Zenova Secures £2m a Year Contract in Australia
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
10 November 2021
Zenova Group PLC ( AIM: ZED)
Zenova secures £2 million a year contract for its products in Australia
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 Australia.
The three-year contract, which commences on 1 January 2022, is with Spark Global Australia Pty Ltd ("Spark") in Victoria, Australia, a newly formed subsidiary of a major Australian construction company.
Under the contract, Spark will become an Authorised Distributor of Zenova products in Australia and has committed to purchase a minimum of £2 million of Zenova's products each year, including Zenova's insulating render (IR), insulating paint (IP) and fire-resistant paint (FP). The initial three-year contract can also be extended if certain conditions are met.
Commenting on the news, Tony Crawley, Chief Executive of Zenova Group PLC said: "Securing this contract is a significant development for Zenova. It marks the culmination of several months' work by both parties, including independent testing of our products by Spark, and truly highlights the global potential for Zenova's heat management and fire safety products.
"Good insulation is vital to reduce energy usage, whether you are heating or cooling a building. With 2020 proving to be one of Australia's warmest years on record[i], and experts predicting increasing temperatures going forward, Spark has recognised an opportunity for the use of Zenova's products in Australia and we look forward to helping them realise that opportunity."
For further information please contact:
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Zenova Group PLC |
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Tony Crawley, Chief Executive Officer Don Nicolson, Non-Executive Chairman
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Via Orana Corporate LLP: |
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SPARK Advisory Partners Limited (Nominated Adviser) |
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Matt Davis / Adam Dawes
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Tel: +44 20 3368 3550
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Brandon Hill Capital Limited (Broker) |
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Oliver Stansfield Jonathan Evans
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Tel: +44 20 3463 5000
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Redbine Ltd (Media Enquiries) |
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Paul Dulieu
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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:
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.
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 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.
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.
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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