31 Aug 2022 07:00
31 August 2022
nanosynth group plc
("nanosynth", the "Company" or the "Group")
Successful Trial Results
nanosynth, the AIM quoted company specialising in the synthesis and application of nanoparticles to create new and improve existing products, is pleased to announce successful trial results with Volz Holdings v.o.s ("Volz") to enable both companies to develop a standard retro-fit to media production lines, that allows for the incorporation of the Company's antiviral technology into heating, ventilation, and air conditioning ("HVAC")units.
With the completion of the latest trial production run, Volz is now carrying out process improvements to enable more efficient and consistent production of safe and reliable media for the end user. The environmental impact of the treated media was evaluated and determined to be classified as non-hazardous materials that can be disposed of or recycled without restriction.
The UK's Health and Safety Executive ("HSE") has completed all of its checks and has approved Pharm 2 Farm Limited ("P2F"), one of the Company's subsidiaries, for REACH UK registration (UK Registration, Evaluation, Authorisation and restriction of Chemicals). The HSE has now allocated P2F to the appropriate substance tonnage band, which will allow the production and distribution of up to 100 tonnes of copper oxide nano-material per year. This exceeds the Company's preliminary year one forecast copper oxide nano-material sales requirements for the antiviral HVAC market, enabling the Company to quickly expand into other antipathogenic projects.
Mark Duffin, CEO of nanosynth commented: "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. 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."
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 | via IFC Advisory |
Mark Duffin (Chief Executive Officer)
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SP Angel Corporate Finance LLP | +44 20 3470 0470 |
Nominated Adviser and Broker | |
Stuart Gledhill | |
Caroline Rowe
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IFC Advisory Ltd | +44 20 3934 6630 |
Graham Herring | |
Zach Cohen |