TIDMZED
RNS Number : 3388T
Zenova Group PLC
24 November 2021
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24 November 2021
Zenova Group PLC ( AIM: ZED)
Zenova secures EUR9.8 million contract for its products in
Europe
Zenova Group PLC ("Zenova", the "Company" or the "Group"), a
provider of innovative fire safety and heat management technology
and products, is pleased to announce that it has secured a major
contract for the supply of its products in four European
countries.
The three-year contract, which commences on 1 January 2022, is
with a Spanish company that will become an Authorised Distributor
of Zenova products and will promote and sell them to its clients in
Spain, Germany, Austria, and Switzerland. Its clients include a
German business that is a leading international specialist in the
production of ready-to-use high-tech coatings, and has an
established salesforce, warehousing and distribution
infrastructure.
Under the terms of the contract, the Authorised Distributor has
committed to purchase a minimum value of EUR9.8 million of Zenova's
products over the next three-years, with EUR1.8 million due in
2022. Products the Authorised Distributer will promote and sell in
these countries include Zenova's insulating render (IR), insulating
paint (IP) and fire-resistant paint (FP), plus fire safety products
the Company plans to launch in 2022.
Commenting on the news, Tony Crawley, Chief Executive of Zenova
Group PLC said: "When Zenova listed on AIM in July 2021, we were
already discussing the quality, efficiency and ecological
credentials of our fire safety and temperature management products
with a number of potential customers around the world. In securing
this new contract, it illustrates how we are gaining traction in
bringing these customers on board, and the appetite for our
products, even at this early stage.
"This contract also provides us with a foothold in Europe, which
is a substantial market in which we believe there is significant
opportunity for growth. We are confident of building Zenova into a
provider of independently certified and globally recognised
fire-safety and temperature management products and solutions."
For further information please contact:
Zenova Group PLC
Tony Crawley, Chief Executive Officer Via Orana Corporate LLP:
Don Nicolson, Non-Executive Chairman Anthony Eastman
Tel: +44 20 3475 6834
---------------------------
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Adam Dawes Tel: +44 20 3368 3550
---------------------------
Brandon Hill Capital Limited (Broker)
Oliver Stansfield Tel: +44 20 3463 5000
Jonathan Evans
---------------------------
Redbine Ltd (Media Enquiries)
---------------------------
Paul Dulieu Tel: +44 203 093 9530
+44 7554 521 421
Email: Paul@Redbine.co.uk
---------------------------
Note to Editors:
The Group, through Zenova Ltd, is the holder of intellectual
property that underpins a suite of fire safety and temperature
management products and technology. The product range is applicable
to industrial, commercial, and residential markets. The Group's
products include fire retardant paints, insulating paints and
render, fire extinguishing fluid and applications. Through
innovative development, and a refined formulation and development
process, Zenova provides industry leading solutions across a range
of fire protection and temperature management problems,
comprising:
Zenova FP
A water-based fire-resistant paint that prevents ignition and
spread of fire. It can be used in commercial, industrial, and
domestic applications on variety of materials, from wood to
metal.
Zenova FX
Patent pending fire extinguisher filled with proprietary Zenova
Fluid (Zenova FXB) that extinguishes all types of fires, reduces
chances of re-ignition, works in cold (-15 C) conditions, is
non-toxic and does not produce harmful by-products.
Zenova IP
Thermal insulating paint that creates a thermal barrier,
provides thermal reflection of sunrays & infrared radiation,
anti-condensation, and anti-mould properties. It can be applied to
virtually any exterior or interior material, regardless of the
surface.
Zenova IR
Thermal insulating render to enhance the effectiveness of
insulation by creating a thermo shield. It fills all cavities and
gaps regardless of geometric shape and creates a vacuum - the most
effective insulator.
Zenova CS
Patent pending next generation ceiling sprinkler filled with
proprietary Zenova Fluid (Zenova FXB) that removes the need to
install large fluid tanks, piping, complicated equipment, and
software. This sprinkler could be installed in the kitchen.
The Group has achieved this without compromising the
sustainability of natural and economical resources, including
personal health and safety, with ecologically sound products.
Further information on the Group can be found at
www.zenovagroup.com
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