HeiQ Synbio Secures Ecolab Contract Win

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

22 April 2024

HeiQ Plc

("HeiQ" or "the Company")

HeiQ Synbio Secures Ecolab Contract Win

HeiQ Plc (LSE: HEIQ), a leading company in materials innovation and hygiene technologies, is pleased to announce that its Life Sciences Business Unit has signed a significant distributor agreement with Ecolab Inc. (NYSE: ECL) to supply HeiQ Synbio Cleaners, a product from the Company's industrial biotechnology platform that uses natural synbiotic ingredients to achieve high efficacy cleaning.

This five-year supply agreement with Ecolab, a world leader in water, hygiene, and infection prevention solutions and services, will see Ecolab offer its customers a range of cleaning products developed using the HeiQ Synbio technology platform. HeiQ will receive an initial upfront payment of €1.8 million to support the investment needed for the first two years of market introduction, and if successful, additional minimum contractual orders for the following three years, generating minimum revenues of €11 million in aggregate. Ecolab will have exclusive distribution rights in the field of B2B cleaning for the European Union, EFTA countries and the U.K.

The HeiQ Synbio technology platform was developed by HeiQ Chrisal N.V., which became part of the HeiQ Group in Q2 2021 as one of HeiQ's three capability building acquisitions. This distributor agreement with Ecolab as a leading hygiene channel partner follows HeiQ's significant investment into the HeiQ Synbio technology platform during the last two years. The compounds have been awarded the first EU Ecolabel for probiotic cleaning and are developed in accordance with the new draft EU Detergent Regulation.

Carlo Centonze, co-founder and CEO, HeiQ plc, said: "We are thrilled to be partnering with Ecolab, a global leader in the development and distribution of hygiene and infection prevention solutions. This agreement validates the disruptive qualities of our HeiQ Synbio industrial biotech platform and its innovative first mover position in the market.

"Our partnership will see us work closely alongside Ecolab to co-develop further exciting and innovative uses for our HeiQ Synbio technology platform, creating the potential to open up additional new markets and application fields. We are proud that with our HeiQ Synbio biotechnology we contribute to improve people´s lives by adding hygiene, protection and sustainability to products we use every day."

Adrian Studer, EVP & Market Head, Ecolab Europe said: "Our customers in Europe are highly focused on sustainable cleaning solutions and in an environment where regulations are rapidly changing, this agreement is one example of the steps we are taking to meet our customers´ evolving goals and our own purpose to drive positive impact on the planet.

"Working with HeiQ creates a complementary product offering with interesting longer-lasting environmental control in specific cleaning environments that works together with our existing best-in-class cleaning solutions. We look forward to leveraging the power of Ecolab´s deep market expertise and our salesforce breadth to drive implementation across Europe."

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About HeiQ

Founded in 2005, HeiQ is a Swiss-based international company that is a global leader in biotech ingredients and specialty chemicals for diverse applications such as textiles, flooring, building materials, glass, plastics, probiotic cleaning, cosmetics, and more. Working with more than 1000 partners in over 60 countries, our goal is to infuse ordinary products with extraordinary qualities, offering our co-creation partners sustainable and disruptive solutions across industries. Our business model focuses on the commercialization of existing and as well as the incubation of new technologies, driving shareholder value through sales growth, entry into lucrative markets, and disruptive innovation. Our business model consists of three distinct platform technology ventures, being HeiQ AeoniQ, HeiQ ECOS, and HeiQ GrapheneX, and three growth-orientated commercialized business units financing our ventures, being HeiQ Textiles & Flooring, HeiQ Life Sciences (probiotic industrial biotech), and HeiQ Antimicrobials.

We have a robust track record of innovation, with over 200 technologies developed in partnership with 300 major brands, including Hanes, Burberry, HUGO BOSS, Lycra, Zara, Itochu, Bosch Siemens, Ecolab, Woellner, Americhem, Lixil, and many more. Our global team comprises 230 professionals from 30 nationalities across five continents. We're committed to shaping a future where everyday products drive positive change, one innovation at a time.

To learn more about HeiQ and our innovative solutions, visit www.heiq.com.

About Ecolab

A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global sustainability leader offering water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. Building on a century of innovation, Ecolab has annual sales of $15 billion, employs more than 48,000 associates and operates in more than 170 countries around the world. The company delivers comprehensive science-based solutions, data-driven insights and world-class service to advance food safety, maintain clean and safe environments, and optimize water and energy use. Ecolab's innovative solutions improve operational efficiencies and sustainability for customers in the food, healthcare, life sciences, hospitality and industrial markets.