(Alliance News) - nanosynth group PLC said on Monday good momentum is being gained ten months into its turnaround strategy.
Shares in nanosynth were up 37% at 0.31 pence on Monday morning in London.
The company explained that, whilst its partnership with Volz Holdings VOS is still in its early stages, trials have been run to help both companies develop a standard retro fit to media production lines so that installation and execution can become streamlined.
The company previously announced it would not remain in face mask production and supply due to a shift in the market with regard to mask mandates but established a partnership with Volz in June.
Under the partnership, the company planned to take the technology developed with Volz and use it to spray directly onto the media for masks and many other products within the heating, ventilation, and cooling market and beyond.
The company has since successfully proven the technology and reported "exciting" results on the media tested at Volz.
A fifth trial production run is due to take place in the coming weeks and nanosynth is now confident to apply for a UK Registration, Evaluation, Authorisation and restriction of Chemicals application with the UK Health & Safety Executive.
This, nanosynth explains, will allow it to produce up to 60 tonnes of copper oxide nano material per year.
As the initial phases of the works schedule are completed, the company said it will seek to enter into long term commercial agreements.
At the moment, discussions are at various stages of progress. It is expected that the commercial partnerships, once agreed, will commence with a research & development partnership, paid for by the partner, to deliver the project and then move to an exclusive commercial agreement based on minimum volume requirements.
Nanosynth cautioned that though it is confident that these discussions will lead to binding agreements, there can be no certainty.
By Heather Rydings; heatherrydings@alliancenews.com
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