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Delays in deliveries and challenges in production
ChromoGenics announces delays in deliveries.
ChromoGenics announces delays in deliveries due to material shortages and capacity constraints in the supply chain. The final deliveries for the end customer Betonmast for the project Gullhaugs Torg in Oslo will be delayed by approximately 8 weeks. Billing and incoming cash flow is expected to be affected to the same extent. ChromoGenics has also experienced disruptions in its own production process. The problem is identified and we calculate that the solution will be validated within three weeks. Until then, production in the factory is at a standstill. Our assessment is that the production stoppage will not create further delays of the project Gullhaugs Torg as the supply chain is the stopping point in this case. End deliveries for Vasakronan for the project Hästen are assessed to be delayed by an additional three weeks.
“We are taking the situation seriously as it affects the customers’ confidence in us. At the same time, our ability to quickly discover and solve quality deficiencies has strengthened. Our intention is to solve these challenges and do everything we can to get back on track in the delivery process again.” says Fredrik Fränding, CEO at ChromoGenics.
Otherwise, the upscaling of the production at ChromoGenics has proceeded well. Lately we reached a production rate corresponding to 200 square meters per week which is the level that we are planning to keep from next year.
Fredrik Fränding, CEO
Tel: +46(0)72 249 24 62
Lars Ericsson, CFO & Head of Communications
Tel: +46 (0)18 430 0430
Chromogenics is a proptech company that produces dynamic glass for real estate. The company’s product ConverLight® Dynamic, controls indoor comfort with high daylight transmission, great view and solar heat blocking and thereby reduces cost of cooling. ConverLight® Dynamic is based on a patented solution where electrochromic coatings are laminated in plastic film and then laminated between glass. The plastic film is easy to transport, so long shipments of bulky glass can be avoided. ChromoGenics also offers static glass, ConverLight® Static, and the ConverLight® Energy facade glass solution. ChromoGenics’ stock was listed on Nasdaq First North Growth Market in 2017 and has supplied glass technology to several major real estate companies.
ChromoGenics originates from world-leading research at Ångströmlaboratoriet at Uppsala University. The company’s production facility in Uppsala has been partially financed with conditional loans from Energimyndigheten (Energy Authority) in Sweden. ChromoGenics’ share (CHRO) is listed on Nasdaq First North Growth Market with Erik Penser Bank as Certified Adviser: email@example.com, 08-463 83 00.