Nanoveu Ltd (ASX:NVU) broadened and enhanced its product range during the March quarter into anti-viral and anti-reflective products for smartphones and tablets.
This work included the development of working prototypes using Nanoveu’s advanced anti-viral smartphone case and screen protection technology.
Executive chairman and chief executive officer Alfred Chong said: “The March period has seen Nanoveu take significant strides in the development of its suite of nanotechnologies for mobile phone devices.
“While not announced during the quarter, the company was able to accelerate its development of an anti-viral technology and this technology has emerged as a key opportunity for Nanoveu as the COVID-19 pandemic spreads internationally.”
Working prototypes developed
Research and development spend increased over the March quarter with Nanoveu producing 12 screen protector prototypes.
These will be subject to additional testing in product effectiveness trials in Singapore and the United States.
Chong said: “Post quarter-end Nanoveu was able to capitalise on the advancements made over the period by announcing the successful development of working prototypes capable of protecting smartphone users from coronaviruses.
“These developments occurred while Nanoveu was also able to finalise an exciting licensing agreement to develop anti-reflective screen covers which are superior to traditional anti-glare covers.
“With expansion into anti-viral and anti-reflective markets, Nanoveu is pleased with progress to date and expects another busy quarter to follow.”
The company has also appointed consultants to advise and guide it on compliance with the Australian Therapeutic Goods Administration (TGA) with the aim to apply for approval as a Class I Medical Device.
Anti-viral prototype screen and case protector
Licence agreement signed
Under a five-year licensing agreement, Nanoveu will receive non-exclusive access to patent-protected anti-reflective coating technology and hard anti-reflection glass.
The company has started its research & development process with a primary objective of trialling varying refractive indexes (the speed of light in that medium with respect to a vacuum) to observe the most efficient anti-reflective coating and trials to incorporate nanolayers of different glass and plastic (PET) materials.
Upon completion of a commercially acceptable anti-reflective film, Nanoveu will seek to launch sales across its multi-channel sales network, which includes online retailing, agreements with bricks-and-mortar retailers, as well as trial sites of the Nanoveu’s mobile screen installation vending machines.
Potential for mass production
The company is also investigating the potential mass production for a variety of different phone shapes and sizes utilising Nanoveu’s existing supply chain to accelerate product development and production to reduce the time typically required to bring a new product to market.
Procurement for the first production run is underway for smartphone and tablet protective screens.
To complement the screen protectors, Nanoveu is also developing a protective case providing protection to the back of a phone which will be a conventional protective case layered with the same material as the screen protector.
Looking forwards
At the end of the quarter, the company remained well-funded with around A$1.6 million in cash.
Nanoveu will continue the development of its new products with both the screen protector and case expected to be available for sale in late quarter two/early quarter three 2020.