LDL Lydall Inc.

Lydall Partners with XPRIZE, Empowering the Next Generation of Innovators in Developing Solutions to the COVID-19 Crisis

Lydall Partners with XPRIZE, Empowering the Next Generation of Innovators in Developing Solutions to the COVID-19 Crisis

Company to Provide Meltblown Filtration Media, the Critical Component of N95 Respirators and Surgical Masks, to Participants in XPRIZE’s Next-Gen Mask Challenge

MANCHESTER, Conn., Sept. 24, 2020 (GLOBE NEWSWIRE) -- (NYSE:LDL), a leading global manufacturer of value-added engineered materials and specialty filtration solutions, today announced its partnership with , a nonprofit organization that uses global competitions to crowdsource solutions to some of the world’s biggest challenges. Lydall will supply fine fiber meltblown filtration media, the critical component of N95 respirators and surgical masks that traps harmful particles, to the 25 qualified teams of XPRIZE’s . Launched in July 2020, this four-month challenge invites young adults around the world to develop the next generation of surgical-grade consumer face masks. In addition to sharing a one-million-dollar prize, the three winning teams will be connected to rapid manufacturing opportunities in the U.S. to bring their designs to life.

A global market leader in specialty filtration solutions for 100 years, Lydall is one of only a few companies in the U.S. and the world capable of manufacturing fine fiber meltblown filtration media for face masks and high-efficiency air filtration systems. Doing so requires extensive technical expertise, deeply ingrained supplier relationships and access to the right equipment. For decades, Lydall has produced filtration media at its facilities in Rochester, New Hampshire, and Saint-Rivalain, France.

Although the material has a variety of applications, in response to COVID-19, Lydall quickly pivoted to meet the explosive demand for meltblown filtration media for N95 respirators, surgical masks and other personal protective equipment (PPE). The company also announced investments in and . The first new production line will be operational by the beginning of 2021, with the other two coming on line in mid-2021, increasing Lydall’s output of meltblown filtration media many times over.

“Innovation is core to who we are, and that means not only challenging ourselves to advance filtration science, but also supporting the next generation of innovators,” said Ashish Diwanji, President of Lydall Performance Materials, who will also serve on the judging panel for the challenge. “We’re honored to use our knowledge and resources to support XPRIZE and the young adults who are passionate about addressing the greatest global health crisis in over a century. I speak on behalf of all my colleagues at Lydall when I say that we can’t wait to see what kinds of solutions the teams come up with.”

Participants in XPRIZE’s Next-Gen Mask Challenge are tasked with designing face masks that offer a level of performance comparable to that of a surgical mask. This means that the mask must block 95 percent of particles while letting in enough air to allow the wearer to breathe comfortably. Lydall’s meltblown filtration media enables mask manufacturers to meet rigorous standards for quality and efficiency set in the U.S. by NIOSH, a division of the CDC, and ASTM. The material is even imbued with an electric charge that attracts particles, keeping them away from the wearer’s nose and mouth.

“We’re thrilled to have found such a strong partner for the XPRIZE Next-Gen Mask Challenge in Lydall,” said Sarah Saenz, XPRIZE Next-Gen Mask Lead. “We are challenging young innovators across the world to shift the perception around mask-wearing behavior by reimagining face masks entirely, but the most important aspect is safety. Lydall is providing the critical filtration media that makes N95 and surgical masks effective, and just as importantly, its team of engineers and material scientists will provide counsel and support to young adults around the world who want to build a better face mask. Their participation will help ensure that real solutions to a very real crisis are made available to our communities.”

For more information on Lydall’s role in preventing the spread of COVID-19, visit .

About Lydall, Inc.

Headquartered in Manchester, Connecticut with global manufacturing operations, Lydall delivers value-added engineered materials and specialty filtration solutions that promote a cleaner, safer and quieter world. We partner with our customers to develop bespoke, high-performing and efficient solutions that are adaptable and scalable to meet their needs. Lydall is a New York Stock Exchange-listed company. For more information, visit . Lydall® is a registered trademark of Lydall, Inc. in the U.S. and other countries.

Media:

Danielle Orsino

Telephone 949-365-6609

Investors:

Brendan Moynihan

Telephone 860-646-1233

Facsimile 860-646-4917



A photo accompanying this announcement is available at

A video accompanying this announcement is available at 

EN
24/09/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Lydall Inc.

 PRESS RELEASE

Lydall Announces September 14, 2021 Special Meeting Results

Lydall Announces September 14, 2021 Special Meeting Results Merger Agreement with Unifrax approved by Lydall ShareholdersLydall and Unifrax anticipate closing within 30 days MANCHESTER, Conn., Sept. 14, 2021 (GLOBE NEWSWIRE) -- (NYSE:LDL, “Lydall” or “the Company”), a leading global provider of specialty filtration and advanced materials solutions, announced today the results of the special shareholder meeting held earlier today. At the special meeting, Lydall shareholders approved the transactions contemplated by that certain Merger Agreement dated June 21, 2021 by and among Lydall, I...

 PRESS RELEASE

Lydall Announces Second Quarter 2021 Results; Significant Growth Acros...

Lydall Announces Second Quarter 2021 Results; Significant Growth Across Focused Portfolio Drives Margin Expansion FINANCIAL HIGHLIGHTS* - Q2 2021 Net sales of $221.7 million, up 51.7% compared to prior year on strong demand across all three segments; up 47.4% organicallyGross margin of 21.6%, up 220 bps; adjusted gross margin of 21.6%, up 210 bpsNet income of $5.8 million or $0.32 per diluted share compared to operating loss per share of ($0.34) in Q2-2020; Adjusted earnings per diluted share of $0.50 compared to adjusted loss per share of ($0.27)EBITDA of $20.5 million or 9.3%...

 PRESS RELEASE

Clearlake Capital-Backed Unifrax to Acquire Lydall, Inc. for $62.10 pe...

Clearlake Capital-Backed Unifrax to Acquire Lydall, Inc. for $62.10 per share Creates Market Leading Global Specialty Materials Platform Focused On Innovative Battery Materials, Filtration Solutions, and Energy Saving Technologies TONAWANDA, N.Y. and MANCHESTER, Conn., June 21, 2021 (GLOBE NEWSWIRE) -- Unifrax, a leading global provider of high-performance specialty materials focused on thermal management, specialty filtration, battery materials, emission control and fire protection applications backed by Clearlake Capital Group, L.P. (“Clearlake”), today announced it has signed definit...

 PRESS RELEASE

Lydall Announces First Quarter 2021 Results; Strong Demand Across the ...

Lydall Announces First Quarter 2021 Results; Strong Demand Across the Business Drives Healthy Margin Expansion FINANCIAL HIGHLIGHTS* - Q1 2021 Net sales of $227.1 million, up 13.3% compared to prior year on strong demand across all three segments; up 10.8% organicallyGross margin and adjusted gross margin of 21.4%, up 220 bpsNet income of $5.1 million or $0.28 per diluted share compared to loss per share of ($3.25) in Q1-2020; Adjusted earnings per diluted share of $0.35 compared to adjusted earnings per diluted share of $0.20EBITDA of $22.7 million or 10.0% of sales; Adjusted EBITDA up 22...

 PRESS RELEASE

Lydall Announces Stock Repurchase Program

Lydall Announces Stock Repurchase Program MANCHESTER, Conn., April 20, 2021 (GLOBE NEWSWIRE) --   (NYSE:LDL), a leading global provider of specialty filtration and advanced materials solutions, announced today that its Board of Directors has authorized the repurchase of up to $30 million of the Company's outstanding common stock from time to time in open market transactions at prevailing market prices or by other means in accordance with federal securities laws. Commenting on the stock repurchase program, Sara A. Greenstein, President and Chief Executive Officer, said, “This repurchase p...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch