Alexium International Group Limited (ASX:AJX) closed almost 12 per cent higher yesterday after announcing it has started its first significant commercial sector account.
The surface treatment company will supply its fire retardant chemistries to a customer who remains unnamed to protect their competitive advantage in the marketplace.
Alexium expects the deal to generate significant monthly revenues with indicative annual revenues of between $US1 million and $US1.5 million.
CEO Nicholas Clark says the milestone is a major step for Alexium in the commercial sector and a very positive start to the year with the company’s first sustained client.
Alexium International Group reported a net loss of $4.01 million in the 2014 financial year.
