LifeClean International AB: LifeClean has Developed a Revolutionary Method for PFAS Removal
LifeClean International AB (publ) ("the Company") announces today that the Company has developed an effective method for removing PFAS substances ("PFAS") from fire-fighting foam tanks. PFAS are environmentally and health-damaging substances previously used on a large scale as an ingredient in, e.g., fire-fighting foams. The phase-out of PFAS is ongoing and global, which opens up a significant market potential for the Company. Successful customer tests of LifeClean's method have already been conducted.
The LifeClean group, under the leadership of Chairman and founder Ragnar Krefting, has researched, developed, and successfully tested a new method for PFAS removal from contaminated surfaces. The method is adapted for the best effect against PFAS and is part of a new assortment in LifeClean's product range. The new product assortment is based on the Company's patented chlorine dioxide formulation and also includes ingredients from the subsidiary Kempartner.
Test results of the LifeClean method at Södertörn's firefighting association of five fire foam tanks have shown positive results where ≥99.97% of PFAS substances in the tanks have been detached according to an accredited third-party laboratory. In January 2023, the LifeClean-treated tanks would otherwise have been plugged and disposed of following current environmental and waste legislation. Now, this does not need to be done after decontaminating with the LifeClean method, which means a great economic saving of public funds. The same problem exists in the rest of the world, and the Company will, in a first step, process the Nordic market and, in a second step, the rest of the EU. An investigation is underway to see if it is possible to obtain regulatory exemptions for faster sales to countries where additional authorization is required. The company estimates that approx. 75,000 fire trucks in Europe are PFAS-contaminated and in need of decontamination. The estimated revenue per fire truck is approx. SEK 60,000 +/- 20,000, depending on tank size.
PFAS are a group of chemicals with unique properties such as heat resistance and have, among other things, been an important ingredient in fire-fighting foams for firefighting at areas such as airports, ships, and defense facilities worldwide. PFAS are very resilient to degradation and are sometimes referred to as "forever chemicals". There is a high global consensus that PFAS should be phased out, even in fire-fighting foams where, among others, the carcinogenic and reproductively toxic substances PFOS and PFOA have been used.
"It is with great pleasure that we can present this news and a great day for LifeClean and the environment. These products and our method are something that benefits the Company, now and in the long term. Our customers demand solutions to problems, efficacy, and sustainability, and then there is only LifeClean; as true for surface disinfection as for decontaminating PFAS.", says Ragnar Krefting, Chairman and founder of LifeClean International AB.
More information can be found at (in Swedish): https://www.lifeclean.se/se/ytdesinfektion/lifeclean-metoden-foer-pfas-sanering-av-brandskumstankar/.
This information is information that LifeClean International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on November 10, 2022.
Certified adviser for the Company is Eminova Fondkommission AB | +46 (0)8-684 211 10 | [email protected]