I-Tech receives largest supply order to date from Chugoku Marine Paints worth 57MSEK (approx 6MUSD)

I-Tech receives largest supply order to date from Chugoku Marine Paints worth 57MSEK (approx 6MUSD)

I-Tech AB (publ) (ticker: ITECH) has received a new order amounting to 57MSEK to supply its product Selektope® to Chugoku Marine Paints (CMP).

The supply order provides confirmation of increasing demand for I-Tech’s barnacle-repellent active agent Selektope® within the range of marine antifouling products offered by CMP. The Selektope® supplied to CMP will be used in all major key markets in the shipping industry targeting both new building and dry-docking demands. The order is expected to be delivered in 2020.

Since their launch in 2016, the uptake of CMP’s Selektope®-containing marine coatings for ocean going vessels – SEAFLO NEO CF PREMIUM and SEA GRANDPRIX 880HS PLUS – has increased considerably on a global scale.

Recently, CMP launched a new antifouling coating containing Selektope®. Developed for initial use in the Japanese domestic market by coastal vessels, SEA PREMIER 3000 PLUS is the eighth antifouling coating that contains Selektope® to join CMP’s portfolio of antifouling coating products.

“CMP has continuously increased the integration of Selektope® in to its products and found multiple successful combinations with their own technology. The results have, during several years, proven its high level of performance and we are very satisfied that the market acceptance has resulted in this record order received by I-Tech,” says Philip Chaabane, I-Tech CEO. 

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