Licence Option Agreement

RNS Number : 0051A

Accsys Technologies PLC

25 January 2011

 



AIM: AXS

NYSE Euronext Amsterdam: AXS

25^th January 2011

ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")

                                                           Licence Option Agreement

Accsys, the environmental science and wood technology company, announces that Titan Wood Limited ("Titan Wood"), its wholly-owned subsidiary, has entered into a licence option agreement (the "Option Agreement") with a major multinational corporation in relation to the production and sale of Accoya^® using Titan Wood's proprietary acetylation technology (the "Technology").

Under the Option Agreement, Titan Wood has granted an exclusive option to enter into a licence agreement, pursuant to which rights over the Technology may be granted in certain states within Europe. There can be no certainty that the parties will enter into any licence agreement and the detailed terms of any licence agreement, including payment of licence fees and royalties, are currently being negotiated, but yet to be agreed.

Paul Clegg, Accsys CEO, commented: "As outlined in our recent Interim Results, we have been engaged in a number of discussions in relation to major licensing, fundraising and other strategic opportunities for some while. This Option Agreement represents an important step forward and we are excited about the opportunities that it presents. We shall continue to work extremely closely with this counterparty and very much hope we can agree full licensing terms in the near future. "

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Hans Pauli, CFO	via Citigate Dewe Rogerson
Matrix Corporate Capital LLP	Stephen Mischler Nick Stone Edmund Glover	[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 100% owned subsidiary, Titan Wood Limited, which has manufacturing operations in Arnhem, the Netherlands, a European office in London and an Americas office in Dallas, Texas. Accsys Technologies' operations comprise three principal business units: (i) the Accoya^® wood production facility located in Arnhem, The Netherlands; (ii) technology development, focused on a programme of continuous improvements to the process engineering and operating protocols for the acetylation of wood which are currently under development and the development of technology for the acetylation of wood fibre; and (iii) the licensing of technology for the production of Accoya^® wood  and Tricoya^® wood elements across the globe.

Accoya^® Wood (www.accoya.info) is produced by using a proprietary, non-toxic process that effectively converts sustainably grown softwoods and non-durable hardwoods into what is best described as a "high technology wood" via acetylation. 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 woods, its colour does not degrade when exposed to sunlight. Moreover, the Accoya^® wood production process does not compromise the wood's strength or machinability. The combination of UV resistance, dimensional stability, increased coatings life, durability and retained strength means that Accoya^® wood offers a wealth of new opportunities to architects, designers and specifiers. Leading applications include external doors and windows, shutters/shading, siding and cladding, decking, outdoor furniture/equipment and glulam beams for structural use. 

Tricoya^® Wood Elements (www.tricoya.com) is Accsys Technologies' proprietary technology for the acetylation of wood fibres, 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 which 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.

Wood Acetylation is a process, which increases the amount of 'acetyl' molecules in wood, thereby changing its physical properties. The environmentally responsible process protects wood from rot by making it "inedible" to most micro-organisms and insects, 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. Acetylated wood's increased durability offers major carbon sequestration advantages, compared to other woods and man-made building materials such as steel, vinyl, and plastic.  

Wood Composites include a range of derivative wood products which are manufactured by binding together the strands, particles, fibres, or veneers of wood together with adhesives to form composite materials. These products are engineered to precise design specifications which are tested to meet national or international standards.

ACCOYA^®, TRICOYA^®, the Trimarque Device and the Elements logo  are registered trademarks owned by Titan Wood Limited and may not be used or  reproduced without written permission.

 

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