“AFT”) based on nanocellulose.
Nanollose has made a $200,000 strategic investment to acquire a 20% holding in CelluAir, an Australian company developing an Advanced Filtration Technology (“AFT”) based on nanocellulose.
Developed by Queensland University of Technology, the AFT has been developed and validated over a number of years, culminating in the filing of a patent application in July 2020.
Capital from the Investment will be used to scale the AFT using off-the-shelf commercial equipment, in addition to commencing discussions with potential sales partners and distribution channels in Australia and internationally.
The Investment potentially enables Nanollose to enter the high growth personal protective equipment market, within which the face mask sector alone has reached US$11b in 2020, with strong growth forecast1 .
The AFT and CelluAir are being incubated by Innovyz, the commercialisation specialists responsible for developing and listing of Titomic Limited (ASX:TTT) and Amaero International Limited (ASX:3DA).
Strong working synergies exist between the companies, with the opportunity for Nanollose to supply microbial cellulose and expertise in nanocellulose to CelluAir, assisting in the commercialisation of the technology.
The commercialisation of Nanollose’s Tree-Free fibres remains the Company’s first priority.