Photocat A/S : New Agreement - Asak Miljøstein -Concrete - Norway

ASAK Miljöstein and Photocat have today concluded an agreement which will offer improved NOx reducing concrete stones, for example paving stones, to major cities in Norway. This new product will improve the air quality in Norwegian cities such as Oslo and Bergen and combat the NOx problems that these cities are facing.  
Furthermore, the new NOxOFF product from ASAK Miljøstein is expected to reduce public as well as private health costs caused by NOx pollution as well as improving the quality of life for numerous citizens harmed by air pollution.

ASAK Miljøstein is a leading manufacturer of concrete stones in Norway with a long lasting tradition as a truly high quality company. ASAK subscribes to responsibility towards a more sustainable future whenever possible.

The new product is expected to reach the market early summer 2016. The potential ordervolume for Photocat may be DKK  1 mDKK -  2 mDKK on a yearly basis from 2017 onwards.

Mr. Jørn Andre Hammer, the CEO of ASAK Miljøstein expresses:  "I have the pleasure of working with a company that is dedicated to offer the best solutions available to its customers. I am therefore proud that ASAK Miljøstein is leading the way and offers sustainable thinking as well as assists where we can to combat high levels of NOx pollution in the larger Norwegian cities.  
Mr. Hammer continues, "We have considered whether the market is ready to accept a product that, besides being a paving stone, also improves the air quality. I believe that the severe air pollution has raised awareness among Norwegian decision makers to a level where this new technology will be accepted and preferred."

Mr. Thomas Becker, Partner and Board member of Photocat A/S, expresses: "NOxOFF is one of those products that are evident and when you learn about it you simply say "Yes Of course". This kind of product is exactly what has been needed for any city planner, building owner and responsible regulator because, whether we like it or not, the NOx pollution in our cities is massive and will remain so for several generations. I strongly believe that this technology will be widely accepted and generate lot of recognition for ASAK Miljøstein, a company boxing way above its weight class."

Photocat manufactures patented coating materials for both outdoor and indoor applications with the effect to degrade NOx and VOCs when exposed to light. Both NOx and VOCs are severely damaging to human health. Photocat's patented technology is a very efficient and an economically viable alternative to many of the traditional technologies targeting NOx (e.g. bus catalysts, flue gas cleaning etc.). Photocat's shares are listed on Nasdaq Stockholm, First North with the ticker symbol PCAT. The company's Certified Advisor is Redeye AB.

For More Information, Please Contact:
Jørn Andre Hammer, CEO, ASAK Miljøstein A/S,                             Thomas Becker, Partner,Boardmember,         Tel: +47 4762 0800                                                                            Tel: +45 2961 7010               
e-mail: jorn.andre.hammer@asak.no                                                  e-mail : tb@photocat.net