23 Jan Annual Report 2012/2013

Aquaporin > Uncategorized > News > Annual Report 2012/2013

ANNUAL REPORT 2012/2013

Aquaporin initiates automated industrial production

Aquaporin A/S announces today release of its 2012/2013 annual report covering the period October 1, 2012 to September 30, 2013. Key achievements are:

  • Aquaporin has successfully scaled up the production of its Aquaporin Inside™ technology to an automated roll-to-roll production
  • During the year, the Aquaporin Inside™ technology has been tested in various water treatment applications with a large number of potential future industrial customers around the world
  • Aquaporin established Aquaporin Space Alliance (ASA) in collaboration with Danish Aerospace Company
  • The subsidiary Aquaporin Asia Pte. Ltd. in Singapore initiated development activities in Singapore
  • Aquaporin consolidated its position as world leading in the development of biomimetic membranes for water purification with new approvals of important patent families in e.g. China, Canada, and Japan
  • The partnership with German Industrial Group Membrana GmbH continued to develop very satisfactorily with the achievement of all important milestones set out in the Co-Funding Agreement with the Business Innovation Fund
  • Aquaporin now focuses all resources towards preparation for market introduction of its first commercial Aquaporin Inside™ membrane by the end of 2014

Year 2012/2013 in outline

Market introduction
During the fiscal year 2012/2013, Aquaporin A/S, a subsidiary in the M. Goldschmidt Holding Group, has successfully scaled up the production of its Aquaporin Inside™ technology to an automated roll-to-roll production. The first pilot production line was delivered at the end of the fiscal year and will be commissioned during the beginning of 2013/2014.

The Aquaporin Inside™ technology has been tested in various water treatment applications with a large number of potential future industrial customers around the world. Aquaporin expects these tests to lead to the establishment of long-term customer relations as well as strategic partnership and cooperation agreements with selected global partners

Aquaporin established the joint venture Aquaporin Space Alliance (ASA) in collaboration with Danish Aerospace Company with the aim of commercialising the Aquaporin Inside™ technology for various space applications and is an example of the established business strategy, in which the technology is commercialised through agreements with selected commercial partners. Aquaporin Space Alliance expects to sign the first agreement with a world-leading space agency in 2014.

The subsidiary Aquaporin Asia Pte. Ltd. in Singapore became operational in 2013 as a first step in the internationalization of the Aquaporin Group. Activities in Singapore are focused on completing the development of Reverse Osmosis Aquaporin Inside™ membranes and building customer relations throughout Asia. The activities are led by Aquaporin in Denmark.

CEO Peter Holme Jensen says: – We invested in our first high-tech, automated production facility, which will streamline the membrane production and reduce production costs significantly. At the same time, the global protection of our Aquaporin Inside™ technology is in place. Aquaporin will be ready for market introduction of our Aquaporin Inside™ technology in the fiscal year 2013/2014, and we are already in dialogue with several potential customers.

Further strengthening of patent and trademark position
The patent situation in Aquaporin A/S continued to develop very positively with the approval of additional patents in e.g. China, Canada, and Japan. Aquaporin A/S now holds 42 issued patents worldwide. New patent families ensuring global protection of the Aquaporin Inside™ technology for decades ahead have been filed.

Strengthened technology platform
The future technological developments have been secured in a 4-year period through the establishment of the Danish National Advanced Technology Foundation platform IBISS (Industrial Biomimetic Separation and Sensing) with a total budget of 90 million dkr.

In this Danish National Advanced Technology Foundation project, Aquaporin has teamed up with market leading industry players such as DSS A/S, Arla Foods amba, and Dupont, as well as world-class academic partners from Danish universities in Copenhagen, Lyngby, and Aalborg on a technology platform which will strengthen Aquaporin’s position as a world leader in biomimetic membrane development.

Commercial ambitions
During 2013/2014 the Management will continue the overall objective of developing Aquaporin A/S from a pure R&D focused development company to an expansion-oriented, commercial company.

Chairman of the Board Søren Bjørn Hansen states: – Aquaporin is now beginning to take the shape of a global, commercial organisation rooted in R&D and cutting-edge innovation. The company still has challenges ahead, but there is no longer any doubt that the market potential for the technology is quite extraordinary, and we regularly receive expressions of interest from potential customers around the world requesting dialogue and cooperation. We expect that 2013/2014 will be ground-breaking for the commercial development of the company.

Main figures
In 2012/2013, Aquaporin realised a loss (operating profit) of 10.5 million dkr as a result of its ongoing research and development activities (2011/2012: 6.1 million dkr). Aquaporin’s equity totalled 23.5 million dkr and the capital base was strengthened through the supply of capital from its major shareholder M. Goldschmidt Holding A/S.

Overall, development in the financial year was very satisfactory.

Aquaporin has received financial commitment from M. Goldschmidt Holding A/S for the entire 2013/2014.

For further information:
CEO Peter Holme Jensen, phone +45 82 30 30 82.

Read the full press release in English here and in Danish here.