Quarterly Activities Report
Perth, April 29, 2022 AEST (ABN Newswire) - Nanollose Limited (
ASX:NC6) (N0L:FRA) a leading bio-materials company, focused on commercialising scalable technology to create fibres and fabrics with minimal environmental impact, is pleased to provide shareholders with an overview of its activities for the period ended 31 March 2022 ("Quarter", "Reporting Period")
Operational Highlights:
- First pilot spin of Nanollose's Nullarbor-20(TM) forest-friendly lyocell fibre completed - 250kg of fibre produced
- Pilot spin undertaken with strategic partner and leading global rayon manufacturer, Birla Cellulose
- Discussions with a number of potential partners are well progressed
- Collaboration agreement signed with leading sustainable denim manufacturer, Orta
- First 100% Nullarbor(TM) lyocell garment, designed by world renowned Australian fashion designer, nearing completion and to be revealed this Quarter
Outlook & Key Objectives:
- First pilot spin and collaboration agreement expected to be the catalyst and reference point for further inbound enquiries and uptake from other potential partners
- Signing of additional agreements with leading global brands in the fashion and textile ndustry anticipated shortly
- Supplying initial quantities of fibre, yarns, and textiles from the pilot spin to selected partners
Commenting on the Quarter, Nanollose Executive Chairman, Dr Wayne Best, said: " With proof of concept at scale now established with our partner Birla Cellulose, the Company is in a great position to continue to host encouraging discussions with a number of notable potential partners in the apparel and fashion sector. The availability of Nullarbor-20 fibre has already enabled us to secure an agreement with sustainable denim manufacturer, Orta, and discussions with a number of additional potential collaborators are expected to be finalised imminently. I'm also encouraged by our recent work on vegan leather which complements but is independent of our Nullarbor fibre technology. I look forward to updating shareholders with further exciting developments in both these areas in the near future."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/904X6703
About Nanollose Limited
Nanollose Limited (ASX:NC6) is an innovative Australian company that uses a low cost and eco-friendly fermentation process to grow fibres that could become a sustainable alternative to conventional plant-derived cellulose fibres. The Company's process, which uses streams from various large-scale industries like sugar, wine and food, has the ability to produce 'Plant-Free' Cellulose. Cellulose is the hidden building block polymer most consumers know nothing about, but forms a huge part of items used in their everyday life such as clothing, paper and hygiene products.
| ||
|
