Amhem, the Netherlands - Accsys, the environmental science and wood technology company, is pleased to announce that it has entered into a licence option agreement with a leading MDF and Particle Board manufacturer in Latin America for the production and sale of Tricoya® based panels. Paul Clegg, Accsys' Chief Executive Officer, noted that, "this licence option is a milestone for the Company, confirming that Accsys' Tricoya® wood elements technology has global applicability and is opening up new opportunities to further penetrate the worldwide panel products market estimated to be worth more than EUR 60 billion annually."
Tricoya® based panels are ultra-high performance medium density fibreboards ('MDF') that have outstanding durability and stability even in the most extreme and challenging outdoor environments. The Tricoya®technology represents a major innovation in the wood panel industry, and is leading to a new generation of wood based panel products.
Through this agreement, Accsys has granted an option of exclusive production and distribution rights for an initial volume of approximately 60,000 metric tonnes of Tricoya® per annum. This equates to around 90,000 m3 of Tricoya® branded MDF exclusively for the Latin American market (excluding Brazil, for which rights are non-exclusive). During the two-year term of the option agreement, the option holder will carry out an extensive evaluation of Tricoya material, including market testing, production testing and the development of end-products. If this evaluation is successful, a full licence agreement may be entered into. All substantial terms of the licence agreement, including licence fees, brand rights, and mutual obligations of the parties have been agreed.
Mr Clegg further noted that "this Agreement represents a further important step forward for our Company, confirming the significant growth potential that the Tricoya® technology adds to our existing wood modification technology platform. With the recent successful launch of Medite Tricoya® there has been burgeoning interest from potential licensees around the world. Our technology enables MDF to be used in challenging exterior applications, creating completely new market opportunities for manufacturers operating in the 293 million m3 global wood based panel sector. It is already clear that Tricoya® based MDF will compete with many higher cost, non-renewable construction materials currently used for exterior and wet environment applications. We are optimistic that the pipeline we are developing will bring additional value to Accsys' shareholders in the coming years."
In addition to the licence option agreement, a distribution and marketing agreement and a tripartite evaluation and supply agreement, to which Medite Europe Limited is also signatory, have been concluded. Gerry Britchfield, Managing Director of Coillte Panel Products, Medite Europe's parent company, expressed his support for the agreement. "We have now produced more than 100,000 m2 of Medite Tricoya panels in thicknesses ranging from 4-18mm, sold in Ireland, the UK and the
Netherlands, and have enjoyed very positive feedback from our initial customers. Medite Tricoya panels, assessed by independent researchers as offering a 60 year exterior service life, have already been deployed in a wide range of applications in the construction and infrastructure markets that were previously unimaginable. These include façade cladding, exterior trim applications (mouldings and fascias, soffit panels), interior wet areas, exterior door skins, garden furniture, and even for an animal pen in a safari park. We look forward to supporting the option holder and sharing ideas about this exciting new product and seeing its success spread around the world."
Source: Accsys Technologies PLC
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