Accoya
®
Licence Agreement with Solvay-Rhodia
Accsys is pleased to announce it has entered into a licence agreement with, Rhodia
Acetow GmbH, a wholly owned subsidiary of Solvay-Rhodia (“Solvay”) for the
production and sale of Accoya®
wood using Accsys’ proprietary acetylation
technology (the “Technology”).
Accsys previously announced comprehensive heads of terms following an earlier
option agreement with a major multinational corporation. This resulting Accoya
licence agreement reflects a significant amount of work from Accsys and Solvay and
represents a commitment to the next stage in the successful commercialisation of
Accoya and its acceptance as the globally recognised leading high technology, high
performance, modified wood.
Scope of agreement
The licence provides for the conditional grant to Solvay of exclusive rights for a 15
year period to produce and sell Accoya within the Council of Europe save for
Belgium, Ireland, Luxemburg, the Netherlands and the United Kingdom. This initial
exclusive period is subject to certain growth and market development obligations
being satisfied. In consideration of the grant of rights, Solvay shall pay to Accsys
licence and royalty fees.
The agreement allows for the construction of multiple Accoya production plants, with
the first plant having an initial capacity of approximately 63,000 m³ of finished
Accoya output.
Both parties have been working together extensively in many areas. The engineering
design of the plant has already commenced and the completion of the basic
engineering plan is required and is yet to be completed. In addition Solvay has
commissioned a detailed market promotion program in countries within its territory.
The agreement is conditional on certain limited provisions being satisfied, including
the formal approval of both Accsys and Solvay’s board of directors. Whilst there can