The present final report described the main activities carried out by the partners in TANNOW project, which lead to review and update the status of the initial business idea. All in all, the concept of the business idea remains unaltered based on the valorization of OMW from waste to raw material, for the production of a new class of OMW-based tannery chemicals with high tanning and antioxidant strength. Such chemicals will be used by tannery industries to produce Cr-free and CrVI-free leather articles. The specific objectives, declared in the proposal to produce the feasibility study were achieved:
(I) Create and consolidate the supply chain. Two different suppliers of OMW were selected, respectively an olive oil producer and a wastewater treatment plant, having a large availability of OMW to cover raw material demand for the expected OMW-based tannery chemicals productivity.
(II) Review the business model and related commercial exploitation plans. The initial business model was reviewed and split in two different models, respectively covering the OMW treatment exploited by one partner and the selling of OMW-based tannery chemicals exploited by the NewCo TANNOW srl owned by the three partners.
(III) Complete the market analysis. An extensive review of the market analysis was performed in the tannery chemical sector and for the main driver of this sector, which is the leather market, analyzing main trends, market and R&D drivers.
(IV) Complete market and commercial strategies to reassess the financial plan and define the products selling points. The partners decided to place on the market the antioxidant and tanning resins as first TANNOW s.r.l. product, because of the readily saleability in the main end-use market shares of leather as footwear, car interior, upholstery and clothing, defining price policy. In consideration of the commercial network of all the partners with pre-existing customers, the resin sales forecast has been updated.
In addition, during TANNOW project a review of the prior art related to the methods and processes for OMW treatment and the use of treated OMW and related tanning resins was carried out. The prior art analysis lead to conclude that both the background elements have the requirements for patentability and none of similar backgrounds limit the freedom to operate. As such, during TANNOW project two patent applications were submitted.