June 28th 2022
Photocat and Alumichem agrees that Photocat should take over Alumichem De-Icer and Dust reduction product known as CMA.
Photocat announce today that it has agreed with Danish Alumichem A/S from Birkerød to take over its CMA (Calcium Magnesium Acetate) business. The deal will be effective from second half of the year 2022.
CMA is known as sustainable de-icer product which have properties of being highly effective, require fewer applications, be good for pets and wildlife, reduce corrosion and additional benefits. It is a good fit to Photocat and it has been proven to reduce particles in the air with around 30%. Particles is together with NOx the 2 main problems in air quality problem in our modern cities.
The market for CMA solutions is expected to increase over the coming 10 years with a double-digit figure in the first years after launch.
For Photocat there is a season match as the photocatalytic products are products fit to be applied from spring to autumn and with the addition of CMA also the winter season is of interest.
Many customers are the same as roads and pavements are often the responsibility of city facility managements.
The purchase sum for the business will not be disclosed. It is expected that yearly turnover in Photocat will from 1st January 2023 increase with 3 mDKK up to 6 mDKK when launch plan is fully implemented.
CEO Michael Humle, comments "I am pleased to have entered into partnership with Alumichem. We share many of the same values and can benefit from co-operating with each other. Further I am proud that Alumichem trust Photocat as new parents for their business of CMA."
CEO Jens Husted Kjær says: “We truly believe Photocat with their business model and focus on air cleaning will have benefit of our solutions which has have enjoyed a unique market position since we started producing CMA to protect us from dust and ice. Further a solution which is marked with the Nordic Eco label Swan fits well into Photocat portfolio”.
The WHO has recently made it clear that the air quality thresholds must be lowered to save more lives and provide more quality of life to the inhabitants of our modern world. Photocat provides technology that reduces NOx levels in cities like Copenhagen, Madrid and Berlin by up to 30%. Now also solutions that can reduce Dust particles in cities.
If you have questions to this announcement, please contact:
Michael Humle, CEO: michael@photocat.net, +45 2210 2523
Pernille F. Andersen, IR: pfa@photocat.net, +45 3093 1887
Photocat A/S is obliged to publicize this information in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at CET 15:30 on June 28th 2022.
About Photocat
Photocat manufactures patented coating materials for both outdoor and indoor applications with the effect to degrade NOx and VOC´s when exposed to light. Both NOx and VOC’s are severely damaging to human health. Photocat’s patented technology is a very efficient and an economically viable alternative to many of the traditional technologies targeting NOx. Photocat’s shares are listed on Nasdaq Stockholm, First North with the ticker symbol PCAT. The company’s Certified Advisor is Mangold Fondkommission AB, 08-50301550 – ca@mangold.se.
Photocat A/S (publ) l Langebjerg 4 DK-4000 Roskilde l Tel: +45 7022 5055 l www.photocat.net
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