6th Jul 2023 15:31
HeiQ PLC - London-based materials innovation and hygiene technology company - Says subsidiary HeiQ AeoniQ GmbH gains USD2.5 million investment from MAS Holdings. The investment includes USD1.5 million upfront, plus USD1 million at a mutually agreed milestone. HeiQ and MAS have agreed to a five-year non-binding offtake agreement, pursuant to which HeiQ expects to receive purchase orders of up to USD100 million over a five-year period, corresponding to 3,000 tons of HeiQ AeoniQ yarn in 2025 and 5,000 tons per year from 2026 to 2029. HeiQ expects to commission its first AeoniQ yarn large scale production site by early 2026.
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By Holly Beveridge, Alliance News reporter
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