Svenska Aerogel Reports Q3 2024 Results, Cites New Partnership and Patent Filing

Svenska Aerogel Holding AB (publ) has released its financial report for the third quarter of 2024. During the period, Outlast® Technologies submitted a patent application for a unique temperature-regulating solution incorporating Quartzene®. Following this, Svenska Aerogel was appointed the exclusive supplier for this solution.

The company also announced the finalization of a five-year exclusive supply agreement with Matrix Brands. Negotiations regarding the terms of this contract took place during the reporting period, culminating in the exclusive supply arrangement.

Key events during the third quarter included the launch of the product Quartzene® Z-Slurry, the results of an efficiency program, and a notice for an extraordinary general meeting concerning a share consolidation.

Developments after the quarter's end include Outlast® Technologies launching a new temperature-regulating textile solution and the publication of a scientific article by the University of Gävle, confirming Quartzene®'s energy-saving benefits in building cool roof treatments.

Net sales for the third quarter of 2024 amounted to SEK 0.6 million, an increase from SEK 0.4 million in the same period last year. Net sales for January-September 2024 were SEK 1.6 million, down from SEK 2.2 million in the comparable period. EBITDA for the quarter was SEK -7.0 million, compared to SEK -7.5 million in Q3 2023.