ICEE raise $2 million and win multiple prestigious packaging awards in 2018

KEY TAKEAWAYS:

• ICEE are pleased to announce they signed a manufacturing licence with TOHO industries in Japan.
• The company have also signed a licence agreement with Atlas/ACH Foam in the USA.
• ICEE raised approximately $2 million this year.
• ICEE won the PIDA award for compostable packaging using renewable resources.
• The company have been nominated for World Stars packaging event to be held in Prague early 2019.
• ICEE have numerous pending licences with international companies in countries such as Korea, China and Europe.
• ICEE have expanded their team and employed another senior engineer with plans to recruit a marketing specialist early next year.

ICEE’s work in creating compostable packaging using renewable resources resulted in the company winning the PIDA award for this category and they have now been nominated for the World Stars packaging event to be held in Prague early 2019.

In 2019 the company will release an offer of new products that will improve the market penetration opportunities for ICEE.

This will include some additional design options that will improve the product offer and also some new materials that will better position ICEE in a range of business models.

Such as a highly durable ICEE product suitable for repeated use and abusive handling.  This item will target the returnable and reusable models in both B2B AND B2C business models. A very significant a market sector give the global push for a circular economy that make the optimum use of resources.

Following the proof of commercial production ICEE signed a manufacturing licence with TOHO Industries in Japan.

TOHO are Japans largest particle foam moulder with 14 factories in across the country.

Product and tooling design is now well advanced and the expectation is that pilot production will begin the Osaka plant January 2019 with a full production capability by June of 2019.

ICEE have also recently signed a licence agreement with Atlas/ACH Foam in the USA.

Atlas recently purchased ACH and this acquisition will make them close to the biggest particle foam shape moulder in the USA.

This licencing deal only finalised about 2 weeks ago and the company will now commence the process of identifying the products for a go to market strategy with them.

Atlas/ACH Foam have initially licensed 9 plants across the USA as available for production of the ICEE product.

The company have finalised licenses in the USA and Japan, with highly advanced discussion in Korea and solid negotiations in China and Europe.

ICEE have expanded their team and employed another senior engineer with plans to recruit a marketing specialist early next year to support services to their licensees and maximise the potential of their website.

 

About ICEE

ICEE Containers Pty Ltd is based in Melbourne, Australia. ICEE recognised that particle foam is a packaging paradox: it is unrivalled for its superior insulation and cushioning properties, but its bulk makes storage and disposal inconvenient. The challenge the packaging industry has been trying to solve for more than 70 years is to make foam polymers fold-flat. Not a simple task considering foam’s brittle structure.

ICEE developed a patented process that creates a strong, durable hinge for particle foam within its moulding process. No additional production costs were incurred and no capital investment is required by moulders as they utilise existing equipment.

The result is a strong, multi-use hinge that is ideal for producing insulated packaging that folds-flat. As such, the ICEE ColdFold® boxes can offer companies a superior alternative to traditional rigid foam boxes with the same thermal and cushioning characteristics but with the additional benefits of the fold-flat innovation. This saves time, space and money, making them an incredible 60% more efficient to move and store.

ICEE’s business model is to license existing moulders globally for a royalty based on sales.

This low-cost business model with no manufacturing capital expenditure ensures strong future cash flows and early path profitability. There are currently 3 licensees: Japan, USA & South Korea.

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