Nanosynth Group PLC (AIM:NNN) announced successful trials that will enable its partner Volz Holdings to apply Nanosynth's antiviral technology to all its products.
The trial enabled both companies to develop a standard retro-fit to media production lines, allowing Nanosynth to incorporate its antiviral technology into heating, ventilation, and air conditioning (HVAC) units, the AIM-listed firm said in a statement.
Shares of the company were 16.50% higher at 0.60p midmorning.
Having completed the latest trial production run, Volz is now working on process improvements to ensure production of safe, reliable media.
The UK's Health and Safety Executive (HSE) has approved Nanosynth subsidiary Pharm 2 Farm for REACH UK registration (UK Registration, Evaluation, Authorisation and restriction of Chemicals), which will allow the company to produce and distribute up to 100 tonnes of copper oxide nano-material per year.
This exceeds the company's year one forecast copper oxide nano-material sales requirements for the antiviral HVAC market, enabling it to quickly expand into other antipathogenic projects, it noted.
"We are delighted by these extremely positive trial results and the important Reach UK registration which will allow our partner, Volz, to apply our antiviral technology to all of their products," said Mark Duffin, Nanosynth's chief executive.
"This has the potential to lead to wider adoption by the global filtration industry. A pipeline of interest is already at an advanced stage, and we are hopeful that this will lead to considerable sales for our first to market antiviral product."
Nanosynth inked a joint development agreement yesterday with a global wellness company for its first project in the cosmetics market.