Physical attendance by the scientific team at Grasim Industries’ Pulp and Fibre
Innovation Centre in Taloja has recently recommenced, with work on the Collaboration
Agreement now continuing at an accelerated rate.
• During the lockdown periods, Nanollose continued to advance the Collaboration
Agreement with Grasim through the exchange of key technical information.
• Nanollose made a $200,000 strategic investment to acquire a 20% holding in CelluAir,
an Australian company developing an Advanced Filtration Technology based on
• Hainan Yeguo Foods have returned to normal capacity following Covid-19 disruptions
and are working with Nanollose to contribute to scale up efforts of microbial cellulose
to support fibre trials at Grasim Industries.
• The Company continued to progress its intellectual property portfolio of patents and
trademarks, with its second patent now in the National Phase of approval.
• Successful placement raising $660,000, with 12,000,000 new fully paid ordinary shares
issued at a price of $0.055 to sophisticated and professional investors, with net
proceeds from the Placement to be used for the acquisition of Nanollose’s interest in
CelluAir and for working capital purposes.
• To preserve capital, the Company’s directors continued to take a reduction in cash
remuneration over the Quarter, with other cost savings also implemented, resulting
in $354,000 net cash used during the Reporting Period.
• Production of tonne quantities of Microbial Cellulose, which will be shipped to
Grasim’s R&D facility, to further optimise production processes.
• Deliver larger commercial quantities of Microbial Cellulose to Grasim, to facilitate the
production of nullarbor™ fibre for commercial offerings.
• Product trials with leading global brands in the fashion and apparel industry.
• Product trials to commence in nonwoven sector as the Company seeks to
commercialise nufoliumTM for non
Link to ASX Quarterly here