OrganoClick receives SEK 3.7 million in funding from strategic innovation program Bioinnovation for development of biobased binders for nonwoven

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OrganoClick receives SEK 3.7 million in funding from strategic innovation program Bioinnovation for development of biobased binders for nonwoven

OrganoClick has been granted funding of SEK 3.7 million for development of its biobased binders for nonwoven used in hygiene and medical applications. The project will be executed in a Swedish-Finnish consortium including 3 players spanning the whole value chain from binder production (OrganoClick), a nonwoven producer and a product owner which manufactures hygiene and medical products for the healthcare sector. The project will be co-financed by the Swedish strategic innovation program BioInnovation – a joint program by Vinnova, Formas and the Swedish Energy Agency together with Business Finland for the Finnish partners.

The purpose with the project is to replace the plastic binders that are currently in use in the nonwoven material, with OrganoClick’s biobased and biodegradable binders. During the project, the binders will be adapted and optimized for different hygiene and medical applications. Therafter, full scale production trials of nonwoven will be performed, followed by production of hygiene and medical applications. The goal is to have products ready for market launch in the end of the project.

”This Bioinnovation-financed project gives us the opportunity to accelerate the development of our biobased and biodegradable binders for nonwoven used in advanced hygiene and medical applications. Our partners in the consortium give us a fantastic opportunity to get deep knowledge about the whole value chain, and at the same time secure a fast market entry after the project”, says Mårten Hellberg, CEO OrganoClick.

The project will be executed during 2.5 years with start in December 2019. The total project budget for all partners is SEK 18 million. Bioinnovation and Business Finland joíntly finances 50 % of the amount (~SEK 9 million) of which OrganoClick has been granted SEK 3.7 million.  

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For more information, please contact:

Mårten Hellberg, CEO

0707 - 16 48 90, marten.hellberg@organoclick.com

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About OrganoClick

OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North Growth Market. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the durable water repellent technology for textiles OrganoTex®, the biocomposite material OrganoComp®, surface treatment and maintenance products for villa and property owners under the brand BIOkleen®, biobased binder under the trade name OC-BioBinder™ and the flame and rot-resistant timber OrganoWood® (through the joint-venture OrganoWood AB). OrganoClick was founded in 2006 as a commercial spin-off company based on research performed at Stockholm University and the Swedish University of Agricultural Sciences within environmentally friendly fiber chemistry. OrganoClick has won a number of prizes, such as "Sweden's Most Promising Start -up" and "Sweden's Best Environmental Innovation", and has also received a number of awards, such as the WWF "Climate Solver" award, listed as a SUSTAINIA100 company and has also appeared for two years on the Affärsvärldens and NyTekniks list of Sweden's top 33 hottest technology companies. OrganoClick has its head office, production and R&D located in Täby, north of Stockholm. OrganoClick's Certified Adviser on Nasdaq First North Growth Market is Mangold Fondkommission AB, tel: +46 (0)8 503 01 551, email: ca@mangold.se.

The information in this press release contains information that OrganoClick AB (publ) is obliged to release according to the EU's market regulation law number 596/2014. The information was published, of the contact person above, 22 November 2019 at 8:30.

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