2018 Annual Report
Perth, Aug 31, 2018 AEST (ABN Newswire) - Nanollose Ltd (
ASX:NC6) provides the Company's 2018 Annual Report.
Managing Director's Letter
Nanollose is proud of the progress achieved in the 2018 financial year. The Company successfully listed on the Australian Stock Exchange, signed an MoU to secure a commercial supply of microbial cellulose, delivered two world first breakthroughs by producing a plant-free rayon fibre and fabric, and launched our products at one of the world's largest sustainable textile events.
Nanollose is an Australian technology company with a unique scalable process, which transforms PLANT-FREE microbial cellulose into eco-friendly fibres for textiles and other industrial applications. Our world first Plant-Free Rayon fibre (Nullarbor(R)) is set to become an alternative to rayon and cotton fibres, and we are initially targeting the US$500 billion textile industry with an immediate focus on the US$16 billion rayon market.
Brands, retailers and manufacturers are urgently seeking sustainable alternatives to rayon and cotton fibres, both of which cause significant environmental issues. By comparison, Nanollose does not harvest trees or plants and does not require the environmentally challenging kraft (wood pulping) process. Our technology is also easily retrofitted into current textile and clothing production methods.
Our Company's strategy for commercialisation falls under three important pillars - Supply, Process Development and Demand. During the 2018 financial year, we made significant progress across all three pillars, resulting in the most successful year in the Company's short history.
To view the full report, please visit:
http://abnnewswire.net/lnk/3E4Q4UWN
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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