Collaboration for Innovation, Growth and a Scalable Production Set-up in Italy.
Parx Materials NV and GCP Technology AS: Collaboration for Innovation, Growth and a Scalable Production Set-up in Italy.
Rotterdam, The Netherlands, December 16, 2024 – Parx Materials NV (Euronext Access: NL0012650535), an innovator delivering non-biocidal alternatives to traditional antimicrobial and fouling-prevention methods, is pleased to announce a significant step in its growth strategy. The company has acquired the first machine for its new production set-up in Italy, marking the beginning of a dedicated effort to scale up its production capacity and meet growing market interest.
This milestone is the first in a series of investments in equipment and machinery, aimed at establishing a robust and economical production process.
GCP Technology: A New Era for Parx Materials
It has now been about six months since GCP Technology AS, a Norwegian technology and industrial company, acquired nearly 57% of the shares in Parx Materials. Following the acquisition, GCP Technology has implemented several strategic measures to position the company for profitable growth. Despite a unique technology that can be applied across multiple markets, industries, and situations, Parx Materials has not had the necessary resources to succeed internationally on its own.
“It is important for GCP Technology, as the majority shareholder, to assist with strategic leadership,” said Mr. Kjell Wiik, Chairman of GCP Technology AS, and continues, “Developing Parx Materials requires both expertise and capital in order to scale the business, streamline processes, and meet customer needs.”
Building for the Future
The installation of new production equipment marks a transformative phase for Parx Materials, as the company transitions from relying on external production capacity to taking steps toward a fully integrated, circular, and sustainable production process. This move enhances the company’s ability to serve existing markets while extending its reach into new sectors where its innovative technology can bring significant value.
“Our investment in machinery is a clear commitment to our vision of leading the way in sustainable, non-biocidal solutions that contribute to a healthier environment,” said Mr. Geir Fuhre Pettersen, chairman of the board of Parx Materials NV. “This is only the beginning. With this new set-up, we will be better positioned to control quality, scale production efficiently, and respond swiftly to market needs. Many industries are seeking compliant, long-term alternatives to the use of hazardous substances so that materials and products are clean, safe, and easier to recycle or re-purpose.”
Focus on Strategic Market Areas
Parx Materials NV continues to identify new applications and user-benefits for its proprietary and safe technology, which limits bacterial adhesion and biofilm formation, delivering superior fouling-reduction properties across various industries as an innovative alternative to the use of biocides and toxins. Together with its new majority shareholder, the company is now exploring opportunities in sectors such as aquaculture, food packaging, and consumer goods. In a short period, several large, international customers in these market areas have shown interest in our technology. The work so far has confirmed the commercial potential inherent in this innovative technology.
GCP Technology wants Parx to further develop the production process located in Italy and has established a good dialogue with local partners who have specialized expertise in this field. It should also be mentioned that GCP Technology has greatly benefited from the expertise and development work provided over time by ZincIn AS, Parx Materials’ Norwegian partner. To leverage this competence and experience, GCP Technology has taken over that business.
Looking Ahead to 2025
Parx Materials and GCP Technology now stand on the brink of a commercial breakthrough and look forward to further developing the business in 2025. As Parx Materials continues its journey of innovation and pioneering, the new production equipment will serve as a foundation for building a sustainable and scalable operation that aligns with its long-term strategic goals. The company is confident that this milestone will further enhance its position as a trusted partner for innovative, non-biocidal solutions for preventing microbial adhesion and fouling.
About Parx Materials NV and GCP Technology AS
Parx Materials NV is a leader in the development of groundbreaking technology that prevents bacterial adhesion and limits biofilm formation, offering an effective alternative to traditional methods. Founded in 2012, the company leverages its innovative solutions to enhance the performance, durability, recyclability, and sustainability of materials used in a wide range of industries.
GCP Technology AS is a Norwegian technology and industrial group that has acquired nearly 57% of Parx Materials NV and 100% of ZincIn AS to further develop the technology and the commercial opportunities it enables.
Please find a Norwegian version of the news release below.
For media inquiries, please contact:
Michael van der Jagt, CEO
info(at)parxmaterials.com
Forward-Looking Statements
This press release contains forward-looking statements. These statements are based on the current expectations and beliefs of Parx Materials NV's management and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.