Stockholm spinout OrganoClick reports 44% sales increase following its Nasdaq float earlier in the year.

OrganoClick, a cleantech spinout of Stockholm University and the Swedish University of Agricultural Sciences, has recorded positive growth since floating on the Nasdaq market earlier in the year.

For the second quarter of 2015, OrganoClick reported SEK 13.41m ($1.62m) in revenues, compared to a loss of SEK 3.73m for the same period last year. Year on year, the firm reported a 44% increase in its sales.

OrganoClick is producing materials based on environmentally friendly fibre chemistry, such as its OrganoTex, a water repellent fabric treatment, and OrganoWood, a flame and rot-resistant timber.

Mårten Hellbergs, CEO of OrganoClick, said: “After the listing at Nasdaq First North and the raising of SEK 75 million during the first quarter, our focus has now shifted to perform the plan we have set up. Several key recruitment processes have been initiated, in particular for the sales force within our business area Performance textiles and nonwoven.”