ASX listed Nanollose makes strategic investment in Celluair
Innovyz is pleased to announce that ASX listed cellulose technology company, Nanollose (NC6.ASX), has made a strategic investment into CelluAir Pty Ltd., acquiring a 20% stake in the company as part of seed round of investment.
CelluAir was formed in partnership with Queensland University of Technology (QUT) to commercialise a cellulose technology from that university.
The CelluAir technology allows nano-channels to be created in cellulose layers. This cellulose can be used to form a filtration layer in surgical masks, other face masks and filtration systems. It has been tested by QUT and found to be a more effective filter and more breathable that polypropylene filter layers providing better protection and being less fatiguing than current technology.
The investment from the seed round will be used to prove up the scaling of the technology using off-the-shelf commercial equipment as well as to begin discussions with potential sales partners and distribution channels in Australia and internationally.
The investment round was co-ordinated by two Innovyz partners, Melbourne and Sydney based stockbroking firm, PAC Partners and Sydney based Wentworth Securities.
“Nanollose are a leader in the creation of tree-free cellulose with their Nullarbor Fibres and Fabric. They have significant technical and market expertise and we are excited by the opportunity to work with them into the future.” Said Innovyz General Manager, Tom Kenyon
“QUT have developed a breakthrough technology and Innovyz is proud to be working with them to bring it to market.”
“QUT are an excellent university with international recognition of their research. They have a strong commitment to commercialisation of their research and are excellent to deal with.”
QUT Executive Director of Industry Engagement, Dr. Erin Rayment, said: “ QUT is delighted to see this investment from ASX-listed company Nanollose (NC6) so soon after the launch of CelluAir. It recognises the value of CelluAir’s biodegradable nano-filter technology and will help to accelerate its nano-cellulose product development.”
“We look forward to working with Nanollose, Innovyz, PAC Partners and Wentworth into the future to rapidly grow and scale CelluAir in the next 12 months.”
PAC and Wentworth were responsible for raising the initial investment used to create CelluAir.
“Both PAC and Wentworth have a far-reaching understanding of industrial technology and a willingness to engage with companies at a very early stage. We’ve developed an excellent partnership with them both and look forward to bringing more Australian research to market over the next few years.” said Kenyon.
Innovyz is a commercialisation company that specialises in the commercialisation of Industrial research from universities and other research institutions. Innovyz has worked on over 80 Innovations since 2009, alum companies have raised more than $125m, 3 alum companies are listed on the ASX – TTT, KTG, 3DA and Innovyz alum have a collective value of around $400m.
Further enquiries and comment:
Innovyz: Tom Kenyon 0439 977 221
CelluAir: Andy Roberts 0417 080 081