Shares in Alexium International Group Limited (ASX:AJX) have increased 40% since mid-June, but there could be more upside to come with the company announcing today that it has developed a breakthrough technology for thermal management in textile- and foam-based consumer products.
The new PhononTM perpetual cooling technology enhances the rate of cooling by up to 200% over current products and more importantly the cooling never stops.
This breakthrough cooling technology is poised to disrupt markets by continually regulating and removing heat from consumers, creating a constantly comfortable experience.
The patent pending technology establishes a new standard for extended cooling performance, and from an operational perspective it opens up a host of new markets for Alexium, providing a new growth platform for the business.
Highlighting the potential to open up opportunities in new industries, applications are possible across consumables such as medical products, sporting goods, upholstery and outdoor apparel.
On this note, Alexium is seeking innovative and technology focus partners to expand new products applications.
This further complements the group’s other high profile products in Alexicool® and Alexiflam® which have applications in multiple markets.
Alexium’s performance chemicals and materials have advanced applications across the military, workwear and bedding products industries with a focus on flame retardancy and thermal management.
It was just in June that the group’s prototype foam mattresses using FR (flame retardant) socks treated with Alexiflam® NF passed flammability testing required by US federal safety standards.
New cooling technology provides AJX with a step change
This latest proprietary technology builds on years of research at Alexium and creates a new growth platform complementary to its Alexicool® phase change materials (PCM).
In contrast to PCM technology, which works by absorbing heat, PhononTM technology builds on this by counteracting the insulative effects of foams and textiles and constantly moving heat away from the consumer.
In brief, the hotter a person gets the more actively the product works to cool them.
It is also worth noting that PhononTM products provide enhanced cooling performance without any increased hazards to consumers or the environment.
Importantly, PhononTM products provide enhanced cooling at a significantly reduced weight relative to other cooling technologies.
In addition to its perpetual cooling properties, the technology also provides a wide range of benefits that consumers care about, including:
- Adaptive/responsive cooling: The hotter a person gets, the more actively the PhononTM product works to cool them.
- Non-flammable, non-toxic, and environmentally friendly product: PhononTM products provide enhanced cooling performance without any increased hazards to consumers or the environment
- Lightweight: PhononTM products provide enhanced cooling at a significantly reduced weight relative to other cooling technologies.
New product to reinforce Alexium’s position in bedding market
Given the company’s established position in bedding markets, this industry is the initial target for commercial application of the new technology.
The PhononTM technology allows Alexium to significantly expand its offerings for total mattress cooling systems (TMCS) where a number of customer trials have proven the viability of this patent-pending, breakthrough technology platform.
The total addressable market in the US for cooling technologies in TMCS is estimated at US$60 million, with an additional US$25 million for top-of-bed applications.
Beyond bedding applications, this technology has comparable opportunities in other markets, including upholstery, medical products, sporting goods, and outdoor apparel/accessories.
Highlighting the significance for the broader thermal management solutions industry, Alexium chief executive Bob Brookins said, “Cooling technologies have become a critical selling feature for premium mattress manufacturers over recent years and Alexium has garnered a deserved reputation for leading technical innovation and analytics via its Alexicool products.”
“Generally, technical innovation is incremental in nature and it is therefore particularly exciting to announce today a truly disruptive platform technology, one which we believe can change the narrative in relation to thermal management solutions not just for the global mattress industry but also for several other performance applications in consumer products.”