Alexium International Group (ASX:AJX, OTCQX:AXXIY) has received a US$250,000 grant from a bi-national that facilitates industrial research and development projects between companies from South Carolina and Israel.
As part of this program, the company will work with ICL, Inc. of Israel to develop flame retardant chemicals and treatment packages to be supplied to the textile industry.
ICL is the world's leading producer of elemental bromine and a major player in the FR industry, both through its manufacture and sale of bromine-based FRs and its world-leading production of organophosphorus-based fire retardants.
Its 2012 sales totalled $6.5 billion, half of which were derived from products manufactured outside Israel.
"Alexium, Inc. expects positive results out of this collaboration. ICL are a world leader in the flame retardant industry," head of research and development Bob Brookins said.
The South Carolina/Israel Collaborative Industry R&D Program is a new program designed to promote collaborative efforts between companies from South Carolina and Israel.
This will stimulate generation and development of new or significantly improved products or processes for commercialisation in global markets.
It is executed by the South Carolina Research Authority (SCRA) and the Israeli Center for R&D.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.