Nanosynth Group PLC New JV agreement with Volz Holdings (3188V)
December 10 2021 - 8:34AM
UK Regulatory
TIDMNNN
RNS Number : 3188V
Nanosynth Group PLC
10 December 2021
10 December 2021
nanosynth group plc
("nanosynth", the "Company" or the "Group")
New JV agreement with Volz Holdings to produce antiviral HVAC
filtration media
nanosynth group plc, the AIM quoted company is pleased to
announce that it has entered into a new Joint Venture Agreement
(the "JV") with, inter alia, Volz Holding v.o.s (the "Parties")
forming the basis upon which the Parties intend to develop, market
and sell an anti-pathogenic product for the global filtration
market. The Company will initially own 51% of the JV.
nanosynth and Volz have each agreed to licence their respective
proprietary filtration and manufacturing technologies to the JV for
the purpose of producing an anti-pathogen product for the global
filtration market. Specifically, P2F have licenced their
antipathogenic IP (PCT/GB2021/052733, NANOPARTICLES FOR USE IN ANTI
PATHOGENIC APPLICATIONS) to the JV. The JV agreement has been
entered into on the basis of an agreed business plan and marketing
and sales strategy. Each of the Parties will be represented on the
JV board of directors.
Up to GBP50,000 of funding for initial working capital for the
JV will be provided by the Company under the terms of a loan
agreement which has also been entered into.
The Volz Group is predominately a major manufacturer of air
filtration media and filter products for use in HVAC systems, with
production facilities in Germany, Slovakia and the U.K. totalling
more than 80,000m2. The group has a diversified platform and
specialist Tier 1 CNC engineering processing capabilities.
Further updates on the progress of the JV will be made as and
when significant milestones are achieved.
Mark Duffin, CEO commented: "I am delighted to be able to report
the signing of the JV agreement with Volz which has the potential
for us to develop an outstanding HVAC product at a time of great
need around the globe. With the unfortunate prospect of further
COVID variants likely in the future, we envisage excellent longer
term sales prospects. We very much look forward to working with
Volz on this innovative project using our proprietary
technology."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside is now considered to be in
the public domain.
ENQUIRIES :
nanosynth group plc
Mark Duffin (Chief Executive Officer) via IFC Advisory
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
IFC Advisory Ltd +44 20 3934 6630
Graham Herring
Zach Cohen
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
JVEFLFFVFALILIL
(END) Dow Jones Newswires
December 10, 2021 08:34 ET (13:34 GMT)
Nanosynth (LSE:NNN)
Historical Stock Chart
From May 2024 to Jun 2024
Nanosynth (LSE:NNN)
Historical Stock Chart
From Jun 2023 to Jun 2024