BP Strategic Relationship

RNS Number : 7655Y

Accsys Technologies PLC

06 March 2012

 



AIM: AXS

NYSE Euronext Amsterdam: AXS

06 March 2012

ACCSYS TECHNOLOGIES PLC

("Accsys" or the "Company")

Accsys and BP Chemicals Announce Strategic Collaborative Relationship

Accsys, the environmental science and wood technology company, is pleased to announce a collaborative strategic relationship with BP Chemicals Ltd. ("BP") under which BP will supply acetic anhydride for the production of Accsys' Accoya^® wood and Tricoya^® wood elements. Accsys and BP intend the collaboration to support further product and application developments which are expected to contribute to the demand for acetylated materials.

Accsys' first product, Accoya^® wood, has won numerous accolades for its ecological benefits, including the prestigious Cradle-to-Cradle^® "Gold" level sustainability certification from MBDC, and recognition and awards from Dubokeur, the IWPA, DWM, The Future Build and BRE, among others. Accsys expects similar accolades for its Tricoya^® product, which was recently launched commercially in conjunction with Medite Europe Ltd ("Medite"), Ireland.

BP is one of Europe's major manufacturers of acetyls-based chemicals. As part of the strategic collaborative relationship, BP will supply acetyls products to Accsys Technologies for Accoya^®, Tricoya^® and related technology and also intends to provide support in relation to Accsys' current operations. It is also proposed that BP will offer guidance to Accsys' potential licensees on acetyls related matters.

Frédéric Baudry, BP's Vice President Petrochemicals, Europe, commented:

"I am delighted that we have reached this agreement with Accsys Technologies. As the main supplier of the acetyls that Accsys uses to modify its wood we look forward to working closely with Accsys and using our expertise to assist product development and support their potential licensees."

Paul Clegg, CEO of Accsys commented:

"The long term objective of Accsys is to licence its proprietary acetylation technology for the manufacture and sale Accoya^® and Tricoya^® to third parties around the world. BP's commitment to us as a supplier and its willingness to collaborate with us, both in assisting our operational development and supporting our licensing goals, further strengthens our business proposition. In addition, there is potential for the development of new applications which could add further value to our technology platform. We are looking forward to working with BP to help deliver these mutually beneficial outcomes."

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Hans Pauli, CFO	via Citigate Dewe Rogerson
Numis Securities Limited	Nominated Adviser: Oliver Cardigan Corporate Broking: Christopher Wilkinson	[phone]
Citigate Dewe Rogerson	Ginny Pulbrook Malcolm Robertson Suzanne Bakker	[phone] [phone] [phone]

Notes to Editors:

Accsys Technologies PLC (www.accsysplc.com) is an environmental science and technology company whose primary focus is on the production of Accoya^® wood and technology licensing via its subsidiary, Titan Wood Limited, which has manufacturing operations in Arnhem, the Netherlands (through its subsidiary Titan Wood B.V.), a European office in Windsor, United Kingdom, and an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc). All group subsidiaries are ultimately 100% owned by Accsys and trade as Accsys Technologies.  Any references in this announcement to agreements with Accsys shall mean agreements with either Accsys or its subsidiary entities unless otherwise specified.  Accsys Technologies PLC is listed on the London Stock Exchange AIM market and on Euronext Amsterdam by NYSE Euronext, under the symbols 'AXS'. Accsys' operations comprise three principal business units: (i) Accoya^® wood production; (ii) technology development, focused on a programme of continuous development of and improvements to the process engineering and operating protocols for the acetylation of solid wood and the development of technology for the acetylation of wood elements; and (iii) the licensing of technology for the production of Accoya^® wood and Tricoya^® wood elements across the globe.

BP p.l.c. (www.bp.com), the ultimate parent company of BP Chemicals Limited,  is one of the world's largest oil and gas companies, serving millions of customers every day in more than 90 countries, and employing 80,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses, and a carbon capture technology team. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.

Medite Europe Ltd. (www.medite-europe.com) is part of Coillte Panel Products and owned by Coillte, the Irish forestry and forest products company. Medite products are recognised as the benchmark for quality, consistency and performance in MDF, as well as being Forest Stewardship Council (FSC) certified. Medite has led the market in technical innovation, introducing such advances as moisture resistant, flame retardant, exterior grade, zero-added formaldehyde and flooring quality MDF varieties, and their programme of innovation is continuous.

Coillte Panel Products (www.coillte.ie) is a significant and powerful player in Europe's composite board marketplace. Its brands Medite MDF and SmartPly OSB are FSC certified which differentiates them from many competitor and substitute products, and enables them to meet environmental standards which are becoming increasingly important to designers, specifiers, architects and clients for both public and private projects.

Wood Acetylation is a process which increases the amount of 'acetyl' molecules in wood, thereby changing its physical properties. The process protects wood from rot by making it "inedible" to most micro-organisms and fungi, without - unlike conventional treatments - making it toxic. It also greatly reduces the wood's tendency to swell and shrink, making it less prone to cracking and ensuring that, when painted, it requires dramatically reduced maintenance.

Accoya^® wood (www.accoya.com) is produced using Accsys' proprietary patented acetylation technology, that effectively converts sustainably grown softwoods and non-durable hardwoods into what is best described as a "high technology wood". Distinguished by its durability, dimensional stability and, perhaps most importantly of all, its reliability (in terms of consistency of both supply and quality), Accoya^® wood is particularly suited to exterior applications where performance and appearance are valued. Unlike most tropical and European hardwoods, its colour does not degrade when exposed to ultraviolet light. Moreover, the Accoya^® wood production process does not compromise the wood's strength or machinability. The combination of UV resistance, dimensional stability, durability and retained strength means that Accoya^® wood offers a wealth of new opportunities to architects, designers and specifiers. For marine uses where weight is also important, Accoya^® wood for the first time provides boat builders with a wood that is strong, lightweight, durable and retains its natural beauty for far longer.  For a full archive of Accoya^® news, visit www.accoya.com/news.asp.

Tricoya^® Wood Elements (www.tricoya.com) are produced using Accsys' proprietary technology for the acetylation of wood chips, and particles for use in the fabrication of wood based composites, including panel products. These composites demonstrate enhanced durability and dimensional stability which allow them to be used in a variety of applications that were once limited to solid wood or man-made products. Tricoya^® Wood Elements is lauded as the first major innovation in the wood composites industry in more than 30 years.

MBDC (www.mbdc.com) is a global sustainability consulting and product certification firm founded in 1995 by world-renowned architect William McDonough and chemist Dr. Michael Braungart. MBDC consults clients on leaving a 'positive footprint' on the planet (instead of reducing a negative footprint) by implementing the Cradle to Cradle^® Framework.  Cradle to Cradle^® Certification is a rigorous and comprehensive certification program that evaluates products and materials for human health, environmental health and recyclability. 

IWPA (www.iwpawood.org) The International Wood Products Association (IWPA) presented Accoya^® wood with the Innovative Excellence Award at its 2011 annual convention in New Orleans.

DWM (www.dwmmag.com) Accoya^® wood received the 2010 Green Products Award from Door & Window Manufacturer Magazine (DWM). The winners were based on nominations from industry manufacturers and DWM editors. Accoya wood was selected as the winner for the Wood Products Category.

BRE (www.bre.co.uk) is an independent and impartial research-based consultancy, testing and training organisation, offering expertise in every aspect of the built environment and associated industries. BRE works with its clients to help create better, safer and more sustainable products, buildings, communities and businesses.  

 

END

 

 

AGRLLFFIVIIRIIF