Distribution and direct debit agreement in Vietnam

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June 28, 2021

CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH GROWTH MARKET, COPENHAGEN

TICKER: CBM

Cleantech Building Materials plc

Distribution and collection in Vietnam Aagreement

Cleantech Building Materials plc (“CBM” or the “Company”) is pleased to announce that CBM’s subsidiary, Diamond Wood China Limited (“Diamond Wood”), has entered into a distribution and offtake agreement with Halogreen Corporation ( “HGC”) (the “Agreement”).

Under the terms of the agreement, HGC committed to purchase a significant volume of Accoya® Diamond Wood lumber for sale to manufacturers and project contractors in the Vietnamese market. The initial term of the Agreement is three years.

Diamond Wood enjoys the exclusive rights to manufacture and sell Accoya® timber in China and sales and marketing rights in ASEAN countries, through its technology license agreement with Titan Wood Limited, a subsidiary of Acsys Technologies plc.

Based in Ho Chi Minh City, Vietnam, HGC markets and sells various prestigious brands of building materials for local customers from its laboratory and warehouse in Thuan An city, as well as from its extensive distribution network across the Vietnam.

Commenting, Jason Wang, CEO of CBM and Diamond Wood, said “We are delighted to partner with HGC to expand Accoya’s growth® sales of timber on the Vietnamese market. In Asia, there is a growing awareness of Accoya® brand of wood and its applications for flooring, decks, siding, outdoor furniture, windows and doors. Accoya® the wood has already been marketed in Vietnam for a decade and has been used in many large-scale projects. We anticipate an acceleration of strong recurring sales through HGC’s customer network.

Commenting, Paul Richards, President of CBM, said “With this three-year distribution and pick-up agreement with HGC and several other similar pick-up agreements in China and Asia, Diamond Wood has succeeded in building a strong backlog in anticipation of the company’s plan to build its own Accoya.® manufacturing plant in China in 2021 and 2022.

Comment, Nguyen Anh Nguyen, CEO by Halogreen Corporation, mentionned “Accoya® Wood is a unique high performance building material produced by processing certified sustainable wood through a non-toxic process. It offers overall performance and sustainability benchmarks that exceed those of alternatives that intensively deplete resources and heavily pollute carbon. Accoya® Wood offers Vietnamese consumers an excellent choice for building in a sustainable and environmentally friendly way. ”

THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENT OF THIS AD.

Additional Information :

Cleantech Building Materials plc
Adrian Wyn-Griffiths

[email protected]
+44 20 3934 6630

Keswick Global AG (Certified advisor)

[email protected]
+43 1 740 408045

IFC Advisory Limited (Financial PR)
Tim metcalfe
Zac Cohen

+44 20 3934 6630

The information communicated in this press release is “inside information” within the meaning of article 7 of the Market Abuse Regulation 596/2014.


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