Quarterly Activities Report
Perth, July 27, 2022 AEST (ABN Newswire) - Nanollose Limited (
ASX:NC6) (N0L:FRA) a leading biomaterials 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 30 June 2022 ("quarter", "reporting period").
Operational highlights:
- Multiple collaboration agreements secured for the supply of fibre, yarn, and textile samples from initial pilot spin:
o Agreement with leading sustainable denim manufacturer, Orta, to develop denim materials incorporating Nanollose's Nullarbor(TM) fibres
o Agreement to develop next generation vegan leather from microbial cellulose with materials innovation company von Holzhausen
o Agreement with Paradise Textiles, the materials science hub of the Alpine Group, for the development and manufacture of Nullarbor(TM) yarns and textiles
- Memorandum of Understanding signed with one of the world's largest fashion retailers, Industria de Diseno Textil, S.A. ('INDITEX') - owner of multiple world-renowned brands including Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Zara Home
- The first garment made from Nullarbor(TM) Tree-Free lyocell was designed by Australian fashion designer Lee Mathews and launched at the Copenhagen Global Fashion Summit - the foremost international forum for sustainability in fashion
- Nanollose receives R&D tax rebate of $225,000
Management commentary:
Executive Chairman Dr Wayne Best said: "Nanollose has made significant progress on its business development initiatives this quarter, capitalising on the strong momentum gained from the previous period resulting from the successful first pilot scale spin of Nullarbor-20 lyocell fibre. This quarter we have been in negotiation with and finalised collaborative agreements with several leaders in sustainable fashion to test and assess Nullarbor fibres for use in their production processes. These agreements are in line with our segment strategy, which will provide us with additional avenues for growth over the coming months.
"We have continued work with our strategic partner Birla Cellulose and unveiled the first garment to be made using 100% Tree-Free Nullarbor lyocell fibre at the leading international forum for sustainability in fashion, the Copenhagen Global Fashion Summit. As we continue to gain an increased level of interest and host discussions with additional potential partners, I look forward to providing updates to our shareholders moving into the next quarter."
Operational overview:
The quarter included a number of major milestones for the Company such as multiple collaboration agreements, including with one of the world's largest fashion retailers, as well as the very first fabric samples and garment launch at the widely respected global sustainability in fashion industry event, the Copenhagen Global Fashion Summit.
The Company's Nullarbor(TM) lyocell fibres have continued to gain significant global traction with world-renowned fashion brands beginning to witness Nanollose's innovative products and processes providing a significant potential solution to some of the critical environmental issues facing the industry.
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/55AVIWS0
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.
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