Last checked at 17 Mar 2009 07:00
17 March 2009 AIM: AXS
NYSE Euronext Amsterdam: AXS
Accsys Technologies PLC
Accsys Announces Tricoya™ Collaboration with Medite Europe
Accsys Technologies PLC ("Accsys" or "the Company") is pleased to announce that its wholly owned subsidiary, Titan Wood Limited ("Titan Wood"), has agreed to heads of terms with Medite Europe Limited, a leading producer of panel products. This agreement is a milestone to the potential creation of a joint development agreement between the two companies.
Medite and Titan Wood are presently exploring ways in which they can combine their expertise and know how to jointly develop an economically viable, non-toxic, and stable medium density fiberboard (MDF) panel made from acetylated wood fibers. Testing to-date has demonstrated enhanced durability and dimensional stability that is substantially differentiated from standard MDF products and will allow their use in new and exciting applications, including outdoors.
Medite is a pioneering and forward looking company with more than 25 years experience in the wood composites sector. Medite currently offers a broad range of MDF products and is keen to explore the potential to expand their product offerings through the adoption of this new fiber based technology.
Titan Wood, the only company in the world to produce acetylated wood on a commercial scale, has already proven to be a market leader and currently produces Accoya® solid wood using the company's own non-toxic, environmentally responsible, proprietary technology. The Company is now seeking to extend its proprietary technology to the production of wood composite ingredients. Working with production partners, it is the Company's goal to license their revolutionary production technology, branded as TricoyaTM, for new applications in wood based composites fabricated from acetylated lignocellulosic biomass materials.
Finlay Morrison, Chief Executive Officer of Accsys Technologies, added, "As a step-change product, Accoya® has demonstrated that it is possible for wood to be both durable and environmentally sound. Tricoya™ technology is a logical next phase for the company. It will offer manufacturers the opportunity to develop high value, high performance, innovative wood composite products that can be used with absolute confidence in new and challenging applications. We are delighted to be collaborating with Medite, an industry leader, to work together to produce the most durable, stable and sustainable composite panels on the market."
-Ends-
For further information, please contact:
| Accsys Technologies PLC | William Paterson-Brown, Executive Chairman | +44 20 8150 8835 |
| Collins Stewart Europe Limited | Hugh Field | +44 20 7523 8000 |
| Parkgreen Communications
| Leah Kramer/ Paul McManus leah.kramer@parkgreenmedia.com paul.mcmanus@parkgreenmedia.com | +44 20 7933 8780 +44 7793 244 055 +44 7980 541 893 |
| Citigate First Financial B.V. | Wouter van de Putte / Laurens Goverse | + 31 20 575 4080 |
Notes to Editors:
Medite Europe Ltd (www.medite-europe.com) is highly regarded globally in the panel market as a ground-breaking and forward looking company. Medite, based in Clonmel, Ireland has an MDF mill capacity of approximately 450K m3 per annum. Medite is a key part of the Panel Products division of parent company Coillte, which is wholly-owned by the Irish government. Owning nearly 450 thousand hectares of FSC certified managed forest land; Coillte's 2007 turnover was more than €300 million with a profit of €40 million. Coillte operates three divisions: Forest, Enterprise, and Panel Products. More information can be found at www.coillte.ie and www.medite-europe.com.
Accsys Technologies PLC (www.accsysplc.com) is an environmental science and technology company whose primary focus is on the production of Accoya® wood and technology licensing via its 100% owned subsidiary, Titan Wood Limited (www.titanwood.com), which has manufacturing operations in Arnhem, the Netherlands, a European office in London and an Americas office in Dallas, Texas. Accsys' operations comprise three principal business units: (i) the Accoya® wood production facility located in Arnhem, The Netherlands; (ii) technology development, focused on a programme of continuous improvements to the process engineering and operating protocols for the acetylation of wood which are currently under development and the development of technology for the acetylation of wood fibre; and (iii) the licensing of technology for the production of Accoya® wood and Tricoya™ wood elements across the globe.
Tricoya™ Wood Elements (www.tricoya.com) is Titan Wood's proprietary technology for the acetylatation of wood fibers, chips, and particles for use in the fabrication of wood based composites, including panel products. These composites demonstrate enhanced durability and dimensional stability which allow them to be used in a variety of applications which were once limited to solid wood or man-made products. Tricoya™ Wood Elements is lauded as the first major innovation in the wood composites industry in more than 30 years.
Accoya® Wood (www.accoya.info) is produced by using a patents-pending non-toxic process that effectively converts sustainably grown softwoods and non-durable hardwoods into what is best described as a "new wood species" via acetylation. Distinguished by its durability, dimensional stability and, perhaps most importantly of all, its reliability (in terms of consistency of both supply and quality), Accoya® wood is particularly suited to exterior applications where performance and appearance are valued. Unlike most woods, its colour does not degrade when exposed to sunlight. Moreover, the Accoya® wood production process does not compromise the wood's strength or machinability. The combination of UV resistance, dimensional stability, increased coatings life, durability and retained strength means that Accoya® wood offers a wealth of new opportunities to architects, designers and specifiers. Leading applications include external doors and windows, shutters/shading, siding and cladding, decking, outdoor furniture/equipment and glulam beams for structural use.
Wood Acetylation is a process, which increases the amount of 'acetyl' molecules in wood, thereby changing its physical properties. The environmentally responsible process protects wood from rot by making it "inedible" to most micro-organisms and insects, without - unlike conventional treatments - making it toxic. It also greatly reduces the wood's tendency to swell and shrink, making it less prone to cracking and ensuring that when painted it requires dramatically reduced maintenance. Acetylated wood's increased durability offers major carbon sequestration advantages, compared to others woods and especially typical man-made building materials.
Wood Composites include a range of derivative wood products which are manufactured by binding together the strands, particles, fibers, or veneers of wood, together with adhesives, to form composite materials. These products are engineered to precise design specifications which are tested to meet national or international standards.
ACCOYA, TRICOYA, the Trimarque Device and the Elements Logo are trademarks owned by Titan Wood Limited and
may not be used or reproduced without written permission