8 January 2018 – I-Tech AB, has responded to strong market demand in South Korea by appointing KhaiEL as the exclusive importer and agency for the unique antifouling ingredient Selektope®.
Under the new agreement, I-Tech will continue to manage sales of Selektope® in South Korea while KhaiEL will exclusively handle imports.
“We are delighted to be working with such a highly reputed company in KhaiEL to strengthen the supply of Selektope to South Korea. This business relationship reflects the need to address increasing demand for our product in South Korea, particularly from the shipyards and many owners running risks of extended idling in conjunction with new buildings and subsequent operations,” says Philip Chaabane, CEO I-Tech AB.
“KhaiEL is very proud to partner with I-Tech to represent the highly innovative Selektope® technology in the Korean market,” says Paul Cho, Marketing Director KhaiEL.
The organic, non-metal compound Selektope® is the only ingredient of its kind used in a marine antifouling application. It is characterized by high efficacy at extremely low concentrations (approx.0.1% w/w), ultra-low leaching and flexibility and can boost the performance of copper-based paint formulations or replace copper completely. Due to the low concentration required, Selektope® does not compromise the chemical structure, color or other cooperative biocides of a marine coating.
KhaiEL GmbH is a chemical company based in Germany and South Korea that has a distribution business and has been developing specialty chemicals since 2007.
I-Tech AB is a Gothenburg-based biotech company that has developed and marketed the unique antifouling ingredient Selektope® since 2006.
For more information on Selektope®, please visit www.selektope.com
Selektope® introduces a unique, bio-repellent mode of action to combat barnacle settlement. By temporarily stimulating the octopamine receptor, the barnacle larvae’s swimming behavior is activated and the organisms are deterred from the hull. These ground-breaking discoveries enable unrivalled power at very low concentrations, yet within the limits of rigorous risk assessments. Selektope® is an organic, non-metal compound with efficacy proven at 0.1% w/w.
About I-Tech AB
I-Tech is a Gothenburg based bio-tech company with global reach, holding all IP and regulatory rights to the antifouling agent Selektope® (generic name, medetomidine). The company is privately held and is supported by Swedish Energy Association, the European Innovation Initiative Eco-Innovation and FP7 SeaFront. The company is a member of the Astra Zeneca BioVentureHub.
Read more at www.i-tech.se
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