01 Dec Annual Report 2010/2011
ANNUAL REPORT 2010/2011
Aquaporin A/S announces today release of its 2010/2011 annual report covering the period October 1, 2010 to September 30, 2011. Key achievements are:
- During the year the Aquaporin Inside™ technology was matured for first industrial tests which were successfully conducted at NASA, USA.
- Aquaporin now focuses all resources towards the preparation for market introduction of the first commercial Aquaporin Inside™ membrane in 2013.
- Aquaporin is now approved as supplier to NASA in the USA and has already sold its first test membranes to NASA. This is Aquaporin’s first product sales.
- Aquaporin entered into a strategic partnership with German Industrial Group Membrana GmbH, the world’s largest producer of microporous membranes for medical applications such as dialysis, oxygenation, and plasma separation. Furthermore, Membrana is a leading supplier of membrane products to the semiconductor, power, pharmaceutical, food and beverage, and photographic markets. Finally, Aquaporin obtained co- financing from the Business Innovation Fund for the development work with Membrana.
- Aquaporin’s collaboration with leading institutes in Singapore supported by the Singaporean state continued to develop very satisfactorily. The activities in Singapore are expected to be increased in 2012.
- Aquaporin consolidated its position as world leading in the development of biomimetic membranes for water purification with new approvals of important patent families
Year 2010/11 in outline
Quantum leap for the Aquaporin Inside™ technology
The Aquaporin Inside™ technology was pursued satisfactorily throughout the year and the technology was prepared for industrial field tests. “We are thrilled to have proven the huge market potential of our revolutionary technology in real field tests”, says CEO of Aquaporin Peter Holme Jensen. “Bringing the technology out of our lab and completing a successful field test in cooperation with a future customer such as NASA is a very significant milestone in Aquaporin’s development”. In the coming fiscal year the development of the Aquaporin Inside™ technology will be focused around upscaling and product maturation.
In order to secure the optimal channels for future markets of the Aquaporin Inside™ technology, Aquaporin entered into a strategic partnership agreement with Membrana GmhH. The cooperation with Membrana GmbH, part of the Polypore Inc. Group, further consolidated Aquaporin’s position as market leader within biomimetic membrane development and paves the way for market introduction in 2013. This cooperation is supported financially over the coming two fiscal years by the Business Innovation Fund.
Establishment of Singapore subsidiary
The subsidiary Aquaporin Asia Pte. Ltd. has been established in Singapore. The foundation for Aquaporin Asia was created on the basis of the collaboration with Singapore Membrane Technology Center, Nanyang Technical University, Singapore and DHI Singapore. Aquaporin Asia is expected to become an important factor in the initiated internationalisation of the company.
Strong patent and trademark position
The patent situation in Aquaporin A/S continues to develop very positively with the approval of additional patents such that Aquaporin A/S now owns 16 issued patents worldwide. Furthermore, the company has applied for trademark protection of the trademark Aquaporin Inside™ which will strengthen the company’s international marketing value even further.
This very positive development has consolidated the company’s position as world leading in the field of biomimetic membranes for water purification – and further strengthened its strong IP situation in the field.
CEO Peter Holme Jensen says:”The Aquaporin Management group is very proud of the progress our Aquaporin Inside™ technology has gone through over the past year. With this we have the ideal foundation for completing and commercialising our unique and patented technology representing a significant global market potential”.
In 2010/2011 Aquaporin realised a loss (operating profit) of 4.0 million dkr (2009/2010: 3.5 mio. dkr) as predicted at the beginning of the year. The company’s capital base was strengthened through the supply of capital from its major shareholder and the company has received financial commitment from the same for the entire 2011/2012.
Aquaporin A/S is a 78% owned subsidiary of the M. Goldschmidt Holding Group.
For further information:
CEO Peter Holme Jensen, phone +45 82 30 30 82.