11:53 AM EST, 11/03/2026 (MT Newswires) -- European Union member states backed the European Commission's proposal to end approval for I-Tech's (ITECH.ST) Selektope antifouling coatings technology under the EU Biocidal Products Regulation. The biotechnology company said Tuesday that it expects limited financial impact from the decision as its direct commercial exposure to EU demand accounts for 4% of its total turnover, and that an estimated 95% of the global commercial fleet would still be able to continue using Selektope-containing coatings. It added that the vote does not affect vessels already coated with Selektope and does not require removing or replacing existing coatings. I-Tech also plans to appeal the relevant aspects of the decision and is evaluating potential remedies and procedural options.

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