# I-Tech

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/itech).

## Overview

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.

## Products & services

• Selektope active ingredient for antifouling coatings
• Marine biofouling prevention technology
• Formulation support for coating partners
• Regulatory approvals and product registration support
• Technical and commercial collaboration with coating companies

- **Selektope ingredient sales** (85%) — Sales of the active ingredient used in marine antifouling coating systems.
- **Marine coatings technology support** (10%) — Technical support and formulation know-how for coating partners using Selektope.
- **Regulatory and market access activities** (5%) — Work related to approvals, registrations, and geographic market coverage.

- Selektope active ingredient for antifouling coatings
- Marine biofouling prevention technology
- Formulation support for coating partners
- Regulatory approvals and product registration support
- Technical and commercial collaboration with coating companies

## 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.

- **Global marine coating manufacturers** (primary) — They buy Selektope to formulate premium antifouling coatings for ships and marine assets.
- **Commercial shipping end markets** (primary) — Ship operators use coatings containing Selektope to improve hull performance and reduce fouling.
- **Leisure boat coatings** (secondary) — Boat coating brands use the ingredient in selected recreational marine products.
- **Marine and energy installations** (secondary) — Operators need fouling prevention for exposed marine assets and infrastructure.
- **Chemical processing industry** (emerging) — Uses fouling-prevention solutions where marine growth affects equipment and surfaces.

- Global marine coating companies that formulate antifouling paints
- Commercial shipping customers reached through coating manufacturers
- Leisure boat coating markets in selected regions
- Marine and energy installation end markets affected by biofouling
- Chemical processing applications where fouling prevention matters

## 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.

- **Asia** (97.5%) — Based on 2025 net turnover by region
- **Europe** (2%) — Based on 2025 net turnover by region
- **North America** (0%) — Based on 2025 net turnover by region; disclosed amount rounds to near zero

- Asia is the dominant market for Selektope sales
- Europe is a meaningful revenue region and regulatory focus
- North America contributes a smaller share of revenue
- Sweden is the company’s headquarters and operating base
- Global shipping routes make the business internationally exposed

## 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.

- **Broaden adoption among major coating companies** (short-term) — Customer concentration and market penetration depend on being specified in premium coating portfolios.
- **Expand geographic coverage** (medium-term) — Marine coatings are sold globally, so broader approvals and market access increase addressable demand.
- **Deepen product and formulation innovation** (medium-term) — Performance and compatibility with coating systems support differentiation and customer retention.

- Embed Selektope in leading antifouling coating portfolios
- Expand availability across all major regions and key markets
- Strengthen partnerships with coating companies and suppliers
- Invest in innovation and formulation knowledge
- Maintain and renew regulatory approvals in target jurisdictions

## 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 risk** [high] — Revenue depends on continued uptake by major coating manufacturers and their end customers.
- **Regulatory approval and renewal risk** [high] — The product requires approvals across jurisdictions, and delays can limit market access.
- **Third-party production and capacity risk** [medium] — Manufacturing is supported by partners, so supply continuity depends on external capacity and quality.
- **Shipping and marine market cyclicality** [medium] — Demand for antifouling coatings is linked to vessel activity, route patterns, and shipowner spending.

- Customer concentration in a small number of large coating companies
- Regulatory approvals must be renewed and expanded over time
- Partner manufacturing capacity can constrain supply
- Adoption risk if coating customers choose alternative ingredients
- Shipping industry cycles affect downstream demand for antifouling products

## Accounting

Revenue recognition is important because sales are concentrated in a specialized ingredient business where timing can depend on shipments and customer orders. Investors should also watch foreign exchange effects, since reported sales and expenses are influenced by movements in SEK versus USD, and the company capitalizes or expenses certain development-related items only when accounting criteria are met.

- **Revenue recognition timing** — Affects reported turnover and comparability across periods
- **Foreign exchange translation** — Can materially move reported revenue and operating expenses
- **Capitalized development and intangible assets** — Affects profit, asset values, and future impairment risk
- **Regulatory approval costs** — Influences operating expense run-rate and cash flow

- Revenue timing depends on shipment and customer order patterns
- Foreign exchange movements affect reported sales and expenses
- Development costs and intangible assets require judgment
- Lease accounting may affect operating cost presentation
- Regulatory and approval-related costs can be recurring and material

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*Last updated: 2026-08-11T04:04:53.586698+00:00*