I-Tech appoints Per Svensson as Sales Director

I-Tech appoints Per Svensson as Sales Director

I-Tech AB, the bio-technology company responsible for Selektope®, the barnacle repelling active agent for use in marine coatings, has appointed Per Svensson to the role of Sales Director.

In this central senior position, Mr Svensson will take full responsibility for driving top-line revenues by working to progress new customers to the antifouling product commercialization stage. He will also hold responsibility for supporting and expanding existing customer accounts within the global marine coatings industry. Per joins I-Tech AB during a period of significant expansion for the company, for which 2019 was the best year to-date financially with reported net turnover for the year increasing by 57%, compared to 2018.

Mr Svensson has joined I-Tech following great successes achieved in his previous role of Director, Global Sales & Aftermarket, Marine Solutions at Emerson Automation Solutions. He has extensive experience working globally with high-tech marine tank level gauging and automation products through various roles held within Service, Sales, Marketing and Business Unit Management. Prior to Emerson, Per worked with Saab Marine Electronics AB. He has also held several board level positions with technology companies based in Singapore, Finland and the UK. His engineering background and academic qualifications include Diplomas in Business Administration from IHM Business School and Executive Leadership at the Stockholm School of Economics.

Philip Chaabane, CEO, I-Tech AB, says: “With a proven track record from various senior commercial positions within the marine industry, Mr Svensson will play a significant role in developing new and existing commercial relationships all around the world. With 30 years of experience, Per will greatly contribute to building the commercial aspects of I-Tech to the standards of much larger companies, yet maintaining our important entrepreneurial culture. I’m convinced that his commercial acumen and well-established reputation throughout the maritime industry will expand I-Tech’s reach even further in support of our continued growth trajectory”.

Per Svensson, Sales Director, I-Tech AB, says: “With the marine industry looking to support an improved environmental agenda, I’m thrilled to be working with a company that is aiming to help owners manage the issue of hull biofouling in pursuit of greener shipping. I have been looking for an opportunity to join a well-reputed, entrepreneurial company which aims to reduce the environmental impact of the marine industry. I have found that opportunity with this position in I-Tech and I am looking forward to supporting their wider global development.”

In an industry awash with postponed events, marine clean tech companies go virtual

In an industry awash with postponed events, marine clean tech companies go virtual

Anyone working in the shipping industry will know that face-to-face meetings and networking is what we do best. As organisations worldwide increasingly turn to virtual solutions as a way of doing business, the thousands of shore-based people working in shipping still place immense value on being periodically congregated by events companies for the purpose of doing business and debating current challenges faced. But what happens when event companies can’t do that anymore?

Right now, the COVID-19 virus is creating absolute havoc for companies in the event management business. In our industry, the majority of events scheduled for March, April and May have been postponed, or those that did go ahead suffered low attendance rates. For marketing professionals in the industry, this mass postponement of events is turning into somewhat of a nightmare, the result being the bunching up of many re-scheduled events in September. Exhibition fatigue is now feared by many, although whether those postponed events will actually go ahead on their re-scheduled date is anyone’s guess.

While there’s nothing like face-to-face, honest and open dialog at industry conferences for the sharing of information and ideas, the time and financial requirements of big events, paired with the current risk of novel contagions, make virtual alternatives much more attractive.

For companies who sell a technology or a service into the shipping industry, maritime events provide the perfect platform for forging new business, prospering existing business relationships and publicly airing details about progressions, R&D activities and commercial successes that sometimes a press release or well-written magazine article cannot convey with as much punch. As such, the exploitation of virtual solutions for bringing maritime conferences to people’s desk is in great need in the industry. Not only now during the COVID-19 pandemic, but also in the future.

Swedish clean technology innovators Lean Marine Sweden AB and I-Tech AB have taken matters into their own hands following their recent participation in Informa’s Green Ship Technology (GST) Europe in Copenhagen in mid-March. This conference is normally an annual meeting point for anyone wanting to accelerate green shipping initiatives worldwide. This year, it was hit at its mid-point by the Danish COVID-19 lock down causing 90% of attendees to flee, leaving presenters to deliver their speeches to an empty room (pretty much).  

While shore-based industry personnel across the globe turn to home working with limited, or prohibited social contact, the two Gothenburg-based companies have taken to the virtual world to recreate the GST ‘vessel efficiency’ panel session experience online, bringing the conference presentations to the temporary desk of those interested in vessel efficiency. Even though the hotel bar for beers and wine post-conference won’t be a highlight, sipping coffee or tea is encouraged.

The first virtual conference session was hosted by Lean Marine and I-Tech on the topic of ‘What you can do today to enhance vessel efficiency’ on Thursday March 26 at 08:30 GMT/09.30 CET/16.30SGT.

The interactive session included short presentations from two speakers, Mikael Laurin – CEO at Lean Marine Sweden AB on the topic:  ‘How much fuel saving could your vessel get through operational excellence?’, and Markus Hoffman – Technical director at I-Tech AB on the topic:  ‘barnacle fouling: how big is the problem and is there a quick fix solution?’ in addition to Q&A sessions.

Click here to watch the recorded video of the 1-hour virtual conference session.

New I-Tech customer launches Selektope®-containing products

New I-Tech customer launches Selektope®-containing products

Leading Norwegian paint-manufacturer Jotun has commercialized two new marine paint products containing I-Tech’s antifouling active agent Selektope®.  

Jotun, the world’s largest manufacturer of marine paints, will use Selektope® in two antifouling products targeting customers within commercial shipping where increased protection against barnacle fouling is needed for idle ships during the outfitting period.  I-Tech and Jotun are yet to formalize an agreement that binds orders for the commercialization. Therefore, the company can not issue any statement regarding volumes and financial impact.

Jotun will use I-Tech’s antifouling active agent Selektope® in the products SeaQuantum Pro Ace and SeaForce Active Ace. These are the first products launched by Jotun that contain Selektope®.

Philip Chaabane, CEO, I-Tech, says: “Jotun’s choice to use Selektope® is yet more evidence of our product’s prominent features and efficiency. I’m pleased to recognize that Jotun has introduced Selektope® in two different product families bringing extreme performance for repelling barnacles from the hull and creating new opportunities for a range of different vessels at the new build phase and subsequent operations.”

With this product introduction, Jotun becomes the third official customer to integrate Selektope® as a key ingredient into advanced and fuel saving antifouling paints available to globally trading vessels. Previous communication from I-Tech states that there is yet another major, but non-disclosed, manufacturer of marine paints working through the final development steps prior to product commercialization.  

Selektope® is an organic, metal-free antifouling active agent added to marine coatings to prevent barnacles from settling on the coated surface by temporarily activating their swimming behavior with non-fatal effect. This unique antifouling active agent delivers superior efficiency in extremely low concentrations (approximately 0.1% per wet weight of paint = only a few grams per liter of paint).

The importance of reduced emissions

The International Maritime Organization (IMO) has committed to reducing emissions from commercial shipping by 50 percent by 2050, compared to 2008 levels. Reduced hull biofouling will be one of the key factors required to achieve this target since even small amounts of biofouling on the hull can contribute to a significant increase in fuel consumption. Climate change will also lead to increased sea temperatures which in turn will accelerate biofouling risk.  

Antifouling paints will be one of the key technologies required to achieve the IMO 2050 CO2 emission reduction targets. Selektope®, with its high efficacy, precision and reduced environmental impact, will play a vital role in solving this challenge for the shipping industry,” Philip Chaabane concludes.

Selektope®-powered antifouling coating receives Nikkei Business Daily Awards for Excellence award

Selektope®-powered antifouling coating receives Nikkei Business Daily Awards for Excellence award

I-Tech AB’s (publ) (ticker: ITECH) largest customer, Chugoku Marine Paints, Ltd, has received prestigiousrecognition from the Nikkei Business Daily Awards for Excellence for their SEA PREMIER 3000 PLUS antifouling coating which is based on I-Tech’s revolutionary, barnacle-repelling active agent Selektope®.

SEA PREMIER 3000 PLUS was recognised by the Nikkei Business Daily Awards for Excellence, in the Superior Products and Services Award category.

The Nikkei is the largest financial newspaper in Japan. Now in their 38th year, the Nikkei Business Daily Awards for Excellence independently applauds high-performing products and services, with award recipients announced in the newspaper in early January each year.

Introduced to the market by Chugoku Marine Paints (CMP) in April 2019, SEA PREMIER 3000 PLUS is the eighth antifouling product commercialised by the Japanese paint manufacturer to contain Selektope®. The advanced silyl polymer hydrolysis type antifouling coating was specifically engineered to meet intensifying fouling challenges facing coastal vessels in Japanese waters due to rising seawater temperatures. The coating product is particularly suitable for vessels operating with a low activity rate or at low speed. SEA PREMIER 3000 PLUS can also be used in niche areas such as sea chests and interior-grating-bow thruster tunnels.

I-Tech AB’s advanced antifouling active agent Selektope® plays an integral role in the coating’s hard fouling prevention, allowing SEA PREMIER 3000 PLUS to deliver superior static performance against hard fouling in addition to maintaining hull smoothness. Selektope® is an organic, non-metal active agent that works to prevent barnacle fouling by temporarily activating the swimming behaviour of barnacle cyprid larvae, repelling them from the hull surface. This unique antifouling active agent is characterised by its precision and efficiency at extremely low concentrations, and its non-fatal effect on the target organism.

Philip Chaabane, CEO I-Tech AB, commented: “Selektope® is an integral component in SEA PREMIER 3000 PLUS, an outstanding product that combines Japanese and Swedish innovation to deliver superior antifouling power for ship hulls and niche areas. We proudly welcome the recognition from the Nikkei Business Daily Awards for Excellence, an award that reflects CMP’s successful engineering work in integrating and taking strong advantage of our technology to achieve superior fouling prevention results.”

“Approaches to improve the performance and efficiency of vessels in the light of increasing environmental challenges come in many forms but preventing barnacle fouling in an intelligent way is something the industry needs to embrace.”

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. 

Chugoku Marine Paints expands Selektope®-containing antifouling coating range

Chugoku Marine Paints expands Selektope®-containing antifouling coating range

A new antifouling coating containing the barnacle-repellent active agent Selektope® has been introduced to the market by Chugoku Marine Paints (CMP). SEA PREMIER 3000 PLUS is the eighth product developed by CMP that contains Selektope®, demonstrating the Japanese paint manufacturer’s growing commitment to the technology.

SEA PREMIER 3000 PLUS is a self-polishing coating based on silyl polymer technology. It delivers excellent slime and algal resistance with the combined power of Selektope® and cuprous oxide for superior hard fouling prevention. Developed initially for use in the Japanese domestic market by coastal vessels, SEA PREMIER 3000 PLUS is particularly suitable for vessels operating with a low activity rate or at low speed. The coating is also suitable for use in niche areas, such as sea chests and interior-grating-bow thruster tunnels.

“The increasing range of Selektope®-containing products introduced to the market by our largest customer further demonstrates our technology’s vital contribution to enhancing the performance and differentiation of antifouling coatings. Expanding the range of Selektope®-containing products in the world’s third largest market* for marine coatings will contribute to continued long-term growth for I-Tech,” says Philip Chaabane, CEO, I-Tech AB (PUBL).

*Report: Marine Coatings Market – Global Forecast to 2022, Markets and Markets – 2018.

I-Tech wins IPO of the Year 2018 award for share price development

I-Tech wins IPO of the Year 2018 award for share price development

On May 22, I-Tech AB was named as the winner of the SvD Börsplus IPO-guide IPO of the Year 2018 Award in the Share Price Development category for the small company class. I-Tech also took fourth place, out of a total of twenty companies, in the IPO of the Year Award in the Quality category for the small company class.

SvD Börsplus IPO guide, a service available for all investors with an instant overview of all relevant facts regarding upcoming IPOs, conduct a review of all Swedish IPOs during the year and award prizes for the best IPOs in different classes and categories. Each year, winners of the SvD Börsplus IPO-guide Awards are announced for companies and financial advisors in the Share Price Development and Quality categories. These two categories are divided into three classes of companies in the Billion-SEK companies, Small companies and Micro companies segments.

Share price development is measured from the date of the IPO and 12 months ahead or at the latest April 30, 2018. In the Quality class, companies are ranked firstly after the lowest number of ‘warning flags’ and secondly after share price development.

“We are very happy that the market has showed great confidence in us and that the share price has had such positive development. We are also proud of the high ranking in the Quality class,” says Magnus Henell, CFO, I-Tech.

Erik Penser Bank acted as the financial advisor during I-Tech’s  IPO process. They received the SvD Börsplus IPO-guide Best Financial Advisor award in the Quality category for the small company class for work, amongst others, conducted during I-Tech’s IPO.

I-Tech expands team with Technical Director appointment

I-Tech expands team with Technical Director appointment

I-Tech AB has appointed Dr. Markus Hoffmann to the role of Technical Director.

In the newly-created senior position, Dr. Hoffmann will play a pivotal role in I-Tech’s commercial and development processes with the aim of accelerating and expanding current business within the global marine coatings industry. He will also be a key player in generating new revenue streams from the use of Selektope® in other application areas and sectors.

Dr. Hoffmann has joined I-Tech following great successes achieved over an eight-year period in the role of Subject Matter Expert Antifouling Coatings Research and Development at Hempel A/S. Previously, he served as R&D Department Manager of Hempel’s Antifouling Global Center of Excellence in Barcelona. Earlier in his career, Dr. Hoffmann held the post of Team Manager Central R&D at BASF. His academic qualifications include a PhD in organic chemistry from JMU of Würzburg, Germany and a post-doc position at Kyoto University, Japan.

With a proven track record of innovation in the management of processes from the creation of new antifouling technology ideas to the selection of fundamental and applied research and successful conversion to product development and launch, Dr. Hoffmann brings significant knowledge to his role at I-Tech from numerous areas of expertise. In addition, his well-established network throughout large parts of the value chain will expand I-Tech’s reach even further.

“I am very pleased that a key industry player such as Markus has joined I-Tech in the position of Technical Director,” says Philip Chaabane, CEO, I-Tech AB. “Markus’ experience in product management and antifouling coating development, coupled with his academic background in organic chemistry and well-anchored position in the industry, make him the perfect addition to our growing team of talent and entrepreneurship.”

Team Tankers International signs up more ships to using Selektope®-powered hull coatings

Team Tankers International signs up more ships to using Selektope®-powered hull coatings

Bermudan tanker owner and operator Team Tankers International has committed four additional ships to using the protection of the anti-barnacle active agent Selektope® following distinguished fouling prevention performance during a 40-month trial of an antifouling coating containing the technology on an MR tanker in their fleet.

The vertical sides of the46,067DWT chemical and products carrier Team Calypso were coated with Chugoku Marine Paints’ SEAFLO NEO CF-Premium antifouling coating that contains Selektope® during its five-year drydocking at the Sembcorp shipyard, Singapore in 2015.

During the last 40 months the MR tanker has been in active operation across a wide range of trade routes globally, often sailing in global biofouling hotspots with > 25oC (up to 32oC) water temperatures where the risk of biofouling is very high. The vessel has also spent several extended periods idling in these zones.

However, during the trial, barnacles failed to anchor themselves to the tanker’s hull thanks to the protection from Selektope® which activates the barnacle larvae’s octopamine receptor, keeping them in swimming mode and preventing them from attaching to the hull with non-fatal effect. 

A hull inspection conducted at month 35 in the tanker’s in-water-survey schedule established that Team Calypso’s hull was virtually barnacle free with no soft fouling coverage.

Independent third-party data analysis has also verified the fouling prevention performance of the Selektope®-powered hull coating. At month 40, total added resistance on Team Calypso’s hull and propeller due to fouling is exceptionally low, at 16%, compared to up to 30% expected for a reference ship of similar age, size and trading patterns. Of that 16% total, added resistance on the hull accounted for 10% whereas added resistance on the propeller accounted for the remaining 7%. The development of added resistance was calculated at a rate equivalent to 0.4% per month, compared to the expected rate of between 0.5% and 1.5%.

I-Tech AB CEO Philip Chaabane comments: “This tanker owner is reaping the fuel saving benefits associated with a Selektope®-powered antifouling coating. The independent data analysis coupled with the underwater hull inspection prove that Selektope® delivers strong protection from hard fouling, whatever the vessel’s activity or trading pattern.”

Team Tankers Performance & Environmental Manager Capt. Pär Brandholm comments: “Team Calypso has operated for over three years since last dry dock, and we can conclude that the fouling of the hull remains at a very low level and we hope the trend will continue being flat. We anticipate similar performance for our vessels Team Tapatio, Team Toccata, Team Tosca and Team Leader using the same hull coating containing Selektope®.”

Chugoku Marine Paints Sales Manager Northern Europe Peter Douma comments: “Chugoku Marine Paints is proud to offer an antifouling system containing Selektope® that delivers outstanding performance for a multitude of vessel types, docking intervals, trading patterns and activity. The effectiveness of our SEAFLO NEO CF-PREMIUM has been demonstrated by the results achieved on Team Calypso.”

With multiple major coatings suppliers now turning to this antifouling active agent to enhance the hard fouling prevention offered by their antifouling products, I-Tech AB is urging ship owners to check whether Selektope® is present in the antifouling systems being considered during their coating selection process.

I-Tech AB crowned winner of the Trade and Industry Group Göteborg & Co Companipris 2018

I-Tech AB crowned winner of the Trade and Industry Group Göteborg & Co Companipris 2018

I-Tech AB has been awarded this year’s Göteborg & Co Companipris for great entrepreneurship and innovation demonstrated in developing and achieving the establishment of the unique antifouling active agent Selektope® in the marine coatings industry.

The prize will be awarded by the Trade and Industry Group Göteborg & Co and the Chairman of the Municipal Board, Axel Josefson, on April 2 in connection with the Börssällskapet meeting.

I-Tech was founded in 2000 as a spin-off from a research project conducted by the University of Gothenburg and Chalmers. Added into marine paints during the manufacturing process, Selektope prohibits the attachment of barnacles to a ship’s hull by keeping the exposed barnacle larvae in swimming mode due to the activation of the larvae’s octopamine receptor. It is unique in its application in ship biofouling protection as it is the only antifouling substance that has a deterrent effect on barnacles.  

“This year’s winner is a company that has shown great entrepreneurship and innovation. Through their ground-breaking research, they have changed the marine paint industry and are now at the forefront of development. I-Tech has a unique and sustainable product that is world-leading,” says Christian Westerberg, project manager at Trade and Industry Group Göteborg & Co.

“In a city with many exciting and promising companies, we feel great humility to stand as the winner of the Göteborg Companipris. I-Tech, born from local academic research and largely backed up by local financiers, is in the midst of a global expansion in the Gothenburg significant marine sector. We share the honor with everyone who has participated in our almost 20-year journey,” says Philip Chaabane, CEO of I-Tech.

https://via.tt.se/pressmeddelande/de-vinner-goteborgs-companipris-2018?publisherId=2567142&releaseId=3251825

Facts about the Göteborgs Companipris:

– The Business & Industry Group at Göteborg & Co annually distributes the Göteborgs Companipris to successful companies that are run and developed in the Gothenburg region.

– The prize consists of 25,000 sek and a silver statue.

– Since the Companipris was founded in 1994, the prize has been received to approximately 60 companies.

Trade and Industry Group Göteborg & Co is a platform for collaboration between business, organizations, municipalities and academia that works to strengthen and develop Gothenburg’s competitive and attractive power. Through initiatives and projects, the Enterprise Group stimulates long-term competence provision and inclusion in order to contribute to an attractive, vibrant and sustainable metropolitan area.