- Nanoveu (NVU) has entered an exclusive 12-month distribution agreement with newly-established U.K-based venture company, CuVira
- Under the deal, CuVira will distribute Nanoveu’s antiviral products across the U.K.
- These products range from phone cases to door handle covers to medical face masks and more
- The agreement comes with three purchase order targets, with the final one being US$4 million (roughly A$5.1 million) by the 12th month
- If CuVira achieves the targets, the exclusive distribution agreement will be renewed
- Nanoveu ended the day 7.94 per cent in the green with shares closing at 6.8 cents
Nanoveu (NVU) has entered an exclusive 12-month distribution agreement with CuVira.
CuVira is a newly-established U.K.-based venture between Crerar Adams and Mike Tierney who jointly enquired about being Nanoveu’s exclusive distributor.
Crerar is a former British Skiing Olympian and founded Fibre Optic Lighting International which is a supplier of lighting solutions to major construction projects across the U.K. and Europe.
Mike founded management consultancy, Fulcrum Development & Consulting nearly 20 years ago. Fulcrum provides process improvement and organisational development solutions to companies across the U.K., North America, Europe, Middle East and Africa.
“Our distribution network continues to expand internationally and the agreement with CuVira significantly enhances our capacity to generate sales in the U.K. It is exceptionally pleasing that this agreement was the result of an enquiry from CuVira expressing interest in our unique Nanoshield technology, demonstrating that we are building traction in major markets,” commented Nanoveu Executive Chairman and CEO Alfred Chong.
Under the agreement, CuVira will distribute Nanoveu’s antiviral products across the United Kingdom. These products include business-to-business commercial rolls, phone cases and screen covers, door handle covers, medical face masks, and more.
Nanoveu’s antiviral products have shown they can eliminate 99.99 per cent of OC43 — a viral strain affecting humans which is also a surrogate for COVID-19 — in just 30 minutes.
At this stage, there aren’t any product sale guarantees. However, the agreement includes three purchase order targets to maintain exclusivity. In month one, CuVira will need to satisfy US$10,000 (roughly A$12,846) worth of purchase orders, followed by US$400,000 (roughly $A513,848) by month three and US$4 million (roughly A$5.1 million) by the 12th month.
If the purchase order targets are achieved, the exclusive distribution agreement will be renewed.
Nanoveu ended the day 7.94 per cent in the green with shares closing at 6.8 cents.