Quarterly Activities Report
Perth, Oct 31, 2022 AEST (ABN Newswire) - Nanollose Limited (
ASX:NC6) (N0L:FRA) a leading bio-materials company, focused on commercialising scalable technology to create fibres and fabrics with minimal environmental impact, is pleased to provide shareholders with an overview of its activities for the period ended 30 September 2022 ("quarter", "reporting period").
Operational highlights:
- Nullarbor-20(TM) fibre from the first pilot spin delivered to Orta, Paradise Textiles and Inditex and successfully converted into a variety of yarns
- Nullarbor-20(TM) yarns were then converted into a variety of fabrics - highlighting versatility of the Company's product across its partner base
- Testing conducted on fabrics to date confirms the high quality of Nullarbor-20 fibres and fabrics
- The Collaboration Agreement with Codi Group has been extended for a further 3 years
Outlook and key objectives:
- Ongoing distribution of samples of yarns and fabrics to partners for appraisal and test garment production
- Advance second pilot spin of Nullarbor fibres at increased scale and microbial cellulose content - expected December 2022
- Continue to progress alternatives to leather based on microbial cellulose in collaboration with von Holzhausen and other potential partners
- Transition collaboration agreements to commercial supply agreements
Management commentary:
Executive Chairman Dr Wayne Best said: "Throughout the quarter, a considerable amount of work has gone into the production of yarns and fabrics from the Company's first batch of Nullarbor-20 fibre across our partner base and we are delighted with the results.
"Initial reports from our collaborators indicate that both the fibre and resulting fabric are of a high quality. Consequently, our partners are keen to continue the developments and secure additional fibre from the second and subsequent pilot production runs.
"This all bodes well for future commercial supply agreements. I look forward to updating shareholders with more details of our fabric and garment productions in the coming weeks."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/1O9U65BY
About Nanollose Limited
Nanollose Limited (ASX:NC6) is an innovative Australian company that uses a low cost and eco-friendly fermentation process to grow fibres that could become a sustainable alternative to conventional plant-derived cellulose fibres. The Company's process, which uses streams from various large-scale industries like sugar, wine and food, has the ability to produce 'Plant-Free' Cellulose. Cellulose is the hidden building block polymer most consumers know nothing about, but forms a huge part of items used in their everyday life such as clothing, paper and hygiene products.
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