Nanoveu Ltd (ASX:NVU) shares have been up as much as 52% to 10.5 cents after executing an exclusive agreement with AIBI Pte Ltd to distribute its antiviral protection technology in Singapore.
Under the terms of the agreement, AIBI will incorporate the Nanoveu technology into a new range of gym and home exercise equipment to be distributed to businesses throughout Singapore.
Additionally, AIBI intends to distribute Nanoveu’s antiviral products in health care and retail applications.
AIBI is a Singapore-based fitness equipment and wellness provider to the Asia-Pacific region operating a business to business network with wide retail chain distribution and sales offices across Singapore, Malaysia, Indonesia, Brunei, China, Thailand, and Australia.
NanoShield products “first line of defence”
AIBI marketing director Pauline Kwek said: “We are pleased to be partnering with Nanoveu to deliver advanced protection for our patrons.
“Safety is a top priority and we believe the NanoShield products provide the first line of defence for our customers, not just in gyms and home fitness areas, but into shopping malls, hospitals, train stations where we have a long history of being a reputable supplier to top businesses, hospitals and companies in Singapore.
"With over 35 years of bringing fitness and health-related products to the Singapore market and the broader Asia-Pacific region, AIBI is poised to take a leading position, providing safe, anti-viral products into the market as the country rekindles from lockdown,” she added.
Highly effective agent
Nanoveu’s antiviral technology has been independently demonstrated to be a highly effective agent for the eradication of viruses.
The technology has been proven to eliminate 99.99% of OC43, a viral strain affecting humans that is also a surrogate for COVID-19, in 30 minutes.
This antiviral protection has also been validated against other bacteria and viruses.
Major commercialisation step
Nanoveu executive chairman and CEO Alfred Chong said: “The agreement with AIBI is another major step forward in the commercialisation of our revolutionary antiviral technology.
“AIBI are a highly reputable partner, and for most of us living in Singapore, an icon with an enviable distribution network and we look forward to working closely with them.”
The positive test results and increasing interest from business in antiviral solutions permit a broader market opportunity for Nanoveu’s antiviral film which can be applied to mobile phone cases and screens, as well as an increasingly large array of other surfaces which could benefit from innate antiviral protection.
"Grounded on credible data"
AIBI business development manager DS Nick said: “We have evaluated many products in the market but have found that the NanoShield line of products are grounded on real and credible data in terms of efficacy of eradicating the coronavirus.
"The product has been demonstrated to be effective in just minutes.
"We will be rolling out an entire range of fitness products as well as corporate and government initiatives that can be complemented with the NanoShield technology.”