OrganoClick has been granted Vinnova-funding of SEK 1.3 million for further development of its
OrganoClick AB (publ) has signed a distribution agreement for its textile functional additives for the Chinese market. Under the agreement, OrganoClick's durable water repellent (DWR) that is used for the production of OrganoTex®, will be sold and marketed in China by the distributor Shanghai Amazingtex Trading Co, Ltd which has a broad customer network, in particular in the Shanghai-region.
OrganoClick has since last spring focused on setting up collaborations with local distributors on the Chinese, Taiwanese, South Korean and Japanese market. Approximately 77 % of the worlds production of functional textiles is made in these countries. China is the dominant player with more than 15.000 textile factories.
The Shanghai region is one of the most important textile regions in China with approximate 3.000 textile factories. The non-exclusive distribution agreement that has been signed with Shanghai Amazingtex Trading Co, Ltd is for distribution in China but with focus on the Shanghai region. Amazingtex will sell and market OrganoClick's products and distribute the products to the textile factories from its own stock and warehouse in Shanghai. They will also provide technical support to the factories.
"This is a first important step for us in our ambition to get a good geographical distribution of our textile products and technologies on the Asian textile market. Currently, we supply two factories directly from Sweden which makes the transport cost high and the delivery time long. In order to get a high market penetration fast we need to work with several local distribution partners with strong sale forces and good customer networks. The cooperation that now starts with Shanghai Amazingtex Trading Co, Ltd is a good first step for us in Asia. We will now continue our work to set up distribution networks in Taiwan, South Korea and Japan", says Mårten Hellberg, CEO OrganoClick.
For more information, please contact; Mårten Hellberg, CEO OrganoClick
Phone: +46 8 684 001 10
OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the water repellent fabric treatment OrganoTex®, the flame and rot-resistant timber OrganoWood® and biocomposite materials. 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 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 is Pareto Securities AB.