Launch of HeiQ Viroblock Permanent

RNS Number : 2167N

HeiQ PLC

28 January 2021

 

This article is not intended to be distributed in the USA.

28 January 2021

HeiQ Plc

("HeiQ" or "the Company")

Launch of permanent antiviral textile technology, HeiQ Viroblock Permanent

HeiQ (LSE:HEIQ), an established global brand in materials and textile innovation which operates in high-growth markets, is pleased to announce the launch of HeiQ Viroblock Permanent, a new innovation under the HeiQ Viroblock technology platform. HeiQ Viroblock Permanent is being used exclusively on Meryl® Skinlife Force, a new sustainable, antimicrobial and durable premium fabric.

Meryl® Skinlife Force has been developed in partnership with Nylstar SL, a pioneer in hydrogen technology in high-tech yarn production, and a long term customer of HeiQ.  HeiQ supplies a blend of manufactured raw materials for the fabrication of Meryl® Skinlife Force powered by HeiQ Viroblock Permanent, and will share a percentage of the net sales of this fabric.   This agreement is in line with the Company's strategy to grow its high margin royalty and licensing business and increase its share of the $10 billion antimicrobial fabric industry. Part of the royalty earned will be reinvested to promote the HeiQ Viroblock technology platform to drive its ongoing success and brand equity.

While the Company's current HeiQ Viroblock offering is achieved by chemical treatment to a finished fabric, HeiQ Viroblock Permanent is embedded inside the fiber, meaning that the effect lasts for at least 100 washes, instead of the current 30 (which is already market leading).  This opens up new markets to HeiQ due to its suitability for use in medical environments with high hygienic and sanitary requirements. It is also 100% recyclable, putting HeiQ and Nylstar at the forefront of circular economy.

HeiQ co-founder and CEO Carlo Centonze said:

"The launch of HeiQ Viroblock Permanent on this premium, sustainable fabric gives us further access to the $10 billion antimicrobial fabric market and adds a new high margin royalty stream to our business. The joint promotion with our long-term partner Nylstar will allow us to reach a broader customer base. Developed and launched in just six months, this latest launch is testament to HeiQ's rapid innovation capabilities which have enabled us to successfully build a reputation as a leader in textile treatment. We continue to experience strong demand for our Swiss Technology Award-winning technology and this latest partnership represents the first of many new applications in our pipeline."

Alfonso Cirera, Executive Chairman of Nylstar, said:

" Meryl® Skinlife Force powered by HeiQ Viroblock Permanent is fabricated to meet the most exacting requirements on performance and sustainability of consumers in today's day and age."

For further information, please contact:

HeiQ Plc Carlo Centonze (CEO)	[phone]
Arlington Group Asset Management Limited (Financial Advisor and Joint Broker) Charles Cannon Brookes	[phone]
Cenkos Securities plc (Joint Broker) Stephen Keys / Callum Davidson / Michael Johnson	[phone]
SEC Newgate (Media Enquiries) Elisabeth Cowell / Robin Tozer / Megan Kovach	[phone] HeiQ@s ecnewgate .co.uk

About HeiQ

HeiQ is a pioneer and at the forefront of global technology in the $10 billion antimicrobial fabrics and $24 billion textile chemicals market. With the focus on materials and textile innovation, HeiQ has created some of the most effective, durable and high-performance technologies and textile effects in the market today, which cool, warm, dry, repel, purify, and destroy viruses. Since 2005, HeiQ has developed over 200 technologies in partnership with 300 major brands.

HeiQ is a high intellectual capital company which has successfully built up a reputation in textile technologies, having won multiple awards and innovating with leading eco-conscious brands such as Patagonia.

Led by an experienced management team, HeiQ rapidly researches new solutions for partners, quickly delivers scaled up manufacturing from its sites across the world and helps partners market the product to end consumers - aiming for lab to consumer in months.

HeiQ aims to deliver growth for its shareholders through a combination of increased sales of its core products and by entering additional lucrative markets through disruptive innovations.

About Nylstar

Since 1923, Nylstar is developing premium yarns under the brand Meryl®, which are renowned worldwide in fashion for its exceptional touch, performance and circular economy solutions.

Nylstar's Hydrogen technology provides an extraordinary tenacity during the spinning process of the high quality Meryl® yarns with its strong hydrogen cohesion. This technology avoids the microplastic release and gives long durability to the garments. Nylstar's Hydrogen technology allows creation of 100% post-consumer recyclable garments thanks to the natural stretch that completely avoids the use of elastane. 

The Nylstar's continuous innovation program is to permanently engineer performance and functionality in Meryl® yarns in order to reduce use of water, energy and chemical use to move forward to a complete circular economy.

 

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