Alexium raises $1.3m offshore

Perth-based specialist surface treatments developer Alexium International Group has raised more than $1.3 million from offshore investors to fund research and commercialization efforts.

The company, which is chaired by Gavin Rezos and inhabits the shell left by former wine company Evans & Tate, has technology which it claims can improve the ability of various materials to protect against fire, chemical and biological threats.

The technology was acquired from a US owner during the global financial crisis.

Alexium is targeting markets such as uniforms worn in the defence sector as a key area for development.

Below is the full announcement:

Alexium is pleased to announce it has placed a total of 13,500,000 shares at 10c each to raise AUD $1,350,000 (before costs) to US and European institutional investors.

The Arranger of the placement was Beaufort International Associates Limited, London (authorised and regulated by the Financial Services Authority).

Alexium’s revenue potential has been demonstrated through recent US and Europe presentations of its patented Reactive Surface Treatment (RST) technology which applies low cost cold microwave energy to surface chemical treatments enabling multi function protection such as fire retardance, water and oil proofing, anti microbial, UV, chemical and biological agent protection, and non stick treatment to a range of surfaces. Applications in commercial and defense sector areas involve surfaces such as textiles, filters, glass, packaging, paints and composites.

Recent highlights include:

1. The US$129m Uniform Integrated Protective Ensemble (UIPE) Department of Defense (DoD) tender announced on 20 April 2011 for the supply of Panther Tactical Chem Bio Suits to the US DoD.

2. The demonstrated increased productive efficiency of reactive surface coatings on textiles with the completion of a second modular RST microwave textile unit in Greer that can operate at higher speeds for larger runs of material.

RB Milestone Group in New York recently published and an independent research report on Alexium.

The funds raised will be applied towards supporting the UIPE tender, new commercial sector product development in the textile fire retardant area, work in filters, glass and composites and for general working capital requirements.