RE: This is going to be the best Xmas ever10 Dec 2021 17:00
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 £50,000 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.