13 Dec Annual Report 2011/2012
ANNUAL REPORT 2011/2012
Aquaporin A/S announces today release of its 2011/2012 annual report covering the period October 1, 2011 to September 30, 2012. Key achievements are:
- During the year, the Aquaporin Inside™ technology was successfully tested in practice at several industrial test partners around the globe
- As an approved supplier to NASA, Aquaporin sold test membranes to the American space industry. Based on the successful tests, NASA is expected to test Aquaporin’s membranes in 2014 in space
- Aquaporin consolidated its position as world leading in the development of biomimetic membranes for water purification with new approvals of important patent families – e.g. on the important Chinese market
- World renowned analysts Frost & Sullivan acknowledged Aquaporin’s huge progress by presenting it with the “2012 European Award for Technology Innovation”
- The partnership with German Industrial Group Membrana GmbH continued to develop very satisfactorily with the achievement of all important milestones set out in the Business Innovation Fund agreement
- Aquaporin’s collaboration with leading institutes in Singapore supported by the Singaporean state continued to develop very satisfactorily
- Aquaporin now focuses all resources towards preparation for market introduction of its first commercial Aquaporin Inside™ membrane by the end of 2013
Year 2011/12 in outline
During the fiscal year 2011/2012 Aquaporin A/S, a subsidiary in the M. Goldschmidt Holding Group, continued the successful development of its Aquaporin Inside™ technology. The year became ground-breaking for the company, which conducted the first industrial field tests in collaboration with a number of potential future customers such as American NASA.
CEO Peter Holme Jensen says: “We are experiencing significant success with our numerous test partners in Europe, US and Asia, who provide valuable feedback on the membranes they are testing. We use the feedback to optimize on our future product and adjust membrane specifications according to individual needs. The next year we will be focusing on product maturation, customer relations and further development of our ground-breaking technology.”
Aquaporin continues an on-going dialogue with several industrial players with regards to various possible collaboration scenarios. The company estimates that these discussions will lead to one or more signed partnership agreements in 2013.
Further strengthening of patent and trademark position
The patent situation in Aquaporin A/S continues to develop very positively with the approval of additional patents – amongst others in China – such that Aquaporin A/S now owns 28 issued patents worldwide with more than 100 approved patent claims.
Establishment of production capacity
With the global protection of the Aquaporin Inside™ technology in place, the stage is set for a transforming 2012/13 for Aquaporin, in which the Aquaporin Inside™ technology will be up-scaled to automated production of membranes. Consequently, Aquaporin will be investing in a high-tech automated pilot production unit for delivery at the beginning of 2013. This equipment will streamline the membrane production, reduce production costs and secure a consistent and high product quality.
Chairman Søren Bjørn Hansen states: “Over the coming year, Aquaporin needs to move from a pure R&D focused company to a global, commercial organisation rooted in R&D and ground-breaking innovation. This is a huge task, but the market potential for our revolutionising, patented technology is enormous and we have all the opportunities of becoming a commercial success.”
A part of the global strategy is the activation of the subsidiary Aquaporin Asia Pte. Ltd. in Singapore where the possibilities and conditions for a development company such as Aquaporin are very favourable. In addition, proximity to major markets in Asia including India, China and Japan is very interesting from a business perspective. It is expected that the Singapore company will be operational from early 2013.
In 2011/2012 Aquaporin realised a loss (operating profit) of 6.1 million dkr (2010/2011: 6.4 million dkr) as predicted at the beginning of the year. The company’s capital base was strengthened through the supply of capital from its major shareholder, and the company has received financial commitment from the same for the entire 2012/2013.
Aquaporin implemented a warrant program for all employees implying that every employee – from secretary to manager – now owns a share of the company. In this connection, Chairman Søren Bjørn Hansen says: “We regard ownership as the ultimate recognition of a fantastic effort by all Aquaporin employees throughout the recent years. The skilled employees are the ones who will secure our success, and when this happens everybody will benefit.”
Overall, development in the financial year was very satisfactory.
For further information
CEO Peter Holme Jensen, phone +45 82 30 30 82.