Nanollose (ASX:NC6)

Operational Highlights:

  • Nanollose continued to work with Birla Cellulose to commercialise its Tree-Free, high tenacity nullarbor™ lyocell that is finer than silk and stronger than conventional lyocell.

  • First shipment of refined Microbial Cellulose (“MC”) received by Birla Cellulose in India, with further processing and testing continuing prior to the MC being blended with other cellulosic feedstock and spun into lyocell fibre at pilot scale.

  • Appointment of Boon Tan as Operations & Quality Manager to oversee the Company’s procurement and processing of MC from its partners in China and Indonesia, and its delivery to Birla Cellulose for fibre production.

  • The Company continued to work closely with its fashion consultant, Carla Woidt, to shortlist the number of potential customers and partners that have expressed an interest in obtaining material from Nanollose, with the Company now focused on a select group, with the aim of formalising a number of agreements.

  • With the Company’s Tree-Free lyocell now progressing through the development phase, Nanollose has appointed a Research Scientist to add to the Company’s product pipeline by reactivating several opportunities for alternate applications of MC, including vegan leathers – a rapidly growing market.

  • Nanollose is part of a successful consortium attracting $5m in funding from the Australian Research Council, providing access to world-leading materials science, and fibre & textile expertise.

  • CelluAir continued to advance their Advanced Filtration Technology (AFT), with further formulation optimisation and testing of Nanollose’s MC being undertaken and discussions continuing with interested parties.

Corporate Highlights:

  • Oversubscribed placement to institutional and sophisticated investors raised $2.95m, at an issue price of $0.10 per share, placing Nanollose in a strong position to further advance the development and commercialisation of its nullarbor™ lyocell fibre.

  • Nanollose continued to practise diligent capital management, with a strong cash at bank balance of $3 million at 30 June 2021.

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