“Game changer” deal boosts Tricoya6 August 2012
Accsys Technologies has secured what the company has described as the latest in a series of game changing agreements to develop the manufacture and sales of its modified wood products.
A head of terms agreement with global petrochemical giant INEOS to form a joint venture is the latest move in the company's drive to license the development of production plants and the manufacture of Accoya and the panel product Tricoya, said CEO Paul Clegg.
Although the company recently posted another loss - €14.4m for the year - Mr Clegg has insisted licensing deals to exploit the intellectual property are the path to profit.
"Three or four years ago people did not know whether we would survive, but we have developed and now we have a huge amount of resources that we can draw upon," he said.
The joint venture will allow British-based INEOS to license the Tricoya process to third parties, providing the experience and technical support to design and commission plants.
"This is a real game changer. It will accelerate the roll out of Tricoya, but INEOS also have a reach into markets such as China, India and Russia that we do not," Mr Clegg said.
Accsys recently concluded a licensing deal with an MDF and chipboard manufacturer in South America, preceded by an option to validate market demand and the use of Tricoya chips as feedstock on its existing MDF lines. If successful, this would license 90,000m3 of Tricoya-branded MDF over two years.
Coillte has exclusive rights to Tricoya in the UK, Ireland and Netherlands.
For Accoya, Accsys last month agreed a licence with Germany-based multi-national chemical giant Rhodia Acetow to build production plants in Europe, excluding the UK, Ireland and Netherlands.