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Textile Innovator HeiQ Raises $80M Going Public on London Stock Exchange

Textile materials technology company HeiQ has become a publicly listed company on the London Stock Exchange.

The listing follows an oversubscribed placing and subscription, raising 60 million pounds ($79.94 million). HeiQ is a global innovator in the $24 billion textile chemicals market, directly serving the $10 billion antimicrobial textile sector with its recent Swiss Technology Award-winning HeiQ Viroblock technology.

Founded in 2005, HeiQ has grown into a high-growth, cash-generative company that employs more than 100 people around the world. It has created some of the most effective, durable and high-performance textile technologies in the market that cool, warm, dry, repel, purify and stop viruses. So far, HeiQ has developed more than 200 technologies in partnership with over 300 major brands, including Burberry, Gap, New Balance, Patagonia, Speedo, The North Face and Zara.

HeiQ Viroblock antimicrobial technology helps in the fight against enveloped viruses, including SARS-CoV-2, the coronavirus strain causing Covid-19. This technology is already being used by more than 150 major brands.

The company’s aim is to deliver growth for shareholders by driving increased sales of HeiQ’s core products and by entering additional lucrative markets through disruptive innovations. This includes HeiQ Fresh AIR, HeiQ Smart Temp HeiQ Clean Tech.

HeiQ is building on the significant momentum achieved by Viroblock by developing its licensing and royalty business, which will see the brand licensed together with the technology to third parties in return for royalty fees. HeiQ is also developing new disruptive innovations, including HeiQ GrapheneX for industrial filtration.

“Today’s listing is a major milestone for HeiQ, and we are delighted to welcome our new investors aboard the ship,” HeiQ co-founder and CEO Carlo Centonze said. “We have spent the past 15 years building HeiQ to become one of the leading textile materials innovators in the world and the cash-generative profile of our business demonstrates the success we have experienced.”

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Centonze said the funds raised will enable HeiQ to build on the significant momentum achieved so far this year. Sales of core products to major brands have grown 17 percent in the first half of the year, while the company has entered “lucrative new markets with additional innovations.”

“The antimicrobial market, which has grown into a mainstream request, also presents a compelling growth opportunity going forward,” HeiQ chief financial officer Xaver Hangartner added. “The launch of HeiQ Viroblock more than doubled HeiQ’s revenue in the first half of 2020. We look forward to innovating the antimicrobial field and regularly updating the market regarding new partnerships and contracts in the future.”

Founded in 2005 as a spin-off from the Swiss Federal Institute of Technology Zurich, HeiQ combines three areas of expertise–scientific research, specialty materials manufacturing and consumer ingredient branding. With a total capacity of 35,000 tons per year, HeiQ manufactures in the U.S., Switzerland and Australia, supplying its specialty chemical products in more than 60 countries.