December 22nd 2022
Photocat secures first sales contract worth of 30,000 EUR in United Arab Emirates (UAE) with the Public Listed group company ‘Fujairah Building Industries PJSC’
Roskilde, Denmark. December 22, 2022 - Photocat has today entered into a product delivery contract with the UAE based concrete company ‘Fujairah Concrete Products’. This is Photocat’s first sales agreement in the Gulf Cooperation Council (GCC) region and is a result of a focused intense market activity aimed at supplying our photocatalytic technology for respective air cleaning projects.
Fujairah Concrete Products is a leading concrete manufacturer in the United Arab Emirates.
Photocat has a strong concrete patent position with technology covering the use of photocatalytic technology in both wet and dry concrete. The value of this is important to society also in the GCC Region as focus on air quality and NOx reduction is part of improving life quality in the region. E.g., the official aspiration for Dubai is to be the most sustainable city in the World by 2050.
The sales value of this agreement is roughly 30,000 EUR and will not affect financial performance in the calendar year 2022. Physical delivery will take place at the end of 2022 and payment will occur during Q1 2023.
CBO Jesper Elsgaard says, “We are very proud to have been chosen by such large and established concrete producer in the UAE. Providing our proprietary photocatalytic solution to designated air cleaning projects via Fujairah Concrete Products marks the start of our strategic engagements in the wider Gulf Cooperation Council Region (GCC). We feel privileged that we now are an active solution provider in terms of removing harmful NOx pollution in the GCC region. I want to thank Fujairah Concrete Products for their vision, outlook and professionalism and expect a long-term partnership for these air cleaning initiatives in the Region”.
WHO recently made it clear that air quality threshold values need to be lowered in order to save more lives and give more life quality to inhabitants. The current NO2 pollution level is on average 6 times above the WHO recommended threshold. Photocat believes that its Technology powered by UV/sun light will be one of the most energy efficient air quality improvers in the GCC region and also very cost efficient with fast Return on Investments.
Photocat A/S is obliged to make this information public in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the Agency of the contact person set out below at 16.00 on December 22, 2022.
For further information, please contact:
Jesper Elsgaard
Chief Business Officer
Photocat A/S
Tel: +45 5121 7651
e-mail: jes@photocat.net
About Photocat
Photocat manufactures patented coating materials for both outdoor and indoor applications with the effect to degrade NOx and VOC´s when exposed to light. Both NOx and VOC’s are severely damaging to human health. Photocat’s patented technology is a very efficient and an economically viable alternative to many of the traditional technologies targeting NOx (e.g. bus catalysts, flue gas cleaning etc.). Photocat’s shares are listed on Nasdaq Stockholm, First North with the ticker symbol PCAT. The company’s Certified Advisor is Mangold Fondkommission AB.
Photocat A/S (publ) l Langebjerg 4 DK-4000 Roskilde l Tel: +45 7022 5055 l www.photocat.net
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