Nanollose Limited, a leading biotechnology company commercialising scalable technology to create fibres and fabrics with minimal environmental impact, is pleased to announce that the Company has made a $200,000 strategic investment to acquire a 20 per cent holding in CelluAir Pty Ltd, an Australian company developing an advanced filtration technology (AFT) based on nanocellulose.
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Nanollose has made a $200,000 strategic investment to acquire a 20% holding in CelluAir, an Australian company developing an Advanced Filtration Technology (“AFT”) based on nanocellulose.
Developed by Queensland University of Technology, the AFT has been developed and validated over a number of years, culminating in the filing of a patent application in July 2020.
Capital from the Investment will be used to scale the AFT using off-the-shelf commercial equipment, in addition to commencing discussions with potential sales partners and distribution channels in Australia and internationally.
The Investment potentially enables Nanollose to enter the high growth personal protective equipment market, within which the face mask sector alone has reached US$11b in 2020, with strong growth forecast1
The AFT and CelluAir are being incubated by Innovyz, the commercialisation specialists responsible for developing and listing of Titomic Limited and Amaero International Limited.
Strong working synergies exist between the companies, with the opportunity for Nanollose to supply microbial cellulose and expertise in nanocellulose to CelluAir, assisting in the commercialisation of the technology.
The commercialisation of Nanollose’s Tree-Free fibres remains the Company’s first priority.
“We are pleased to have invested in a seed capital raise for CelluAir, as strong synergies exist between the two companies, and we believe in the potential of nanocellulose across multiple industries and applications. This investment allows Nanollose to contribute to, and benefit from, CelluAir’s technology without diverting significant resources from the Company’s near-term objective of commercialising its TreeFree nullarborTM fibre,” Nanollose’s executive chairman, Dr Wayne Best, commented.
“QUT is pleased to have received this strategic investment from Nanollose – an ASX listed company developing treefree cellulose, hence it is a natural fit with QUT spinout, CelluAir, which also works in the nanocellulose area. There are several opportunities for the companies to work together and we look forward to working with Nanollose and Innovyz to rapidly grow and scale CelluAir in the next 12 months,” QUT executive director of industry engagement, Erin Rayment, said.