Nexam Chemical just released its Q2 2014, which did not include any major surprises.
Since the company is still in an early commercialisation phase, the actual numbers were less in focus. Importantly, Nexam says that the ongoing major customer projects are progressing. In early 2014, Nexam signed commercialisation agreements with BASF and Armacell. Total assets at the end of the period amounted to SEK 102.5m, with cash and cash equivalents accounting for SEK 81,3m.
Activity remains high and Nexam reports that during Q2, products were sent to several PET and PE users in Europe for evaluation. Furthermore, Nexam commenced a project with a European special nylon manufacturer. It also entered into two confidentially agreements and commenced two projects jointly with an elastomer manufacturer and with a European defence industry supplier. Another confidentialilty agreement has been entered into with a nylon producer. The HICTAC Clean Sky Project has reportedly come along well, too, and another potential customer in addition to Rolls-Royce is said to express great interest in testing the material. New results indicate that several new application areas will be opened up.
Nexam also reports that it sold NEXIMID 200 (EPA) to a new Japanese customer that has commenced commercialisation of materials for the electronics industry. During Q2, Nexam’s patent application for the unique molecule PETA has been granted in the US and the company introduced a new product: NEXIMID MHT-R, a new resin mainly intended for use in the aerospace industry but also in the industrial and transport sector.
Q3 started as positive as Q2 ended with Nexam entering into a framework cooperation agreement with IRPC with respect to modified polyolefines, such as PE and PP. The agreement fomalises frameworks for product development and commercialisation. Also, the Japan Patent Office has announced that it will grant Nexam Chemical’s patent application for nylon resin containing MEPA.
Only yesterday, Nexam announced that a patent application which was filed in the US by Japanese JNC Corp has recently become public. The application concerns manufacturing of isolation film containing amongst other things the crosslinker EPA. The usage areas include amongst other things electrical components. The patent application’s publication number is US 2014/0213722 A1. Another patent application filed in Japan by Japanese Nissan Chemical Industries has also recently become public. The application concerns manufacturing of a polyimide film containing amongst other things the crosslinkers PEPA or EPA. The usage areas include amongst other things iodide-doped films which are used in displays and this is especially suitable for flexible displays. The patent application’s publication number is WO 2014/112558 A1.
To sum things up: Nexam seems well on track to become a multi-billion company within a few years.