Nanollose Limited, a leading biomaterials firm commercializing scalable technology to generate low-impact fibers and fabrics, has signed a binding memorandum of understanding with Industria de Diseo Textil, S.A. (“INDITEX”), one of the world’s top fashion stores. INDITEX is a public corporation that trades on the Madrid, Barcelona, Bilbao, and Valencia stock exchanges as well as the Automated Quotation System. Nanollose and INDITEX have agreed to deliver non-exclusive samples of the Company’s Tree-Free (and/or mixed) nullarbor lyocell arising from the Company’s current pilot program with Birla Cellulose under the terms of the MOU.
INDITEX will be given early access to Nanollose’s materials to determine the potential for use in their various brands during the pilot phase of product development. Nanollose will supply samples of various materials for testing and prototyping, allowing Nanollose to gain valuable commercial feedback while INDITEX will be given early access to the Company’s materials to determine the potential for use in their various brands.