Volledige tekst:
Accsys, the chemical technology group, focused on the acetylation of wood, today is pleased to
announce further progress with the Tricoya project and resulting changes to the Tricoya Technologies
Limited (‘TTL’) joint venture.
Accsys can disclose a number of changes to its Tricoya project, central to which is a Memorandum of
Understanding (‘MoU’) with a large international chemical group (the ‘Chemical Group’) to replace our
existing joint venture partner, Ineos. These changes are expected to optimise our participation in the
building and operation of the world’s first Tricoya chip acetylation plant (the ‘New Plant’), including
allowing Accsys to derive revenue from both licensing and manufacturing in the future. Full
agreements are expected to follow later in 2015.
Accsys has entered into the MoU with the Chemical Group to secure funding, technical and other
operational support in respect of the next stage of development of the Tricoya project. Accsys has
also agreed to acquire the 50% share in TTL currently owned by Ineos, giving it 100% ownership and
control of TTL until a new ownership structure is established.
TTL is also in detailed discussions with other parties which are expected to lead to the creation of a
new consortium, including the Chemical Group, to fund, build and then operate the New Plant.
As part of these arrangements:
? The Chemical Group and TTL are jointly undertaking a detailed site feasibility review to
examine whether the plant should be optimally located alongside one of the Chemical Group’s
existing sites. This feasibility review and related detailed study and engineering work are
expected to be completed by the end of 2015 with the plant fully operational by the end of
2017;
? The Chemical Group has agreed to provide financial and technical support, including
contributing towards further detailed engineering for the New Plant;
? Medite has confirmed its interest in participating in the new consortium and on-going
engagement with TTL to realise its full potential. It is anticipated Medite will enter into a key
production off-take agreement in respect of the New Plant which is expected to replace its
own Tricoya production plant in Ireland under its joint development, production and
distribution licence agreement with TTL (which is now expected to terminate later this year
once consortium discussions are concluded);
? Following Accsys acquiring Ineos’s share in TTL and Ineos relinquishing its obligations as a
TTL shareholder, Ineos has agreed to continue to provide key engineering and technical
personnel to TTL on a contractual basis in the near term; and
TTL will continue to out-licence its intellectual property in respect of both the manufacturing
and sales processes and brand rights.
Accsys has initiated these arrangements, at a time that sales of Medite Tricoya have continued to
grow, with sales having increased by approximately 70% over the year ended December 2014
compared to the year before.
Accsys will be providing further information on the progress of these plans in due course and within
Accsys’ final results which are expected to be announced in June, 2015
Paul Clegg, Chief Executive commented:
“These are exciting developments for the Tricoya project. We are grateful for the support that Ineos
has given to Accsys to date. I am confident that, with the support from our prospective consortium
partners, we will be able to realise the exciting potential of our Tricoya technology for the benefit of
our shareholders.”