THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 ("MAR") WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN
7 June 2022
Zenova Group PLC
("Zenova", the "Company" or the "Group")
Zenova Appoints Sub-Distribution Partner in Saudi Arabia
Zenova Group PLC (AIM: ZED) , a provider of innovative fire safety and heat management technology and products, is pleased to announce that it has entered a sub-distribution agreement with the Ethmaar Investment Company ("Ethmaar") to distribute its thermal insulation and fire protection products throughout Saudi Arabia.
The sub-distribution agreement will provide Saudi customers with direct access to Zenova's thermal insulation and fire protection products and builds upon Ethmaar's strong relationships with some of the biggest organisations in Saudi Arabia.
This agreement provides for Ethmaar to place the first order of one container valued at £116,000 within 3 months of entering into this agreement and subsequently order a minimum of £1.2m worth of Zenova products within 12 months of the date of the agreement.
Commenting on the news, Tony Crawley, Chief Executive of Zenova Group PLC said: "This agreement with Ethmaar represents a very important first step for Zenova into Saudi Arabia and we look forward to working with Ethmaar as we gain a foothold for our products in this jurisdiction where our products are much needed to tackle the issues that are increasing in their significance as the local authorities focus more on temperature management, energy conservation, safety and prevention of fire"
Tariq M Barri, Managing Director of Ethmaar said: " We are very pleased to be Zenova's partner of choice in Saudi Arabia. Critically, by adding Zenova to our portfolio we can bring innovative and high performing building material with green credentials to the attention of organizations (government and private), and building owners to compliment design strategies that improve safety, performance and reduce our environmental impact.
"Zenova IP, Zenova FP and Zenova IR improve the thermal performance and fire protection on future builds as well as providing solutions that do not exist in many scenarios. Adding Zenova to our product offerings allows Ethmaar to offer quick, affordable, and ecological insulation and fire protection solutions."
For further information please contact:
Zenova Group PLC
Tony Crawley, Chief Executive Officer
Don Nicolson, Non-Executive Chairman
Via Orana Corporate LLP:
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Adam Dawes
Tel: +44 20 3368 3550
SI Capital Limited (Broker)
Tel: +44 1483 413 500
Redbine Ltd (Media Enquiries)
Tel: +44 203 093 9530
+44 7554 521 421
About Ethmaar Investment Company:
Tariq M. Barri - Managing Director Tel: +966-5652500900
Salman Gazzawi - EVP Tel: +966-504940919
About Zenova Group PLC:
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:
A water-based fire-protection 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.
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.
Thermal insulation paint that creates a thermal barrier, provides thermal reflection of sunrays and infrared radiation, anti-condensation, and anti-mould properties. It can be applied to virtually any exterior or interior material, regardless of the surface.
Thermal insulation 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.
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