Alexium has now entered the final validation phase with a new interior furnishings customer, and has formulated a new compound for a proprietary, vertical hanging fabric with high synthetic content.
Initial testing met and exceeded customer expectations, with the final validation trial to commence by the end of February.
The annual run rate is expected to be 600,000 yards, which is forecast to be between US$1.2 million and US$1.5 million a year.
Dirk L. Van Hyning, Ph.D. (President) told Proactive Investors that Alexium currently has over 20 customers actively generating revenue at some level.
"We have 31 customers in active late-stage scale-up mode, all of which have financial commitments to cover chemistry and/or our time and travel.
"We are actively developing formulations for over 100 potential clients in our development labs with more being added every day."
Agreement with the VLS-Group
Earlier in the month Alexium signed a partnership agreement with Antwerp, Belgium based VLS-Group, a market leading, vertically integrated supply chain & distributor.
VLS-Group has worldwide infrastructure in place to support Alexium's growth in Europe, the Middle East, Africa, Asia and the Americas.
This global alliance will enable Alexium to provide complete supply chain simplification in concert with the Global Distribution Partner's growth.
It will also provide the company with a complete service platform for customers with multiple plant locations worldwide.
The new interior furnishings customer current opportunity has highlighted Alexium's ability to provide a readily available and adaptable chemistry, enabling it to capture various niche markets - providing a competitive advantage.
As Alexium moves along the 1st quarter of 2016, sales are increasing and opportunities continue to progress.
While this growth continues, Alexium is quickly putting support infrastructure in place, which is a key part to a successful strategy.
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