Nanoveu Ltd (ASX:NVU) has signed an exclusive distribution agreement with Avolution Inc for its antiviral protective products range covering the market of the Philippines.
The agreement, which will see Avolution distribute the company’s range of products across the country, is effective immediately and is for 12-months with a possibility to extend further if all relevant sales targets are met.
Avolution is one of the major suppliers of digital signage, indoor and outdoor advertising, as well as event platforms in the Philippines.
“Continued interest from across the globe”
Nanoveu executive chairman and CEO Alfred Chong said: “Nanoveu continues to generate interest from across the globe in its unique antiviral technology.
“As more distribution agreements are signed, not only are we helping increase our avenues to sales but we also build further recognition amongst the clients of these distributors.
“It is very pleasing to see the Nanoshield product used in a variety of settings, as almost every industry across the globe is exposed to high-touchpoint surfaces.
“Our technology has the ability to make these surfaces much safer, offering enhanced protection and peace of mind.”
Aggressive marketing campaign
As a part of the agreement, Avolution will embark on an aggressive marketing campaign.
Avolution recently altered its offering to include COVID-safe products, such as its AVO safe to-touch touchscreens built into a soap dispenser, delivering advertising while the user washes their hands.
With the addition of its COVID-safe products and a strong list of clients, Nanoveu believes Avolution represents a strong partner to supply the Philippines market.
While the company confirms that there are no guarantees of product sales, an annual purchase target of US$700,000 has been agreed for Avolution to maintain exclusivity for the Philippines.
Unique antiviral product
The company’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%1 of OC43, a viral strain affecting humans that is also a surrogate for COVID-19, in 30 minutes.
The antiviral protection has also been validated against other bacteria and viruses including e.Coli, Influenza A (subtype H3N2), and coronavirus MHV-A592 .
Avolution general manager/president Lani Kimber S. Campos said: “As our country continues to employ lockdowns and other severe measures to control increasing infection level, now in excess of 7,000 per day – the highest since the start of the pandemic, a product such as Nanoshield can play a pivotal role in stemming the spread of the infection.
“This is our way of helping the Philippines take part in the healing of the nation.”
Agreement with Asumo
Before signing the distribution agreement with Avolution, Nanoveu had executed a nonexclusive distribution agreement with Asumo - also in the Philippines.
This agreement will continue to remain in force with transactions via Asumo exempt from the exclusivity clause agreed to with Avolution.
The combination of the two distributors provides an excellent complement to address the Philippines population of more than 110 million people.
Going forwards, 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.