Nanollose Ltd (ASX:NC6) non-executive director Winton Willesee has demonstrated confidence in the company’s biotechnology strategy utilising tree-free fibres with the purchase of shares in an on-market transaction.
Willesee purchased 170,000 shares worth a total of $14,110 in an indirect interest on January 14, increasing the total number of securities held in that interest to 8 million shares with another 68,504 shares held in a separate indirect interest.
Joint patent application
On January 13, the company filed a joint patent application with Birla Cellulose, Grasim Industries Ltd (NSE:GRASIM) business unit for the production of sustainable fibres, for a high tenacity lyocell fibre made from microbial cellulose.
The patent application, entitled ‘High Tenacity Lyocell Fibres from Bacterial Cellulose and Method of Preparation Thereof’, represents a major advancement over Nanollose’s previous viscose versions of nullarbor™ and nufolium™.
Using the lyocell process, a team of fibre experts at Grasim’s Pulp and Fibre Innovation Centre have produced nullarbor fibre that is finer than silk and significantly stronger than conventional lyocell that is traditionally produced from wood pulp.