Nanoveu Ltd’s (ASX:NVU) suite of NanoshieldTM antiviral protection technologies continue to develop international momentum with further in-bound enquiries leading to a growing list of international distribution partners.
The company has executed an exclusive distribution agreement with Vital Medikal Konfeksiyon Teksil San ve Tic Ltd Sti for distribution in the Republic of Turkey, as well as a non-exclusive distribution agreement for Hong Kong with Asia Pro Lab Limited.
Shares up 45%
Investors responded positively with shares as much as 45% higher this morning to 7.2 cents.
The agreement with Vital Medikal is effective immediately for a term of 12-months and while there are no guarantees of product sales, an annual US$575,000 purchase target has been agreed for Vital Medikal to maintain exclusivity for Turkey.
The agreement with Asia Pro Lab includes an initial, non-material purchase of NanoshieldTM product effective for a period of 12 months with an automatic renewal process, unless either party provides written notice 30 days prior to the rollover date.
“Global demand for products”
Nanoveu executive chairman and CEO Alfred Chong said: “We are continuing to see an expansion of our distribution network across the globe, which is reflective of the momentum Nanoveu has built.
“It is clear that there is immense desire for greater protection against bacteria and viruses and this demand is not just from first-world countries – it is a global phenomenon.
“The company will continue to target further distribution agreements in major markets, which permit greater avenues to generate sales revenue from NanoshieldTM products.”
Vital Medikal distribution
Vital Medikal is a specialist medical equipment distributor with more than 25 years’ experience supplying Turkish hospitals, clinics and other medical facilities with high-quality devices.
The distributor has an established track record throughout Turkey, already distributing a number of major brands including US-based multinational medical device company Teleflex and MedXL a supplier of prefilled syringes to more than 50 countries.
Nanoveu believes the Nanoshield products are complementary to Vital Medikal’s established B2B customer base, offering Turkish medical facilities the ability to deliver stronger protection against viruses and bacteria.
Asia Pro Lab agreement
Asia Pro Labs is a supplier of detailing and customisation for the enthusiast automotive industry, typically through the use of vinyl wrapping.
The supplier offers customisation for both the interior and exterior of vehicles and through this agreement will be able to utilise NanoshieldTM to deliver enhanced antiviral and antibacterial protection.
Establishing distribution partnerships
Nanoveu intends to continue its strategy of establishing distribution partnerships in major markets, which enhance sales capabilities without having to deploy significant amounts of capital.
In addition, the company is continuing to promote direct-to-consumer sales through its online sales portal and is pursuing additional B2B opportunities with a number of prospective organisations.
NanoshieldTM antiviral technology
The company’s flagship product is its NanoshieldTM antiviral protection which is available in a variety of mobile phone screen covers, mobile phone cases and as a commercial film capable of being applied to a number of surfaces.
The product is a clear plastic containing a layer of charged copper nanoparticles that have antiviral and antimicrobial properties.
It is commercially available and sold in a number of countries via Nanoveu’s channel partners.