Accsys Technologies PLC (“Accsys” or “the Company”) is pleased to announce that its wholly owned subsidiary, Titan Wood Limited (“Titan Wood”), has agreed to heads of terms with Medite Europe Limited, a leading producer of panel products. This agreement is a milestone to the potential creation of a joint development agreement between the two companies.

Medite and Titan Wood are presently exploring ways in which they can combine their expertise and know how to jointly develop an economically viable, non-toxic, and stable medium density fiberboard (MDF) panel made from acetylated wood fibers. Testing to-date has demonstrated enhanced durability and dimensional stability that is substantially differentiated from standard MDF products and will allow their use in new and exciting applications, including outdoors.

Medite is a pioneering and forward looking company with more than 25 years experience in the wood composites sector. Medite currently offers a broad range of MDF products and is keen to explore the potential to expand their product offerings through the adoption of this new fiber based technology.

Titan Wood, the only company in the world to produce acetylated wood on a commercial scale, has already proven to be a market leader and currently produces Accoya® solid wood using the company’s own non-toxic, environmentally responsible, proprietary technology. The Company is now seeking to extend its proprietary technology to the production of wood composite ingredients. Working with production partners, it is the Company’s goal to license their revolutionary production technology, branded as TricoyaTM, for new applications in wood based composites fabricated from acetylated lignocellulosic biomass materials.

Finlay Morrison, Chief Executive Officer of Accsys Technologies, added, “As a step-change product, Accoya® has demonstrated that it is possible for wood to be both durable and environmentally sound. Tricoya™ technology is a logical next phase for the company. It will offer manufacturers the opportunity to develop high value, high performance, innovative wood composite products that can be used with absolute confidence in new and challenging applications. We are delighted to be collaborating with Medite, an industry leader, to work together to produce the most durable, stable and sustainable composite panels on the market.”

More info on www.accsysplc.com