Cleantech Building Materials: Thai Distribution and Offtake agreement

3 January 2020

CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH, COPENHAGEN

TICKER: CBM

Thai Distribution and Offtake agreement

Cleantech Building Materials plc (“CBM” or the “Company”) is pleased to announce that CBM’s subsidiary, Diamond Wood China Limited (“Diamond Wood”), has entered into a Distribution and Offtake Agreement with Siam Décor Solutions of Thailand (“SDS”) (the “Agreement”).

Under the terms of the Agreement, SDS has committed to purchase a significant volume of Accoya® wood from Diamond Wood to be sold to manufacturers and project contractors in the Thai region. The initial duration of the agreement is for three years.

Diamond Wood benefits from exclusive rights to manufacture and sell Accoya® wood in China and the ASEAN countries, through its technology licence agreement with Titan Wood Limited, a subsidiary of Accsys Technologies plc.

Based in Bangkok, SDS is a premium products distributor for the finished building sector with 285 wholesale building-materials shops across Thailand.

Commenting, Jason Wang, CEO of CBM and Diamond Wood, said “We are delighted to be partnering with SDS in expanding the growth of Accoya® wood sales in the Thai market.  In Asia there is an increasing awareness of the Accoya® wood brand and its applications for flooring, decking, siding, outdoor furniture, windows and doors.  Accoya® wood has already been marketed in Thailand for a decade and has been used in many high profile projects.  We anticipate an acceleration of strong recurring sales through SDS’s customer network.”

Commenting, Paul Richards, Chairman of CBM, said “With this three-year distribution and offtake agreement with SDS, and several other similar offtake agreements across China and Asia, Diamond Wood has been successfully building a solid order book in anticipation the Company’s plan to construct its own Accoya manufacturing facility in China.”

THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

Further information may be found at the Company's website at -plc.com.

Further Enquiries:

Cleantech Building Materials plc

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Keswick Global AG (Certified Adviser)

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The information communicated in this announcement is “inside information” for the purposes of article 7 of the Market Abuse Regulation 596/2014.