Pettit has signed a long-term collaboration agreement with I-Tech AB, a biotechnology company that developed Selektope. Selektope is a unique biotechnology that repels barnacle larvae through natural receptor stimulation.
Through this joint collaboration, both parties will work together to develop a line of antifouling paints focused on the yacht market using I-Tech AB’s Selektope technology. Joint investments will include R&D development, regulatory approval and other investments committed by both companies. The collaboration agreement sets out the exclusive use of Selektope in the marine pleasure craft coatings market within the United States for a period of time.
Philip Chaabane, CEO at I-Tech AB, says: “This collaboration agreement represents a major step in expanding our business into the Americas as such, and most importantly introducing our technology to the largest pleasure craft market in the world. We are proud to be collaborating with Pettit Marine Paint, one of the largest companies in the US pleasure craft antifouling market, that has a clear ambition to grow their market share both in the US and in the surrounding territories.”
Scott Townsend, President of Pettit Marine Paint states, “At Pettit, we believe we all play a role in ensuring our treasured waterways are here for future generations. Pettit has been leading the way for years in water based and copper-free antifouling technology. We are excited to collaborate with I-Tech AB on the next innovation in biocides. Selektope is a proven biotechnology that has demonstrated strong efficacy in all types of waters. This partnership will allow Pettit to launch new innovative, sustainable antifouling technology that is unmatched in the industry.”