Switzerland's HeiQ witnesses 15% revenue growth in FY21

In fiscal 2021, the company made excellent progress to support mid-term target revenue of $300 million. It launched 21 new innovations, including world’s first climate positive fibre HeiQ AeoniQ and secured more than $10 million investments from Hugo Boss and The LYCRA Company. The company filed a next generation battery patent for HeiQ GrapheneX and demonstrated the viability of double energy density lithium metal batteries. It completed 3 M&As for $28 million, broadening its bio-based hygiene offering, paid 42 per cent in cash and 58 per cent in shares.

2021 was a year of continuous progress and strategic investments into future growth, showing resilience despite the challenges of raw material availability, prices, logistic disruptions and sales impeding lockdowns, the company said in a press release.

In 2022, the company continues to see strong demand for its innovations supporting a growth target of 20 per cent and tremendous opportunity for mid-term value creation through blockbuster innovations. 

ALCHEMPro News Desk (RR)