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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - ABIO (THE FIRST EFFECTIVE BIOCIDE-FREE ENVIRONMENTALLY-HARMLESS ANTIFOULING COATING FOR THE BOATING INDUSTRY)

Teaser

Summary

ABIO is the first non-toxic eco-friendly antifouling coating, using only natural ingredients, which is approved for contact with food and drinking water, based on an elastic lactic acid polymer, free of biocides and solvents, it is harmless to the marine and human environment.
We have confirmed the basic effect of ABIO in relevant scenario (TRL6) and we concluded that the effectiveness and durability of ABIO is independent of boat types (sailboat, motorboat and inflatable boat). After a 4-month feasibility study, we are ready to perform the validation of our optimized formulation in 4 different countries and confirm its outstanding potential for the navy market.

Work performed

During the last 4 months, we performed a thorough feasibility study to boost ABIO ready for the marine antifouling market. As part of the Task 1, we evaluated the technical viability of the ABIO project, selecting the most adequate formulation to improve ABIO product features, according to the unmet end-usersâ€™ desires, and designed a complete study to demonstrate ABIO antifouling efficacy of 97% and a warehouse shelf-life to 5 years.
We also evaluated the ABIO commercial feasibility (task 2), including a thorough analysis of the antifouling market and the identification of key potential competitors. We identified the key suppliers, stakeholders, users and distribution partners in our target countries, consolidating the complete ABIO value chain.
Finally, we carried out a deep evaluation of the project financial feasibility (task 3). With all this information, we prepared a realistic business plan to assure the successful launch of ABIO product, including a deep analysis of the potential risks and the design of a contingency plan from both commercial and financial point of view.

Final results

According to our estimations, we will reach 52,5 million â‚¬ revenues by 2026, with the launch of ABIO to the marine market in Q4 2021.
The involvement of marinas in the pilot study and in the future validation study as well as our current distributors network and initiated contacts in several target territories, will allow us to rapidly introduce ABIO in the European marine market, with an estimated sale of 35.000 litres of ABIO in 2022 that will be increased gradually until the amount of 600.000 litres in 2026, with an overall ROI of 17,5.
To reach this number, we will create a qualified and multidisciplinary team, with both technical and marketing profiles, estimating the creation of at least 15 new jobs by 2024.