Posts Tagged ‘Swedish technology’

Dec 16 2017

CESI was shocked to learn that the Serstech AB rocket has returned to planet earth.

Serstech AB was early celebrated for its world class technology and strategy. During this era, CESI was not aware of the company´s existance.

Last year when the gigantic Asian order was press released, a friend bought shares during the Serstech AB rocket launch. CESI was informed about the company but did not have the courage to but shares at the +120 % intraday level, despite the press release of a gigantic order that in fact was larger than the Serstech market cap.

Now for the first time, CESI defined an excellent risk/reward as the planned for Jan 2018 share rights issue at 1.15 SEK surprisingly and suddenly almost match the current share price at 1.27 SEK. Two old shares allows for one new and the offer seems to be valid until Jan 9. Thus CESI will pay an average 1.23 SEK per share ((1.27+1.27+1.15)/3).

Serstech key events

So, CESI entered Serstech AB at the current price level (1.27 SEK) with the plan to fully join the share rights issue. Another less important trigger for this relatively early entry was the following: With great luck, an order from the Swedish Armed Forces could be announced as an investor bate during the share right issue subscribtion time slot. Obviously, for this jackpot scenario, great luck is needed 🙂

About Serstech:

“Serstech’s focus is within identification of explosives, narcotics, hazardous substances and Chemical Warfare Agents. With an easy-to-use solution, serstech is committed to help users identify potentially harmful substances and build chemical knowledge leading to better decisions and actions.

Chemical identification, our products reflect us. Today, Serstech combines spectroscopy techniques with advanced algorithm know-how to bring user friendly chemical identification to customers around the world. Our instrument is robust, compact and handheld.”

Very interestingly, Serstech has also been in focus at Milipol for best cybersecurity solution:

“Milipol in Paris is the world’s leading security event with about 1000 exhibitors, 160 international delegations and 25,000+ visitors. For the first time ever, Milipol has initiated a prize to promote innovation. It will be given to the most innovative entrepreneur providing Cyber Solutions in the Fight against Crime. Today, three of the exhibitors have been nominated and Serstech is proud to be one of them”

Primarily, CESI has browsed through all press releases from Serstech AB and a collection of key events is shared above. Furthermore,  an old blog post was digested:

https://www.redeye.se/arena/posts/serstech-serstech-potentiell-raket

Disclaimer: In Swedish above and below


 

Best Regards, CESI

The author, Cutting Edge Science Invest is a new Serstech share holder. Cutting Edge Science Invest can not guarantee, or take into  accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. 

One of Polyone´s business verticals is “Specialty Engineered Materials”.

Below is a quote from the company´s  homepage (source link)

“A leading provider of specialty polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials across a wide variety of markets and end-use applications. Our product portfolio, which we believe to be one of the most diverse in our industry, includes specialty formulated, high-performance polymer materials that are manufactured using thermoplastic resins and elastomers, which are then combined with advanced polymer additives, reinforcement, filler, colorant and /or biomaterial technologies.”

With +7000 associates, the company´s distribution comprehends “more than 3,500 grades of engineering and commodity grade resins, including PolyOne-produced solutions, PolyOne Distribution principally serves the North American and Asian markets. Products are sold to more than 6,000 custom injection molders and extruders who, in turn, convert them into plastic parts that are sold to end-users in a wide range of industries. Representing over 25 major suppliers, PolyOne Distribution offers a broad product portfolio, just-in-time delivery from multiple stocking locations and local technical support. Recent expansion in Central America and Asia has bolstered PolyOne distribution’s ability to serve the specialized needs of customers globally.

In the following work resulting in a patent application which subsequently was published in July 28 2016, Nexam Chemical was stated as the commercial source in “TABLE-US-00002” (see source link below).  

Source link

Application Number: 15024833 Application Date: 24.09.2014
Publication Number: 20160215095 Publication Date: 28.07.2016

Patent application title (US20160215095):

PREPARATION OF IMIDE OLIGOMERS VIA CONCURRENT REACTIVE EXTRUSION

Patent application abstract:

“Reactive extrusion can be used in a continuous, solvent-less preparation of imide oligomers involving two competing reactions among three ingredients, the first reaction between a dianhydride and a diamine and the second reaction between an endcap and the same diamine. The imide oligomer can form a composite via conventional production methods or via formation of a film from imide oligomer re-melted in an extruder before being impregnated into tape or fabric.”

https://patentscope.wipo.int/search/en/detail.jsf?docId=US175460705&recNum=10&maxRec=79&office=&prevFilter=&sortOption=Pub+Date+Desc&queryString=ALL%3A%28Nexam%29&tab=PCTDescription

More interestingly, Polyone seems to be a perfect customer. Why? Well, let´s look at the product portfolio. A bullish CESI believes it might be reasonable that Polyone is “generally interested” to boost internal technology and properties of products where possible.

 

CESI speculative conclusion: Potentially, Polyone might be one of the “later generation” customers. Time will tell.

Best regards, C.E.S.I.

The author, Cutting Edge Science Invest, is a positively biased Nexam Chemical share holder. Cutting Edge Science Invest can not guarantee, or take into accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. 

Findings like these makes CESI believe that the positive statements from the CEO Anders Spetz is based on fundamental progress and near future acceleration of turnaround and subsequent revenue. The Q2 report burnrate of approximately 5 MSEK (of total cash ~138 M SEK) was positively explained with “cost associated with stockpiling”.

WO 2017098179 A1
Publication date: June 15, 2017
Reactive compositions made from semi-crystalline amino polyamide prepolymer and unsaturated extender for thermoplastic composite materials

Source link : https://www.google.com/patents/WO2017098179A1?cl=en

Composite materials and, more particularly, composite materials comprising a polymeric matrix impregnated reinforcing fibers are increasingly used in many technical fields, especially in aeronautical applications, aerospace, wind, automobile , rail, marine. These applications mainly require composites with high mechanical performance, especially at high operating temperatures and with structural lightweight parts by weight relative to the metal and recyclable equivalent parts.

“To improve the impregnation of reinforcing fibers in the case of a thermoplastic composite material, reactive compositions precursors of the composite material based on a reactive prepolymer and a coreactive chain extender them have been proposed.
Preparation of polyamide polymer by chain extension with an extender a2)
Of the oligomer 1 above dried and ground is mixed in the solid state with 4- anhydride (methyl ethynyl) phthalic (APME, Mn = 186.2 g / mol) sold under the name ® A32 Nexamite by the company Nexam Chemical anhydride or trimellitic phenyl ethynyl (PETA, Mn = 276.3 g / mol) sold under the name Nexamite A56 ® by the company Nexam Chemical at different molar ratios a2) / NH2. The amounts are calculated so that the mixing weight is equal to 12 g.”

About Arkema:

+19000 employees and total sales roughly in the range of € 7 billion (!)

https://www.arkema.com/en/arkema-group/organization/
https://www.arkema.com/en/investor-relations/financials/key-figures/

 

Best regards, C.E.S.I.

The author, Cutting Edge Science Invest, is a positively biased Nexam Chemical share holder. Cutting Edge Science Invest can not guarantee, or take into accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. 

I was exceptionally impressed by Anders Spetz positive presentation of the Nexam Chemical Q2 interim report (Swedish language in audiocast presentation below)

https://tv.streamfabriken.com/nexam-chemicals-q2-2017

A completely new generation of polyethylene pipes in collaboration with one of the world´s largest company (large steps taken during the summer). A large number of customers has now entered qualification processes.

Within polyester foam (PET foam), completely new products have been developed jointly with the largest companies.

Within high performance, the development is also positive. Ongoing collaboration projects within aviation and internal product development have resulted in new products.

In the Q2 report, the CEO Anders Spetz stated that Armacell will in fact use Nexamite in its PET foam! Mr Market has still not reacted. I did.

http://www.nexamchemical.com/Investors/Press-releases/Pressmeddelande/?releaseid=2643669

According to the CEO, the company have managed to achieve the commercialization phase milestone and the company is now preparing for large volume orders (REACH certification and planning for masterbatch scale up). Funding was also recently granted for graphene research (a promising and hyped wonder material of a number of reasons according to industry consensus).

http://www.nexamchemical.com/Investors/Press-releases/Pressmeddelande/?releaseid=2559456

About graphene:

https://www.theguardian.com/science/2013/nov/26/graphene-molecule-potential-wonder-material

In addition, I regained motivation to actively follow events with direct- or indirect connection to the Nexam chemical business and emerging innovation, primarily via the patent domain. This resulted in the following minor hit:
Obviously, the following new patent application commenting Nexamite and the subsequent google search identifying the main applicant Martin Weinberg is of no direct impact for my opinion about Nexam Chemical´s chance to accelerate business. Still, and in waiting mode for the large customer´s ongoing tests, I define the following information as a nice receipt of the Nexam Chemical technology. Martin Weinberg, CEO of Xamax, seems to appreciate Nexamite. Presumably, Xamax is a small existing customer or alternatively a near future small customer.

Company and staff:

https://xamax.com/
https://xamax.com/our-team/

The following patent application was published July 20, 2017 (and Martin is one of two applicants).

[0038] Non-limiting examples of cross-linkers that can be used to form the present cross-linked aliphatic polyamide are commercially available from Nexam Chemical Holding AB, Scheelevagen 19, 223 63 LUND, Sweden. Nexam Chemical currently markets five different cross-linkers for different curing temperatures: NEXIMID® 100 (PEP A; e.g., Phenylethynyl phtalic anhydride), NEXIMID® 200 (EPA; e.g., ethynyl phtalic anhydride), NEXIMID ®300 (PETA; e.g., 5-(3-phenylpropioloyl)isobenzofuran-l ,3-dione), NEXIMID® 400 (EBPA; e.g., 5,5′-(ethyne-l,2-diyl)bis(isobenzofuran-l,3-dione), NEXIMID®500 (MEPA; e.g., 4-methylethynyl phthalic anhydride), and NEXAMITE® PBO (e.g., 1,3-phenylene-bis-oxazoline). NEXIMID® 300 (PETA) and NEXIMID®500 (MEPA) are particularly useful cross-linkers for aliphatic polyamides due to their lower reaction temperatures. NEXAMITE® PBO, which can act as an acid scavenger, can also be used to further stabilize aliphatic polyamide against acid attacks.

Patent application source link

Best regards, C.E.S.I.

The author, Cutting Edge Science Invest, is a positively biased Nexam Chemical share holder. Cutting Edge Science Invest can not guarantee, or take into accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. 

Yesterday, CESI was delighted to encounter yet another HP patent. You could argue that one patent would be sufficient to prove that HP bets on the Anoto AB technology. Today, it seems like HP has produced two

First patent:

https://cuttingedgescienceinvest.com/2015/07/06/anoto-ab-in-recent-patent-applications-a-cesi-compilation/

Now, yet another patent application has been announced:

hp1 intro

Interestingly, the inventors behind the second patent are the same as in the first patent where Anoto AB was excplicitly stated. Obviously, CESI believes that the new pen generation under the collaboration (most likely containing Anoto technology) simply will be entitled “HP pen X and Y”

First HP patent (source link above):

hp4

New HP patent (announced yesterday):

https://patentscope.wipo.int/search//en/detailPdf.jsf?ia=US2014046885&docIdPdf=id00000032072454&parSeparator1=&name=WO2016010534A+DIFFUSIVE+EMISSIVE+DISPLAY&parSeparator2=&woNum=WO2016010534&prevRecNum=2&nextRecNum=4&recNum=2&queryString=ALL%3A%28dot-pattern%29&office=&sortOption=Pub+Date+Desc&prevFilter=&maxRec=205637

 

hp1

hp2

hp1

hp3

HP dot

The above picture convinced CESI that this patent is totally dedicated towards the Anoto AB technology.

hp5

Conclusion: CESI expects an Anoto AB update very very soon.

 

Best regards, CESI

The author, Cutting Edge Science Invest, is a long term Anoto share holder. Cutting Edge Science Invest can not guarantee, or take into accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. Discaimer to boss: This blog post was produced during today´s coffe break

 

 

 

According to Anoto AB, no further capital demand is demanded the fourthcoming 12 months (reference sourcelink in Swedish here):

Anoto capital

Recently, insider purchases in Anoto AB has been reported:

http://bors.affarsvarlden.se/afvbors.sv/site/stock/stock_detail.page?magic=(cc%20(tsid%2042949)%20(detail%20(tab%20insiders)))

Redeye analyst Viktor Westman comments:

“With the new average cost per share of SEK 3.9 an increase in the share price of over 200 percent is needed in order to reach break-even and it now appears as if Revelsby believes that this is doable. Revelsby’s subscription for 600 000 shares should therefore mean a positive effect on the share at opening on Monday. Together with the purchase of 450 000 shares from Anoto’s chairman in November 11, Revelsby’s move also marks a long-awaited shift in the insider transactions in Anoto.”

Source link:

http://www.redeye.se/analys/today/more-skin-game-anotos-management

CESI is confident that clues are to be found in a number of recent verbal statements by the CEO Stein Revelsby. A few are found in the interview attached below (In Swedish)…

http://www.redeye.se/webcast/intervju-med-anotos-vd-stein-revelsby-pa-smabolagsdagen-2015

…and other interesting written statements are found in the Q3 report (partially) attached in blue font below. Miscellaneous CESI comments are also inserted below (bold blue, red and plain black font).

These statements strongly indicates an improved near future Q4 report. 

“Comments from the CEO

MULTI SURFACE PRECISION PEN INPUT

Revenues in the second quarter were 55 MSEK compared to 27 MSEK in Q3 2015. Gross margin was 37% compared to 65% in Q3 2014. The lower gross margin was due to a combination of lower software sales in the quarter in Enterprise Solutions and larger sales of hardware to our partners in Korea within education. We expect the gross margin to normalize around 50% in the coming quarters. Operating expenses in the quarter were 48 MSEK compared to 35 MSEK in the same quarter last year. As previously announced the higher operating expenses in 2015 are related to product development with HP,Ink., research and testing of new micro dot thin film solutions for large displays and the development of Anoto LiveTM Services. The combined result of these efforts is a broader portfolio of products that we are now preparing to ship in the coming quarters and a back-end infrastructure for the support of partners and resellers. We are about to realize the vision of a universal platform to enable precision pen input on paper, displays and walls, -from small sticky notes to 24 foot size walls as well as small to ultra-large displays. The advantages of having a single pen technology that works on multiple surfaces are many. The ability to combine paper, displays and walls opens for totally new user experiences, more flexibility and creative freedom, as well as better control of content and data. For manufacturers it means lower overall manufacturing costs and synergies between devices but most importantly better pen performance. We expanded the management team in Q3 with the hiring of senior managers within product management, marketing and sales and to get a stronger presence in Los Angeles and the San Francisco Bay area. Key priorities in the quarter was to work on the overall positioning of a broader product portfolio that now includes products and applications for digital signatures and document data capture, solutions for professional collaboration, brainstorming and project management, precision pen input on small and large displays, as well as hybrid solutions for the combination of digital pens, paper and mobile devices. During the quarter we initiated contact with new potential OEM customers and signed up new distributors and resellers in the US, Germany and France. We tested out a range of new large displays and planned for segmentation of the portfolio into application areas; professional collaboration solutions, architects, design and creatives. We finalized the development of Anoto LiveTM Pen 2 Professional and prepared for mass production of 30,000 pens for the delivery to a large financial services company in Japan in Q4. Our increased working capital need was financed through a 40 MSEK private placement of shares in the third quarter and we also closed the acquisition of XMS Penvision, an innovative Swedish software company specializing in digital writing solutions. The acquisition of XMS Penvision gives us a larger portion of the value chain, flexibility in pricing and a product suitable for sale through larger resellers, as well as a highly competent team that complements our own in-house software development.

OUTLOOK

After a long period of negotiations in parallel with product and business development we finally signed a Technology Licensing Agreement with HP, Inc. on November 5 th . We are very excited about this new partnership and believe HP is the ideal partner to help realize our vision about a universal digital writing platform that embraces user cases across all industries. The agreement contains certain exclusivity rights for HP within product segments for Workstations, a product segment where HP has a dominant market share. The exclusivity is subject to certain conditions including a minimum purchase of products from Anoto over a 4 year period. It is difficult to estimate the future revenue deriving from the agreement, but we expect the agreement to have a significant positive impact on Anoto`s business in the coming years. On November 5 th Anoto signed a share purchase agreement to acquire Livescribe Inc., Anoto partner since 2007, with it’s headquarter in the San Francisco Bay area. The purchase price shall be paid in cash and is based upon an enterprise value of 15 MUSD equal to estimated sales for 2015. On closing, which is expected to take place on November 30, Livescribe will be debt free. The acquisition is another step in consolidating the Anoto ecosystem and to realize synergies in hardware and software development, supply chain and operations, as well as to give Anoto access to additional market channels for online sales and retail distribution. We are working on a new range of products to be launched in Livescribe sales channels in 2016.

Livescribe employs 45 full time employees and contractors, and offers the leading personal mobile companion and application to integrate handwriting into mobile devices. Livescribe allows customers to continue using pen and paper to take both structured and unstructured notes yet instantly make them useful with their favorite applications as they digitize in real-time. Based upon a strong order back log with our partners in Korea and China and large publishing companies within education, as well as the enterprise order in Japan and the planned delivery of 29,000 pens to a large financial services company in Japan we expect continued strong revenue growth in Q4. We expect the strong growth to continue in 2016 with the expected commercial launch of products with HP, the commercial launch of large displays, the addition of new distributors and resellers for We-Inspire, partnering with The Foundry as well as the acquisition of Livescribe. We expect gross margin to normalize around 50%

ANOTO ENTERPRISE SOLUTIONS

Anoto Enterprise Solutions focuses on systems, products and services that target businesses, primarily in the field of forms processing, document management and signature capture. The offering is Pen Solutions which includes solutions for creating a form in digital format, digital processing of handwritten forms and automatic generation of a digital version of a document with handwritten signatures and notes. Anoto has an indirect business model and markets its products through partners, such as system integrators, software developers and IT consulting firms, all of which offer customized solutions with Anoto technology to their customers.

Sales within Enterprise Solutions were MSEK 19 in the third quarter, following 18 MSEK in the second quarter, compared to 31 MSEK in the first quarter when we closed the 11 MSEK sales to Wales Ambulance Trust in the UK. We expect a strong Q4 subject to the delivery of the 37 MSEK order to a large financial services customer in Japan in December. The variance in revenues from quarter to quarter reflects the lack of capacity in sales and delivery and our need to strengthen the partner network. The large deals that we have won within Enterprise Solutions in the UK, Germany, Turkey and Japan lately shows clearly the value that we offer to customers and their need for solutions to close the digital transformation gap that exists. With the recent management hires in product management, sales and marketing we are working on positioning Anoto Enterprise Solutions together with the other business areas within Anoto for a better alignment with the IT industry in general and a more focused partner strategy.


A CESI comment: The Swedish Redeye group speculates that the Japanese customer is Japan Post:

“We know that the record deal in Japan of SEK 37 million was due to a procurement and we also know from CEO statements that it was made with one of the world’s largest financial institutions. Hence we would be surprised if the Japan deal was not a deal with Japan Post, one of Japan’s biggest companies and the largest IPO in 2015 (please note that this is pure speculation).”

http://www.redeye.se/analys/today/anoto-ladies-and-gentlemen-fasten-your-seatbelts


[Q3 interim report continued…]

We want to utilize synergies and the increased awareness we get from new partnerships around a single pen for multiple surfaces and applications for enterprise, SMB and consumers to cover all areas of digital writing; digital signatures, data capture, collaboration, design and creative.

Anoto UK: Q3 was dominated by the successful roll out of 1,700 pens across the Welsh Ambulance Service Trust (WAST). This deployment was carried out across a very large geography to very tight timescales and was a testament to the professionalism and dedication of our delivery team in partnership with Welsh Ambulance IT that this was achieved on time and on budget. This has been widely publicised both within Welsh Government and across the broader UK ambulance community.


CESI comments: Further reading are available here:

https://www.linkedin.com/pulse/welsh-ambulance-services-nhs-trust-deploy-anoto-digital-gittens

http://www.anoto.com/investors/corporate-news/?lang=english&messageId=806788


 

Planning for expansion of the Anoto solution within WAST has already started, with Phase 2 and Phase 3 projects being scoped. Introductions to other senior people within other ambulance services is also planned. Outside of Healthcare we are ramping up activity in identifying larger commercial opportunities and have begun promising discussions with larger “eco system” partners such as OpenText and Salesforce.


CESI comments: The Anoto Creative explanation of “the eco system” for the creative industry:


[Q3 interim report continued…]

Japan: In August a large financial services company in Japan granted a contract to Anoto and its consortium partners for the rollout of 29.000 Anoto Live PenTM 2 Pro with digital writing software. Anoto’s part of the contract is 37 MSEK and is planned to be delivered in December of this year. The customer’s sales force will use Anoto digital pen and paper as an integral part of their new insurance policy sales process. The Anoto digital pens, which will be used to fill in medical and personal information as well as the personal signature, are equipped with a camera for recording personal identification of customers for regulatory compliance. By using this solution, the customer will improve internal process handling by eliminating scanning and re-keying of contracts and will minimize paper consumption.

Sweden: partner Phoniro further expanded their market presence in the Swedish home care market with their quarterly commitment.


CESI comments regarding Phoniro. More info here:

http://globenewswire.com/news-release/2014/04/25/629933/0/sv/Phoniros-H%C3%A4lsodagbok-och-Anotos-digitala-skrivteknik-m%C3%B6jligg%C3%B6r-realtids%C3%B6verf%C3%B6ring-av-data-fr%C3%A5n-patientens-hem-till-sjukhuset.html?print=1


[Q3 interim report continued…]

In July Anoto announced the acquisition of XMS Penvision AB. Established in 1996, XMS Penvision is an innovative Swedish software company specializing in digital writing solutions. Its core product Formidable is marketed through a global network of partners who add value to the platform through a consultative approach with customers seeking a business solution. Formidable is the foundation for Anoto Live Forms, an Anoto Enterprise Solutions application for signatures, document and mobile data capture.


CESI comments: Interestingly, as observed in this video…

…HP was previously involved with Penvision (see t= 3.12 min). CESI speculates that the Anoto AB acquisition of XMS Penvision was urged by HP during the HP-Anoto AB negotiations.


[Q3 interim report, Penvision paragraph continued…]

The company has 10 employees and 2014 revenues were 13 MSEK. The acquisition of XMS Penvision gives Anoto a larger portion of the value chain, flexibility in pricing and a product suitable for sale through larger resellers, as well as a highly competent team that complements our own in-house software development.

South Africa: Lewis, expanded the use of digital pens with 1.500 additional users, based on our partner Objectif Lune’s platform Planet Press Capture. Lewis is South Africa’s single largest furniture brand which sells a range of household furniture, electrical appliances and home electronics.


CESI comments: Interestingly,  there also seems to be other ongoing activities within emerging South African educational technology / interactive white board industry…

Founded in 2012, Eduworks has created ground-breaking, classroom-friendly and learner-centric products that will be transforming the lives of Teachers, Students, Schools and Society.

Eduworks was founded with a vision to promote and boost Mathematics and Science in Schools. By keep the need of South African Education system in mind, Eduworks and HCL Learning did the brainstorming for 3 years and came up with solution- “Digischool”.

Eduworks is a highly innovative and technology driven company revolutionizing the education system in South Africa, dedicated to provide best solutions to the Teachers and Learners. The company is designed to boost the education sector that make learning and teaching easier, more fun, and more effective.

Eduworks is utilizing Anoto AB technology

http://www.eduworks.co.za/products/interactive-whiteboard/

and also via Tstudy as the Symphony pen is also based on the Anoto AB grid pattern (see SOLiD edu link under the Kyowon paragraph below):

http://www.eduworks.co.za/symphony/


[Q3 interim report continued…]

India: we signed a new partnership for the education market which will result in pen and license revenue in Q4 for Anoto. Our partner Trata has started to roll-out our technology into the healthcare market and we expect larger volume roll-out in the coming 6 months.

Korea: our partner ISU Systems extended the partnership and have committed to expand their market presence in the Korean B2B market.

TECHNOLOGY LICENSING (OEM SALES)

Customers within Technology Licensing develop and sell products based on our intellectual property, software, and digital pen products. For many years, Anoto has licensed its technologies to providers of interactive classroom solutions as well as learning aids for children. Productivity tools, such as for note-taking and meeting productivity, are also long-established products in our Technology Licensing segment. Recently, Anoto has established two new application areas through partners: voting solutions and digital design automation. Voting solutions are based on our traditional digital paper technology, while digital design automation solutions help animators and designers unleash the creative power of digital writing with interactive touch displays. Net sales during the quarter were MSEK 35, which is MSEK 26 above the same period last year.

HP

After a long period of negotiations in parallel with product and business development we finally signed a Technology Licensing Agreement with HP on November 5 th . The parties have agreed not to disclose product details or product launch dates at this point in time. The agreement contains certain exclusivity rights for HP within product segments for Workstations, a product segment where HP has a global market share of approximately 50%. The exclusivity is subject to a minimum purchase of products from Anoto over a 4 year period and will, if realized, have a significant positive impact on Anoto`s business in the coming years.

Large Format Displays

Together with partner Optika Display, a subsidiary of Stratacache in the US, we announced the Collaborate 65UHD, a 65- inch large format, 4K LCD collaboration device in Q2. The product won the award for Best Personal Workspace for Creatives at InfoComm in Orlando, US among 950 exhibitors and 40,000 professionals from 100 countries. During Q3 Optika Display (www.optikadisplay.com) has been working on the configuration and testing of the product and preparing for commercial roll-out in close cooperation with its partner Avnet, one of the world`s largest distributors of computer products. Collaborate 65UHD combines the most advanced touch glass and active stylus technology available with worldclass 4K LCD technology.


CESI comments: Videos from InfoComm:

.


[Q3 interim report continued…]

In addition to its partnership with Optika Display Anoto expanded its management team in Q3 with the hiring of senior managers within product management, marketing and sales and started to develop a go-to-market strategy including partnerships with ISV’s, distributors and resellers. We expect a large market opportunity to materialize in the coming months when businesses want to replace AV projectors in corporate board rooms, meeting rooms and classrooms with large format displays as well as other initiatives like the introduction of Microsoft Surface Hub. Our initial market focus will be with customers and partners in creative industries and product design that will benefit from having precision pen input on larger surfaces. During Q3 we initiated contact with new partners and evaluated options to broaden the product portfolio with products in size range 40”-55”.

TStudy We delivered 70,000 pens to partner Pen Generations, Inc. in Q3. Pen Generations did not manage to deliver the pens to customer TStudy China within the quarter and therefore Anoto did not book the profit margin on these pens in Q3. The profit margin, 3 MSEK, will be booked when the pens are delivered to the end customer. In July Anoto signed an amendment to the exclusivity agreement with TStudy Cina Co Ltd. The amendment is an extension to the agreement that was signed on August 20, 2013. The exclusive distribution agreement is for 5 years subject to TStudy purchase of a minimum of 2 million pens over the exclusivity period. The exclusivity does not include applications within voting, census and people registration nor products sold by Anoto’s large global OEM partners.


Info about Tstudy here:


[Q3 interim report continued…]

Kyowon

We delivered 30,000 pens to Kyowon via Anoto partners SOLiDEdu, Inc. and Pen Generations, Inc. in Korea in Q3. The application is an interactive multimedia education solution, connecting digital pen, paper workbooks and tablets, which allows for more efficient learning and better individual progress.


 

More CESI info about SOLiDEdu, Inc here:

https://cuttingedgescienceinvest.com/2015/12/13/anotosolidnetboardsymphony/


[Q3 interim report continued…]

We-Inspire New distributors and resellers were engaged in the quarter in Germany, Singapore and Scandinavia. MSD (the company known as Merck & Co. Inc. in the US) expanded their We-Inspire installations to three locations, with Singapore as their latest addition, to previous Czech Republic and US. Our successful collaboration with this multinational corporation resulted in an invitation for Anoto to a large corporate event (Tech Symposium) taking place in Europe (Prague) and US (Branchburg) simultaneously. Key suppliers were invited to show their solutions in the event. MSD staff from all over the world were able to see and try out the We-Inspire solution live in both locations. Sales into higher education continued to grow with expanded use by the California State University system to now include a three projector solution at California State University, Monterey Bay. Together with The Foundry, (www.thefoundry.co.uk), a leading software provider for animation studios, gaming studios, artists, designers and creative professionals Anoto engaged with leading Hollywood studios and went through successful testing during Q3. The solution “FLIX Wall” is combining FLIX, The Foundry’s software for collaborative visual story development with Anoto’s digital tools. The solution was shown for the first time at Siggraph 2015, Los Angeles in August.


CESI comments: More info about the FLIX wall and the Foundry is found here:

Compare the music in this Anoto/Livescribe link…

…with the “HP” music in this link…

Why do the companies play exactly the same song? A coincidence?Nevermind, it´s kind of excellent…


[Q3 interim report continued…]

Livescribe

On November 5 th Anoto signed a share purchase agreement to acquire Livescribe Inc., Anoto partner since 2007, with its headquarter in the San Francisco Bay area. The acquisition is another step in consolidating the Anoto ecosystem and to realize synergies in hardware and software development, supply chain and operations, as well as to give Anoto access to additional market channels for online sales and retail distribution. Livescribe has invested significant amounts in marketing and product development since 2007 and has not yet been profitable. In the last 12 months they have reduced operating expenses and headcount significantly. Anoto considers the timing of the acquisition to be good and the risk related to integrating the business with Anoto to be low. We are working on a new range of products with a significant revenue potential to be launched in Livescribe sales channels in 2016. Livescribe employs 45 full time employees and contractors, and offers the leading personal mobile companion and application to integrate handwriting into mobile devices. Livescribe allows customers to continue using pen and paper to take both structured and unstructured notes yet instantly make them useful with their favorite applications as they digitize in real-time. The product portfolio consists of the Echo Smartpen that is positioned as a PC/Mac companion and has built in audio recording and paper replay functionality and the Livescribe 3 Smartpen that is designed to be a mobile companion for smartphones and tablets. Livescribe has a global footprint and generates approximately one third of its revenue outside of the U.S. Livescribe has partnered with providers of leading note-taking, cloud and collaboration solutions such as Microsoft’s OneNote, Evernote, DropBox and Salesforce to ensure that the notes generated with Livescribe simply and easily integrate with these third-party applications. Some examples of use cases are a feature which if enabled automatically imports users’ written notes into Evernote or OneNote or productivity enhancing features enabling imports into Salesforce. The technology can also “bring written words to life”, enabling phone numbers to be dialed with a pen touch to paper or a written address located on mapping applications. Furthermore, APIs are available to enable development of any type of customized applications to take advantage of Livescribe’s capabilities. The Company goes to market via online retailers, traditional retailers as well as a direct-to-consumer channel. The Company has a strong online presence with Amazon and a retail footprint of approximately 2,000 stores. The retail footprint includes Best Buy, Softbank, Sprint and T-Mobile. Currently Livescribe is compatible with iOS and Android. The LS3 was initially launched only on iOS to leverage Bluetooth LE and capture the high end US user base.


CESI: More info about the Livescribe 3 Smart pen (=LS3)

The LS3 has also topped the charts:

http://www.ebay.com/gds/Top-10-Digital-Pens-/10000000204976240/g.html

http://www.houghlawfirm.com/gadget-review-livescribe-3-smartpen/

http://digital-pen-review.toptenreviews.com/

“The Livescribe 3 Smartpen may look and feel like a standard pen, but it does much more. This digital pen converts your handwritten notes and sketches to digital copies and it even captures audio. The Livescribe 3 is the best digital pen and it will change the way you take notes and will help you get organized. It has an outstanding battery life of 14 hours and includes great apps that complement your smartphone, tablet or computer. Together, these characteristics earn it our Top Ten Reviews Gold Award for best smart pen.”

http://www.lifehack.org/articles/technology/8-reasons-why-livescribe-is-the-best-tool-for-taking-digital-notes.html


[Q3 interim report continued…]

Android compatibility, launched in August 2015, has significantly expanded the Company’s target market and use cases while broadening the appeal across price bands. Historically Anoto has a technology licensing agreement with Livescribe and received a royalty of approximately 6% of Net Sales Value based upon Livescribe sales. Post-acquisition Livescribe will be fully integrated with Anoto Group as a wholly owned subsidiary.” [end of Q3 interim report quote]

Further reading:

A CESI patent compilation:

Infact, HP has already patented Anoto technology, read more…

https://cuttingedgescienceinvest.com/2015/07/06/anoto-ab-in-recent-patent-applications-a-cesi-compilation/

CESI in speculation mode:

https://cuttingedgescienceinvest.com/2015/12/16/anotojust-forms-anotocimanotechfoxconn/

Interesting new Anoto AB thread at the tabletpcreview forum…

“Can you imagine Wacom or N-Trig or Lenovo having the basic human consideration of climbing out of their ivory towers to actually communicate to their users like this in such an unguarded and straight manner? It’s a breath of very fresh air after a years-long diet of silence and spin.”

http://forum.tabletpcreview.com/threads/anoto-optical-stylus-tech.68573/

More interesting quotes from the tabletpcreview forum…

“And yes, there has been lots of backslide in terms of development in areas I would have liked to have seen. eInk is really cool, and I am disappointed that it has been dropped so heavily. I was hoping for full-colour reflective displays with super-fast response times to be available.., around now, actually.

PixelQi was going in the right direction. But it died.

But things are not all that bad. Five years ago, there was Wacom or nothing, and Tablet PCs were stagnating. Now there are a lot of options, more than I would have predicted, with a lot of new ones on the horizon.

I sent an email to Anoto the other day asking them to please consider developing their stylus toward a thinner, less awkward design. (Anoto developed the stylus tech for that huge, 21″ Panasonic Toughpad). They responded quickly and briefly, but were extremely polite and positive regarding my comments. I’ve never heard back in such a way from.., anybody in the industry before.

I’m looking forward to seeing what HP produces with their tech. I think they could be a really exciting new player, and I hope there’s some overlap with my interests as an illustrator.”

http://forum.tabletpcreview.com/threads/thoughts-on-pen-computing-in-2015.68321/

Scalable has OEM and marketing partnerships with many top tier projector brands, component suppliers and integrators.  A partial list of partners showing Scalable’s auto-calibration at InfoComm this year include: Anoto , Da-Lite, NEC, Ricoh, Sony and Vivitek.

http://www.scalabledisplay.com/company/news/scalable-display-technologies-announces-infocomm-participation-eight-partners

THE INTERACTIVE WHITBOARD MARKET

Global Stylus Pen for Interactive Whiteboard Market 2015-2019

Obviously, Anoto AB is active within the interactive whiteboard industry (boards with grid-pattern). Therefore, this recently published forecast is very much embraced by the Anoto share holder:

http://www.prnewswire.com/news-releases/global-stylus-pen-for-interactive-whiteboard-market-2015-2019-300196703.html

Note: Whiteboards are only one of many Anoto AB business areas…

A few examples of providers of Anoto technology:

http://www.eduworks.co.za/products/interactive-whiteboard/

http://www.casio-intl.com/asia-mea/en/projector/whiteboard/ya_w72m/


 

Washington based Tandem Conglomerate:

“Exporting Korean educational systems across the world”

About Tandem Conglomerate:

Tandem Conglomerate is an Information Technology solutions provider with extensive expertise in a wide range of technical domains. From project management to database design and administration to application integration, we have the skills and experience to help your company reach its IT goals.

Our resources are dedicated and highly motivated. We are committed to making your organization or company more successful. With experience in a variety of industries, from telecommunications to government, and wide-ranging technical expertise, we have what it takes to help you get where you want to be

Thus, the Tandem Conglomerate promotes Anoto AB technology:

http://tandemconglomerate.com/tstudy/

http://tandemconglomerate.com/tstudy/symphony

http://tandemconglomerate.com/tstudy/whiteboard


 

Note taking marrying pen with paper.

An interesting blog post by Brian Friedlander highlighting Livescribe and Evernote:

http://assistivetek.blogspot.com/2015/12/note-taking-marrying-pen-paper-with.html?_sm_au_=iPHNkrrsRstqvTF6


 

Healthcare (another single example…)

According to a National Health Interview Survey, 20.6 million American Adults age 18 and older reported experiencing vision loss. Visions loss refers to individuals who reported that they have trouble seeing, even when wearing glasses or contact lenses, as well as to individuals who reported that they are blind or unable to see at all

American Printing House for the Blind (APH) is the world’s largest nonprofit organization creating educational, workplace, and independent living products and services for people who are blind and visually impaired. Recently, the company announced (and is currently providing) a new product: A modified Livescribe/Anoto AB pen…

“NEW! Interactive U.S. Map with Talking Tactile Pen

1-01150-00 — $259.00 + shipping

Optional Item

Stereo Headphones with Ear Cushions and Volume Control
1-18986-01 — $14.50

The Interactive U.S. Map with Talking Tactile Pen is a fun, dynamic learning tool for accessing information about the 50 states!

The Interactive U.S. Map’s combination of tactile, visual, and audio feedback contributes to a versatile learning experience that allows for independent, self-guided study by visually impaired and blind students and adults, as well as by sighted peers.

The Talking Tactile Pen consists of a non-writing stylus, a tactile Power button, an audio jack, and a micro-USB connector (for recharging the pen after long periods of use). The audio content can be heard through the pen’s tiny speaker, however, standard headphones (headphones sold separately) or external speakers can provide better sound quality for the synthetic speech and sound effects.

The pen serves as a personal “tour guide” that gives the reader information about each location visited on the map via multiple layers of audio recordings. The reader is allowed to “drill down” layer by layer via consecutive pen taps to learn about each state.

17 Pen Layers Include: State name; State abbreviation, State capital; Ten largest cities; Surroundings (land & water); Land area, water area, state water percentage; Highest point (elevation); Major rivers; Population estimate; Statehood year; State nickname; State symbols (bird, flower, tree, and song title); State motto; Famous people; Points of interest; Interesting facts; Spelling of state name

Includes

      • Foldable tactile/large print map of the United States
      • Modified Livescribe™ Echo™ Smartpen with audio content, 3.5mm headphone jack, and mini-USB port
      • USB charging cable
      • Storage pouch for pen and charging cable
      • Carrying box to store components
      • Large print instruction booklet
              • Braille instruction booklet – UEB Compliant

Livescribe™ is a trademark of Livescribe Inc. The Talking Tactile Pen is a modified version of the Livescribe Echo™ smartpen.”

CESI expects that additional specific Anoto pen applications within education and healthcare soon will follow. 

Original link here (scroll down a few posts)


End quote:

This blog post could be defined as an update to the first CESI Anoto blog post:

https://cuttingedgescienceinvest.com/2015/07/12/anoto-an-ongoing-historical-milestone-turnaround-in-the-swedish-micro-cap-stock-market/

A serious near future share prediction for a company like Anoto AB is almost impossible. Insiders have recently purchased Anoto AB above 1 SEK and therefore CESI is ridiculously bullish ahead of 2016. And again, according to the recently published Anoto prospectus: Anoto AB claims no further capital demand from share holders in the fourthcoming 12 months.

Best regards, CESI

The author, Cutting Edge Science Invest, is a long term Anoto share holder. Cutting Edge Science Invest can not guarantee, or take into accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. 

 

 

 

 

 

 

 

When the share price plunged after the November 27 2015 Q3 report, CESI quickly purchased Axon kids AB shares, despite reported lower revenues SEK 4.7 million (6.1), and negative result, SEK -1.1 million (-0.8). Why? Well, a number of new distributors have very recently been contracted. CESI is convinced the facts stated below will have a major near future impact…
.
“In Q3 we have been focused on securing agreements with distributors in key strategic markets. Previously, we have pursued sales activities in these markets without distributors, whitout potential for rapid growth and expansion that is our goal. In the short term, this strategy change has had a negative impact on sales for the period due tot that deliveries to these areas has been offset in time but we are now looking forward to capitalize from this work. Above all, I am delighted to see that we can reach agreements with major distributors and markets, which ensures that we have taken us to the next level and that the Swedish car safety thinking regarding rearward facing has gained momentum in the world [CESI: Read Swedish tradition and long term Swedish development within Child car safety technology]. When I was involved during the Axonkids business launch in 2009, we did not believed that the opportunities outside the Nordic countries would be as big as they currently are. For me, this is a fantastic realization. For the remainder of the year, with the new distribitors out on the field, the outlook for a good year end outcome, appears very positive” (edited and translated by CESI, reference link to quote and Q3 interim report in Swedish here!)
.
In Q3, Axonkids has signed an agreement with a new distributor, Kool Trade, an UK and France distributors. Kool Trade is one of the three largest distributors in child and infant industry for the region, reaching over 1,700 stores with its sales force. Initial orders were directly obtained (contracts of about SEK 1,000,000) which shows the market size and attractiveness of the products.Kool Trade, founded 1983, is a reputable company and one of the strongest distributors in the market with strong brands. Babyjogger, 4moms and Mychild, being a few portfolio examples. According to the latest metrics from 2012, the market for children’s car seats in the UK alone is worth 1.8 billion and subsequently has increased sharply as interest in more expensive products such as rear-facing child seats have grown in the regional area.To these numbers, the France market numbers should be added and these are approximatelt equivalent.
.
In Q3, Axonkids secured CCC approval for its products in China. In September 2014, CCE certification was introduced as a legal requirement for Chinese children car seats! The CCC approval is China’s equivalent to the European ECE and with the introduction, the Chinese government intends to assure the quality of the car seats that reach the market. Because of uncertainties in the market, this is an important step for Axonkids. The certification proves that the Axon kids AB products are of high quality and secures opportunities for a continued and expected expansion in China.
In Q3, Axonkids signed an agreement with the EKgroup. EKgroup access the chain stores Happy Baby and Probaby. Furthermore, the EKgroup access another 100 independent stores in Germany and also the Switz- and Austrian store chain Baby Rose. Now, Axonkids will reach all these shops with their product family. Ekgroup has a turnover of approximately SEK 2 billion and in recent years, the EKgroup has expanded greatly.
..
In Q3, Axonkids participated at the Kind & Jugend trade fair in Cologne, which is the largest fair in Europe on child and baby items and a meeting point for all the major manufacturers and buyers in Europe. Axonkids distributors for all markets respectively also attended to meet its key customers and highlight product catalouge updates.
..
In Q3, the company continued their focused efforts to increase the revenue margins of their products. The manufacturing process is screened in respect to cost savings.
..
In Q3, two new booster seats have been launched: The isofix seat “Apollo” that fills a segment gap, as well as “Metro”, which is an innovative new booster seat that grows with the child in both length and width. However, the first deliveries of these took place after the end of the Q3 period.
..
Events after the Q3 period
..
Axonkids has announced Leto as a new distributor for Greece. Leto is highly reputed and one of the largest distributors of the current Greece market. Leto has placed its first container orders and a sales conference will be arranged in Athens in January 2016.
..
After the period, Axonkids participated at the exhibition in Italy with Real Baby, where the entire product range was demonstrated. To Axon kids AB delight, the National Italian television recorded a reportage about rearward riding as well Axonkids products.

Most recently, Axonkids has implemented a new share issue which was subscribed to nearly 200%. The capital will be used to secure global market shares of the business.

Regulations call for all car seats sold in China to be certified, reference link:

http://www.cctv-america.com/2015/08/31/regulations-call-for-all-car-seats-sold-in-china-to-be-certified#ixzz3slvuMwu0

“According to the 2014 China Child Safety Seat Market Report issued by Market Research, the demand for child safety seats in China will post a compound annual growth rate (CAGR) of 68 percent from 2014-2017.

In conclusion, the UK based ICSC (In car safety centre) quotes: “Axkid may be considered the new kids on the block” and CESI share this statement. Most interestingly, we all know that kids tend to grow fast 😉

And. Congrats Axon kids AB /  minikid for the top grades in the recent Swedish best in test (see link below)!

http://www.xn--bst-i-test-q5a.se/Bilbarnstolbäst-i-test.se/Bilbarnstol 

Future triggers: New markets. The CEO has mentioned a number of countries, Russia and US included.

Best regards, CESI

The author, Cutting Edge Science Invest, is currently an Axon kids AB share holder. Cutting Edge Science Invest can not guarantee, or take into accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. 

 

stora a

Miris Holding AB: CESI very much appreciated the presentation by Ulf Boberg. A turnaround case around the corner? Time will tell!

http://miris.se/

Nanologica AB: Difficult to grasp risk/reward. CESI believes the parallel strategies approach is necessary and relevant: High quality silica business aimed for non-preparative (i. d. analytic) chromatography in parallel to development of a high risk drug delivery platform. On the upside: One single drug delivery success equals “the sky is the limit”…

http://nanologica.com/

Nilsson special vehicles AB: An easily digested business. The representatives delivered a solid teaser and seem eager to deliver!

http://www.nilsson.se/

Karessa AB: A solid presentation and an interesting algea approach…

http://www.karessa.se/en/home/

AHA World AB: An embraced presentation with the theme “AHA World AB, black-belt in customer relations”. Interestingly, the share price surged (+ 28% intra day).

http://www.ahaworld.se/

Raybased AB: Today´s most interesting company. CESI is convinced the company and “the internet of things” will attract a lot of interest from customers as well as investors. CESI seriously considers to become a share holder.

“Raybased implements IoT in commercial real estate by developing and selling an open wireless system for advanced building automation. The system makes it possible to monitor, control and optimize all electrical functions in a building, such as heating, ventilation, lighting and secure systems. The system’s potential is far greater than that, and only the human imagination is the limit.”

http://www.raybased.se/

CESI was especially impressed by the Q&A

(t=2o min, video link below in Swedish)

http://aktiespararna.fnf.nu/player/#/77/643

Nexam Chemical Holding AB develops, manufactures and markets crosslinking chemicals for the polymer industry. The company is listed on NASDAQ OMX First North (ISIN SE0005101003, ticker symbol: NEXAM). 

CESI: A very interesting quote from the brand new Nexam patent application background section:

“PEPA, PETA and MEPA, the triple bonds will eventually react and cross-link to provide a cross-linked polymeric material, whereby improving the heat and chemical resistance, as well as the mechanical strength of the material. Using PEPA will require a heating to at least 350°C to cure the PETI (cf. US 5,567,800) and even somewhat higher, i.e. 380 to 420°C, to cure PEPA end-capped polyimides (cf. US 5,493,002).

However, for some applications such a high curing temperature profile may be considered a problem. For instance, the properties (such as the coefficient of thermal expansion) of flexible polyimide films, having a melting temperature below 350°C, may be improved via cross-linking. However, the high temperature (above 350 °C) needed to initiate cross-linking will make the processing impossible. Further, also for economic reasons the possibility to lower the curing temperature and/or increase the curing rate may be advantageous. Often such polymers are still to be processed above 300°C. PEPA may accordingly not always be replaced with an alternative cross-linker, e.g. MEPA, in applications requiring a lower curing temperature or a higher curing rate. Further, PEPA has the advantage of withstanding processing temperatures up to and even above 300°C without curing being initiated.

A process for modifying the curing temperature profile of PEPA-based system would thus be highly interesting, as it would allow for processing of “inert” acetylenical polymers, which subsequently may be activated and cured at temperatures tolerated by the molecular backbone.

As already described also acetylenical cross-linkers for thermoplastic polymers are available in the art. Thermoplastic polymers are processed in a wide temperature span above their softening point (Tg or melting point), but below their degradation temperature. It is often desired to affect the thermal curing behavior within this window to mirror/suit the process or parts manufacture. Especially, semi-aromatic polyamides end-capped by PEPA, as well as PA46 and PA66 end-capped by PEPA, represent types of acetylenical polymers, which would benefit from an altered thermal curing behavior.”

 

CESI: A very interesting quote from the brand new Nexam patent application Embodiments section:

“Upon continuously increasing the temperature of a composition comprising an acetylenical cross-linker, such as a polyimide end-capped with PEP A, the carbon-carbon triple bonds in the system will eventually start to react with each other. The cross-linking is believed to include a sequence of exothermic reaction steps, including chain-extension, probably due to ethynyl-to-ethynyl reactions, of the material and subsequent cross-linking, probably due to pericyclic reactions, e.g. Diels- Alder reactions and ene -reactions. Typically, the curing temperature profile may be studied by differential scanning calorimetry (DSC), as well as melt rheology measurements. DSC will provide information regarding the temperature required to initiate curing, while melt rheology will provide insight into the curing onset as well as into the degree of chain-extension and cross-linking, as such reactions will increase the viscosity of the material.

The melt viscosity of a polymer affects its processablity. A too high melt viscosity will make it difficult to process the composition, as the shear forces to generate sufficient flow will be extremely high. Thus, polymers are often processed at temperatures well above their softening point (glass transition temperature – Tg – or melting point – Tm). An increased processing temperature results in lowered viscosity, which may facilitate processing. However, the degradation temperature for the polymer of concern sets an upper limit for the processing temperature. Thus, polymers are processed at temperatures in between the softening point and the degradation temperature.

In processing and curing of compositions comprising an acetylenical cross-linker, not only the temperature required for initiating curing, but also the curing rate is of interest. Provided that the curing rate not is too high, some curing may be tolerated already during processing without rendering further processing, such as extrusion and injection molding, impossible.

As can be seen in FIG. 1, a peak corresponding to exothermic heat flow, i.e. curing, is seen upon continuously increasing the temperature of an oligomer end-capped with an acetylenical cross-linker. The exact shape of the peak, e.g. the temperature at which cross-linking is initiated and completed, as well as the temperature curing maximum, will depend on the temperature ramping profile applied. While the temperature at which cross-linking is initiated in principle is constant, the shape of the exotermic peak will, at least partly, be affected, by the temperature ramping profile applied.

The curing temperature profile of different acetylenical cross-linkers is different. In general, the chemical groups next to the carbon-carbon triple bond will through electronic and steric effects determine the curing temperature profile.

Furthermore, the mobility of the system of which the acetylenical cross-linkers is part, will affect the curing temperature profile, but to less extent. As can be seen from FIG. 2 the curing temperature profile of low molecular weight PEPA end-capped phenylene diamine, a model system for studying curing of PEPA, is similar to the one of oligoimide end-capped with PEPA (cf. FIG 1).

The present inventors have surprisingly found that combination of PEPA on one hand and MEPA on the other provides systems having another thermal curing behavior than the two individual cross-linkers if cured separately (cf. FIG 3). While the onset temperature for the curing is approximately the same, DSC-scans indicate that the curing mechanism is another. Especially, the curing of PEPA is completed at significantly lower temperatures and the curing of MEPA, from one perspective, seems to require higher temperatures to complete. The relative molar amount of the two cross-linkers will affect the thermal curing behavior.

Further, as can be seen from FIG 4b exchanging the cross-linker on the polymer does not affect the ultimate melt viscosity. However, the onset of the viscosity increase is shifted and the time required to attain the ultimate viscosity is prolonged. The somewhat higher initial viscosity for the PA-MEPA compared to the PA-PEP A indicates that some curing of MEPA has taken place already during compounding of PA-MEPA. FIG 4c shows that it is not as effective in this case to exchange the cross-linker of the oligomer/molecule as it retards the reaction too much for the specific example. The high initial viscosity for the PA-MEPA//HD-MEPA compound indicates that curing of MEPA has taken place already during compounding of the system.

As can be seen from Fig. 5, it was possible to affect the curing rate also in an acetylenical, semi-aromatic polyamide, i.e. PEPA end-capped PPA. Replacing HD-PEPA with HD-MEPA increased the curing rate (measured as pressure build up) of PPA-PEPA. Replacing also the end-capper, i.e. PEPA, with MEPA resulted in vary rapid build up of pressure, indicating that curing of PPA-MEPA//HD-MEPA at 340°C is rapid process.

Thus, it has been revealed that combined use of two distinct acetylenical cross-linkers, having different thermal curing behavior, provides a way of altering, and in some applications even tuning, the thermal curing behavior for a given polymer.

Accordingly, such combinations may be used to provide system with cross-linkers having thermal curing behavior adapted to suit that processing temperature and degradation temperature of concern.”

The full patent Source link is attached here

 

Best regards, CESI

The author, Cutting Edge Science Invest, is a Nexam Chemical share holder. Cutting Edge Science Invest can not guarantee, or take into accountability, the content of truth and accuracy of the information in this article/post. Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered. Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”. The article/post does not contain professional investment advice. 

This Nexam article primarily aims to highlight the improvement of material properties gained by applying Nexam cross-linking technology:

“Nexam develops crosslinkers that fit optimally into different kinds of polymers including polyimides, nylon, polyethylene, polypropylene, polycarbonates and PEEK. The technology, which is based on previous developments carried out by NASA, has now been further developed and new patents have been applied for. The new crosslinkers result in improved processing properties such as controlled melt behaviour and they can be tailored to work with almost any polymer.

NEXAM PLASTICS, STRONGER AT ELEVATED TEMPERATURE, EVEN WHEN DILUTED WITH FILLER

“Formerly, fillers were used predominantly to cheapen end products, in which case they are called extenders. Among the 21 most important fillers, calcium carbonate (CaCO3) holds the largest market volume and is mainly used in the plastics sector.[2] While the plastic industry mostly consumes ground calcium carbonate the paper industry primarily uses precipitated calcium carbonate that is derived from natural minerals.” Source link, Wikipedia

Effect of temperature and filler. A few CESI conclusions:

Nexam demonstrates an example that a plastic´s tensile strenght is lowered ( – 33 %, at 210 °C ) when dilued with 60 % (mass weight) of calcium carbonate (CaCO3). However, for the same plastic crosslinked with 2.5 % of Nexam cross-linker, the plastic´s original tensile strength is retained even if “diluted” with ~60 % (mass weight) of CaCO3 (!)

Furthermore, in the same example at 210 °C, the cross-linked plastic (containing 2.5 % of Nexam cross-linker) is stronger compared to the original plastic (not containing Nexam cross linker), even if diluted with 10 % CaCO3 (+>40 MPa tensile strenght versus +>30 MPa tensile strenght in the highlighted example).

Source link (t =19:20, in Swedish): ref: https://redeye.solidtango.com/video/nexam-smabolagsdagen-2015

NEXAM CROSS LINKED PE PIPES vs PE100 PIPES

– IMPRESSIVE SLOW CRACK GROWTH DATA

PE100 is an ISO designation for a grade of pressure rated PE material. The designation means simply that the material is polyethylene, PE, and that the material qualifies for a 10 MPa (100 bar, 1450 psi) MRS rating at 20°C Source link, wlplastics.com 

For PE pressure piping materials, slow crack growth (SCG), is the long term failure mode. SCG is not brittleness. Stress such as internal pressure causes cracks to develop and grow through the pipe wall from stress concentrations Source link, wlplastics.com 

Japan Polychem Corporation (wholly owned by Mitsubishi Chemical Corporation) claims that:

“Polyethylene, especially PE100 Resin has been steadily increasing its use in pressure pipes for water and gas based on its superior property balance. Of all the properties required for PE100, when we consider the defects on the pipe surface and the stress concentrations on the fitting of complicated shape, the most important for the lifetime of pipe should be the resistance to Slow Crack Growth (SCG). Recent requirements for cost reduction by no-dig or no-sand installation have been enhancing the need for the improvement of SCG resistance”

And:

“Polyethylene(PE) has already established its position as a major material for many pipe applications,
such as gas and water distributions (pressure pipes), sewerage, drainage and conduit, based on it’s
excellent characteristics such as light weight/ flexibility for easy handling and chemical stability for
corrosion resistance. The strength of PE pipe line system to the earthquake according to its ability to
follow the ground movement and excellent fusion-welding strength is now well acknowledged. In
Japan, there have been several strong earthquakes with the magnitude of more than 6 such as the
Great Hanshin-Awaji earthquake (Magnitude 7.3, 1995) and the Niigata-ken Chuetsu earthquake
(Magnitude of 6.8, 2004). Although there were a lot of damages observed to iron, steel and PVC
pipes in those earthquakes, there was no report of the damage to the PE gas and water pipe line
system. Therefore, the usage of PE pipes to the lifelines like water and gas is increasing year after
year also in Japan.”

PE for pipes, especially PE100 resin, has been steadily increasing its use all over the world and is
expected to grow further. Together with the spreading of PE100 resin, the requirements for cost
competitive installation methods like no-dig or no-sand methods are also increasing. In these
installation methods, however, we can not avoid the surface defect by scratching and the
concentrated local stress by stone or something like that in the backfill material. These defect and
stress concentration can give the pipe more stress than anticipated and may cause the failure of the
pipe, if the material’s resistance to stress crack or slow crack growth (SCG) is not strong enough.”

Source link: http://www.pochem.co.jp/jpe/reference/pdf/20061113-1.pdf

In the most recent Nexam presentation, the CEO Anders Spetz presented that SCG for PE100 pipes containing Nexamite equals a 307 % improvement compared to PE100 pipes containing no Nexam cross linker (reference). 

Source link (t =19:40, in Swedish): ref: https://redeye.solidtango.com/video/nexam-smabolagsdagen-2015

NEXAM vs PE100 PIPES

– IMPRESSIVE HYDROSTATIC LEAK TEST DATA

Hydrostatic testing is universally known and accepted as the primary means of demonstrating the fitness for service of a pressurized component (Source link, Plastic Pipe Institute)

  • An indoor video example of a hydrotest

https://www.youtube.com/watch?v=dG-FQvjn9C0

  • An outdoor video example of a hydrotest

https://www.youtube.com/watch?v=dG-FQvjn9C0

Hydrostatic leak tests typically use cooler liquids so the liquid filled test section will tend to equalize to a lower temperature near test liquid temperature. Source link, Plastic pipe 

In the most recent Nexam presentation, the CEO Anders Spetz also presented results from a hydrotest. PE100 pipes containing Nexamite equals a 320 % improvement compared to PE100 pipes containing no Nexam cross linker (reference).

Sourcelink, Nexam at småbolagsdagen 2015 (In Swedish, t = 19:40)

PE pipe status note, Nexam 2014 Annual report: Other promising partnerships Other promising partnerships include PE applications (polyethylene), in which full-scale testing will be conducted by pipe manufacturers during the first six months of 2015. The aim is to develop a manufacturing process using crosslinkers from Nexam Chemical that results in plastic pipes with greater stability. This would enable the manufacture of pipes in larger diameters, while maintaining production speed

NEXAM POLYIMIDES

Du Pont:

“There is a need for a new method for making polyimide nanowebs with suitable mechanical properties from high concentration solutions; polyimide nanowebs comprising nanofibers of a cross-linked polyimide; separator comprising polyimide nanowebs; and multilayer articles and electrochemical cells comprising separator.”

In  this patent, Du Pont demonstrates that mechanical and electrical properties were improved using the Nexam products EPA (ethynyl phthalic anhydride) and PEPA (4-phenylethynylphthalic anhydride)! Additionally, Du Pont specifically states that PETA was obtained from Nexam (WO 2013/181333 A1; E. I. DU PONT)

Addition Curable Polyimides – Summary from the Nexam – Evonik Webinar

Processability

•Increased coating build and / or line speed
•Removal of solvents
•Controlled thermal activation

Properties

•Retention of properties at high temperatures
•Solvent resistance
•Low void content

Source link: Nexam Evonik Webinar.

IMPORTANT NOTE : Webinar available only until September 24, 2015 (!)

A new Nexam resin: NEXIMID® MHT-R in short Source link

Nexam Chemical introduces a new ”easy to process” resin that is primarily intended for use within the aerospace industry. Other areas, such as machine, general industry and transport sectors will also benefit from this high property material. The new resin, NEXIMID® MHT-R, is intended for small to medium sized production volumes of high-temperature composites by Resin Transfer Moulding (RTM). Temperature properties such as Tg is superior to most other materials and polyimides on the market.

  • Binders for fixation of fibre preforms:
    Reactive binders for fixation of a fiber pre-form are available. The binders are NEXIMID® A57 and A58.  A57 is a mono functional binder that reacts with the resin and A58 is a bi functional binder. Each binder melts at a specific temperature and upon cooling glues the pre-form together. During processing the binders react with the resin upon curing. The reaction is an addition reaction and no volatiles are formed during the process.

NEXAM POLYAMIDES

From Nexam patent US8492507 B2 Source link 

“Polyamides are recognised as exhibiting good abrasion resistance, low friction coefficient, good resistance to heat and good impact resistance. Polyamides are in dry conditions good electrical insulators. Polyamides are typically hygroscopic and absorb water. This absorption will change some properties, such as insulation, tensile strength and stiffness. The impact resistance is increased by a higher content of water.

There are, despite the fact that polyamides have excellent physical and chemical properties and for a long time have been widely used for resins, films, fibres, moulded articles and so on, demands for improved and/or modified properties, such as increased operational temperatures and retained properties during and after exposure to for instance harsh temperature, atmosphere, mechanical and radiation conditions.

It has now quite unexpectedly been found that an acetylenic polyamide can be obtained by incorporation of one or more carbon-carbon triple bonds into a polyamide, for instance as endcapping group(s), as pendant group(s) along the molecular backbone and/or as group being part of the molecular backbone. The acetylenic polyamide of the present invention meets said demands for improved and/or modified properties exhibiting an excellent combination of toughness, resistance and thermooxidative stability” […]

The purpose of the present invention is to modify the mechanical properties of polyamides and compositions comprising polyamides. Among these modifications of properties can be mentioned: higher softening temperature, higher E-modulus and improved ability to counteract creep strain.

Note: E-modulus = Elastic modulus =  A number that measures an object or substance’s resistance to being deformed elastically (i.e., non-permanently) Source Link, Wikipedia

RECYCLED PET – POTENTIAL NEXAM CHEMICAL IMPACT IN SECOND GENERATION PROCESSED RECYCLED PET:

PET bottles exposed to UV light negatively impact next generation bottles – Plastic Engineering

http://www.plasticsengineering.org/News/article.aspx?ItemNumber=22506

Described above is a “storage issue” of PET bottles produced from recycle material. In fact, Nexam might potentially already have principal solutions at hand to this issue, both in respect to chain extenders (= PBO = “repair agents”), UV protection during second generation production of recycled PET (see bold font below) and the original and new Nexam cross linking approaches (see bold font below). One example:

  • Nexam patent US20140018460 – COMPOSITIONS FOR IMPROVING POLYESTERSPublication Date:16.01.2014

SUMMARY

“Accordingly, the present invention preferably seeks to mitigate, alleviate, eliminate or circumvent one or more of the above-identified deficiencies in the art and disadvantages singly or in any combination and solves at least the above mentioned problems by providing a method for altering the melt characteristics, such as the melt strength, of a polyester.” […]

“According to an embodiment, also blowing agent, such as carbon dioxide, nitrogen, alcohols, ketons, methyl formate, hydrofluorocarbon a hydrocarbon, e.g. n-hexane, iso- or n-pentane, cyclopentane and n-heptane, or a gas mixture thereof, an expanding agent, a foaming agent, nucleating agent, such as talc, kaolin, silica gel, and TiO2, a flame retardant, such as a halogenated, charforming (like phosphorus-containing) or water-releasing compound, a plasticizer, a lubricant, such as an ester of a fatty acid, an impact modifier, insulation modifier, a pigment, a filler, an antioxidant, a UV-stabilizer and/or a color improver is melt mixed with the polyester” […]

“The cross-linker and chain extender comprising at least two groups being able to react with a carboxy group and a phenolic hydroxyl group will act as chain extender, e.g. by connecting terminal carboxy groups of two separate polyester molecules, as well as cross-linker, e.g. by connecting non-terminal pending carboxy groups of two separate polyester molecules. The molar ratio of polyester and tetracarboxylic dianhydride, will affect the number of non-terminal pending carboxy groups being present and hence also the degree of cross-linking. Further, the cross-linker and chain extender will act as water/acid scavenger, as any water in the material will result in hydrolyzed polyester generating an acid and an alcohol, these acids can be tide back to the polymers by the cross-linker and chain extender if such is present in the material.”

In fact, the above described cross linking approach is not based on the earlier reviewed and described 2+2+2 cyclotrimerization (the Berthelot reaction). This polyester cross linking approach is based on another type of chemical reaction. If time allows, CESI will describe this specific reaction in a more pedagogic approach that hopefully also can be understood by a non chemist.

Furthermore, the Armacell patent EP 2 163 577 A1 is refered:

“As taught by EP 2 163 577 A1, it is known within the art that a combination of PMDA (pyromellitic anhydride), PBO (1,3-phenylene-bis-oxazoline), and a sterically hindered phenol, i.e. a compound comprising a 4-hydroxy-3,5-di-tert-butyl-phenyl moiety, may be used to improve the properties of PET. The sterically hindered phenols are stated to be believed to act as hydrogen donor, wherein radical scavenger neutralizes the alcoxy or peroxy radicals generated by hydrolytic or thermal degradation, and does thus terminate the chain propagation of degradation processes. It also stated that, by adding sterically hindered phenols, the effectiveness of functional anhydride groups remain, therefore, intact for further upgrading reactions.”

“The present inventors have unexpectedly found that the addition of poly functional compounds comprising at least two non-sterically hindered phenolic hydroxyl groups rather than sterically hindered phenols, as taught be EP 2 163 577A1, improves the PET further. Further, the present inventors have also found that the non-sterically hindered phenolic hydroxyl groups may be replaced or complemented with carboxy groups.”

CESI Conclusions: A or B or C 

  • A: Nexam and Armacell is working closely togheter (= very positive)
  • B: Nexam is fully or partly taking the role as a sheer (successful) innovator in Armacell´s- and other competitor´s core PET research areas thereby securing IP and potential near future business value also within this segment (= positive)
  • C: Nexam aims to independently and additionally capitalize on the invention in PET areas not covered by the current PET foam exclusivity agreement (= positive, exlusivity agreement source link)

Is Armacell planning to purchase PBO (on scale) from Nexam? Was this a key driver for the recent Nexam PBO commercialization? Time will tell.

Best regards, C.E.S.I.

The author, Cutting Edge Science Invest, is a Nexam Chemical share holder. Cutting Edge Science Invest can not guarantee, or take into  accountability, the content of truth and accuracy of the information in this article/post.Thus, Cutting Edge Science Invest requires that a possible reader gather complimentary information if any type of investment in the company described above is considered.

Cutting Edge Science Invest provides personally biased information and at best also “general information and opinions”.

The article/post does not contain professional investment advice.