PRESS RELEASE: I-Tech AB, the Swedish developer of the bio-repellent antifouling ingredient Selektope®, has signed a significant supply agreement with one of the industry’s leading paint manufacturers representing the largest ever single order of the technology to-date.
This deal represents yet another significant milestone for Selektope®, confirming the central position of coatings containing the ingredient in the future of the marine market.
The large volume order was placed by Japanese paint manufacturer Chugoku Marine Paints (CMP) as part of a long-term supply agreement between I-Tech and CMP to support the growth of CMP’s Selektope®-containing antifouling product portfolio. The supply agreement was confirmed in response to increasing demand for CMP marine coatings that contain the unique antifouling ingredient and provides the option for CMP to further increase the order value as required.
Philip Chaabane, CEO I-Tech AB says: “This significant order for Selektope® demonstrates how I-Tech’s antifouling technology is meeting market demand for increased hard fouling prevention performance from marine coatings. For I-Tech, securing this significant supply agreement with one of the major paint manufacturers provides evidence of the major impact that our technology continues to make. With this long-term agreement in place, I-Tech can continue to focus on further improving operations and the strength of the Selektope® supply chain to ensure commercial competitiveness for our technology.”
