I-Tech
I-Tech AB is a Swedish biotech company focused on the materials and chemicals sector, developing and commercializing Selektope, a performance ingredient used in marine antifouling coatings. The company is based in Sweden and serves global coating manufacturers that formulate products for commercial shipping and other marine applications.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueSales of the active ingredient used in marine antifouling coating systems.
Technical support and formulation know-how for coating partners using Selektope.
Work related to approvals, registrations, and geographic market coverage.
Customers
I-Tech sells primarily to large global marine coating companies that incorporate Selektope into antifouling products. These customers buy the ingredient because it helps improve hull performance and reduce biofouling in commercial shipping and related marine uses. Downstream end users include ship operators and, in some cases, leisure boat and marine infrastructure markets reached through coating formulators.
They buy Selektope to formulate premium antifouling coatings for ships and marine assets.
Ship operators use coatings containing Selektope to improve hull performance and reduce fouling.
Boat coating brands use the ingredient in selected recreational marine products.
Operators need fouling prevention for exposed marine assets and infrastructure.
Uses fouling-prevention solutions where marine growth affects equipment and surfaces.
Strategy
I-Tech’s strategy is to expand Selektope into the premium portfolios of major antifouling coating companies and make the ingredient a standard option across key markets. The company also emphasizes innovation, partnerships, and regulatory coverage so its technology can be used broadly in marine coatings and adjacent applications.
Customer concentration and market penetration depend on being specified in premium coating portfolios.
Marine coatings are sold globally, so broader approvals and market access increase addressable demand.
Performance and compatibility with coating systems support differentiation and customer retention.
Geography
I-Tech reports revenue across Europe, Asia, and North America, with Asia described as the dominant market in the company’s disclosures. The business is global in reach because marine coating customers serve international shipping routes and multiple end markets, while regulatory approvals must be maintained across jurisdictions. Sweden is the company’s home base and operating center.
Risks
The main risks are tied to demand for Selektope, customer adoption by large coating companies, and the ability of partners to manufacture and supply the product reliably. The business also depends on regulatory approvals and renewals, while marine coatings face industry-wide exposure to shipping cycles, route disruptions, and environmental compliance requirements.
- Selektope market adoption riskImpact: HighLikelihood: Medium
Revenue depends on continued uptake by major coating manufacturers and their end customers.
Exposure: Sales concentration and customer qualification cycles
- Regulatory approval and renewal riskImpact: HighLikelihood: Medium
The product requires approvals across jurisdictions, and delays can limit market access.
Exposure: EU BPR and other regional registrations
- Third-party production and capacity riskImpact: MediumLikelihood: Medium
Manufacturing is supported by partners, so supply continuity depends on external capacity and quality.
Exposure: Contract manufacturing and logistics
- Shipping and marine market cyclicalityImpact: MediumLikelihood: Low
Demand for antifouling coatings is linked to vessel activity, route patterns, and shipowner spending.
Exposure: Commercial shipping and marine infrastructure
Accounting
Judgemental itemsA niche ingredient business can show quarter-to-quarter swings based on shipment timing and customer ordering patterns.
Impact: Affects reported turnover and comparability across periods
The company reports in SEK while much of the commercial exposure is linked to USD.
Impact: Can materially move reported revenue and operating expenses
Product development and regulatory work may create assets or expenses depending on accounting judgment.
Impact: Affects profit, asset values, and future impairment risk
Ongoing re-registrations and approvals can create recurring operating costs.
Impact: Influences operating expense run-rate and cash flow
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Last updated: 24/09/2026