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Nanoveu shares soar as antiviral product sales accelerate across multiple geographies

Proactive Investors Thursday, 24 September 2020
Nanoveu Ltd (ASX:NVU) has soared after secured new sales for its B2B antiviral film and antiviral mobile phone protection product with a combined value in excess of A$250,000. The accelerating sales activity, including a maiden shipment of antiviral film product to Vietnam, is being driven by Nanoveu’s recently appointed distribution partners and the increasingly broad number of applications for its products. This growth also validates the effectiveness of Nanoveu's antiviral protection product for increasing applications. Investors responded positively to the news with shares up as much as 55% to 8.9 cents intra-day. “Expanding into new markets” Nanoveu executive chairman and CEO Alfred Chong said: “Nanoveu is continuing to make strides to build up its order book and list of distributors. “It is pleasing to see the various applications which the technology is being used for as well as the growing list of international partners. “We are very excited to add another major destination such as Vietnam to our list of supplied countries and we now have sales in countries as diverse as the USA, Australia, UK and Singapore. “Nanoveu will continue to keep shareholders updated as it expands into new markets.” New distributors appointed New distributors have recently been appointed including BrightEco Pte Ltd and Excelsia Technologies Sdn Bhd, HITEK Electronics Material Ltd, GNT Fine Wines Pty Ltd and Keywest Technology Ltd. Proceeds from 53% of these sales have been received and the balance is due within the next 30 days under Nanoveu’s typical credit terms for large commercial customers. Nanoveu-protected touchscreens have been installed on screens within one of Singapore’s largest shopping malls, Suntec Shopping Mall. Antiviral screen protectors A $70,000 sale through BrightEco will see the maiden shipment of Nanoveu product to Vietnam, with a focus on mobile phones. This marks the first major sales order to focus on antiviral smartphone screen protectors. Nanoveu is also pleased to have achieved deployment into one of the largest shopping malls in Singapore, Suntec City Mall, with more than 360 retail outlets over four storeys. The Nanoveu film has been applied to 74 TV screen and touchscreen surfaces within the facility. Luxury car market An order has been received from an Asia-based vehicle accessory distributor, Excelsia Technologies Sdn Bhd, with the intent of applying the antiviral film in the touchscreens of luxury cars. This marks the first application of the technology in vehicles and demonstrates the increasingly broad potential for antiviral protection. Additional applications Nanoveu’s antiviral technology has been independently demonstrated to be a highly effective agent for the eradication of viruses, proven to eliminate 99.99% 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 . Discussions are ongoing for additional applications, including retrofitting self-check-in kiosks and security trays at airports and vending, automated distribution and gaming machine manufacturers have also shown a keen interest. Pilot trials at hotel and restaurant chains are also underway.
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