Periodic Reporting for period 1 - H2COLOR-AUX (An innovative polymer particle used for textile dying which massively reduces water and energy consumption)
Reporting period: 2019-09-01 to 2019-12-31
The key milestones achieved during the feasibility period was the securing of three dyehouses for testing and validation of the H2COLOR-AUX before market introduction. The company also analysed their production capabilities in conjunction with their scale up targets and decided it was advantageous to outsource the manufacturing of the H2COLOR-AUX to textile chemical producers around the world.
Ecofoot analysed in detail the go-to-market strategy to define the approach for accelerated and effective market uptake. It was concluded that initially, the H2COLOR-AUX will be sold to the European textile dyeing industry before expanding to the APAC region since this region has a burgeoning textile industry. The company expects to achieve revenues of €48M in year 5 and to reach a total of 35 total employees five years after commercialization.