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My job at a Unilever spin out company

Karin Maaijen - September13, 2012

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Catexel

What do we do?

We sell oxidation catalysts based solutions for saving: Energy Water Wasteand offer Substitution of “under-threat” technologies Improved application performance

We protect our markets using intellectual assets: Broad IP portfolio on catalysts acquired from Unilever in 2006/7 Significant patent additions in last 7 years (17 patents published)

We make money by making and selling products.

We outsource manufacturing through exclusive deals

September 2012

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Unilever spin out

Unilever developed an active manganese bleach catalyst for domestic detergent cleaning

Seed funding by Unilever Ventures to test catalyst for industrial applications

Unilever Ventures set-up Rahu Catalytics to commercialise this and related catalysts

Second generation manganese catalyst developed

Iron catalyst found to be active for paint drying , exclusive licence to OMG

Rahu/Fe-catalyst for paints coatings sold to OMG, set-up of Catexel

1994 Two technical platforms in commercial use

Small company; 10-11 people; NL, UK, PRC

Commercial headquarters in UK

Strong R&D capabilities and IP

Development for different application areas

Aim from Unilever Ventures (main shareholder): selling Catexel at certain point to a chemical industry company

History Current company

2004

2006

2010

2008

2011

September 2012

2009

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Catexel

Oxidation CatalysisTransition metal – ligand complexes

Peroxide activators/catalystsDRAGON & PEGASUS

Mn-Me3TACN chemistry

Alkylhydroperoxide activationFeONIX

Fe-bispidon chemistry

Cellulosic bleaching (cotton, viscose & pulp)Starch modificationChemical synthesis (epoxidation, etc)Laundry and dishwash detergents and cleaning (stain removal)

Alkylhydroperoxide activation for polymerisation and radical-based synthesisDetergents and cleaning (stain removal)Note: FeONIX/inks, coatings and composites sold to OMG

September 2012

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Chemistry from A to B

September 2012

NN

N

Me

Me

Me MnN

NMn

O

O

ON

Me

Me

Me

2+

N

N

N

N

N

Mn

N

O

O

Mn

O O

2+

O

O

OH

OH

OX

OH

OH

O

OH

OH

OHOX

Tea stains : theaflavins

Raw cotton chromophores

OH

OH

O

OH

OH

OH

OH

OMe

R

OH

R

OH

OMe

Wood pulp chromophores

From detergent applications to industrial cotton and wood pulp bleaching.

Lignin residue

Morin

From tomato stain bleaching to paint drying.

O

OO

OO

OO

linseed oil

phthalic acid

anhydride

glycerol

CH H

Unsaturated oil

FeONIXDragon & Pegasus

N N

O

N

N

N

O O

O O

Catexel Introduction - Strictly Confidential6 September 2012

Alkyd paint: Binder (unsaturated resins) Organic solvent or water Pigments Additives (e.g. paint drying catalysts)

Cobalt soap driers: Possible classification of Co-2-ethylhexanoate

as carcinogen (REACh) Therefore, creation of uncertainty in paint industry Issues on stability in waterborne paints

FeONIX as paint drierC

H H

C 16

H

O2

H

O2

Catalyst

RH

R

OOH

O

O

O

Catalyst

Branching: R – R R – O – R R – O – O – R

+

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FeONIX

High activity in SB and WB paints Can be added in low dosage Less decolouration than Co- or Mn-soaps High stability in WB paints

RahuCat successfully exited on plan in Dec 2011 Simultaneous exit to two acquiring businesses:

Catexel operating from 01 January 2012

September 2012

0

2

4

6

8

10

12

0.079% CoCo, Zr drier

0.00065% Fenew catalyst

dry

ing

tim

e [

h]

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My job

Working in a spin out company- pro’s and con’s –

Flexibility Versatility Creativity Short lines Uncertainty Different mind set

September 2012