Nanoveu executes 12-month exclusive UK distribution agreement with CuVira for antiviral products

Nanoveu Ltd (ASX:NVU) has executed a 12-month exclusive distribution agreement with CuVira Ltd for Nanoveu’s products, including Nanoshield antiviral products, in the UK market.  The agreement, which accelerates the availability and reach of Nanoshield products across the UK, is effective immediately and incentivises sales through a series of purchase order targets.  Enhances capacity for UK sales Nanoveu executive chairman and chief executive officer Alfred Chong said: “Our distribution network continues to expand internationally and the agreement with CuVira significantly enhances our capacity to generate sales in the UK. “It is exceptionally pleasing that this agreement was the result of an inquiry from CuVira expressing interest in our unique Nanoshield technology, demonstrating that we are building traction in major markets.” Agreement details While Nanoveu has distributed to the UK previously, the company believes the agreement marks a significant expansion of distribution capabilities throughout the region. Nanoveu has selected CuVira as its exclusive distributor throughout the UK following an inquiry from the distributor The agreement will see CuVira vend a wide range of Nanoveu’s Nanoshield antiviral products, ranging from B2B commercial rolls to retail phone cases and screen covers (excluding distribution via Nanoveu’s Customskins vending machines), as well as door handle covers, medical PPE face shields and other applications of Nanoshield. Purchase order targets While there are no product sale guarantees, the agreement establishes the following purchase order targets to maintain exclusivity: Month 1 – US$10,000 Month 3 – US$400,000 Month 12 – US$4,000,000 The agreement to renew following the 12-month period, is subject to purchase order targets being satisfied. Following the agreement with CuVira, the company has established a series of partnerships across major sales destinations. The company holds distribution agreements across Singapore, Thailand, Malaysia, Australia, New Zealand and the UK. CuVira CuVira is a newly established venture between business partners Crerar Adams and Mike Tierney. Adams is a former British Skiing Olympian and founder of Fibre Optic Lighting International Ltd, which supplies lighting solutions to major construction projects across the UK and Europe. Tierney founded management consultancy, Fulcrum Development & Consulting Ltd in 2002, providing process improvement and organisational development solutions to organisations across the UK, North America, Europe, Middle East and Africa. Following the acquisition of Fulcrum by independent management consultancy group Pragmatique Ltd in 2007, Tierney has taken on the role of executive board member. The well-established track-record between Adams and Tierney strongly positions CuVira for its launch into the UK. Establishing distribution partnerships Nanoveu intends to continue its strategy of establishing distribution partnerships in major markets, which enhance sales capabilities without having to deploy significant amounts of capital. In addition, Nanoveu continues to promote direct-to-consumer sales through its online sales portal (https://www.nanoshield.co/shop) and is pursuing additional B2B opportunities with a number of prospective organisations Antiviral technology Nanoveu’s antiviral technology has been independently demonstrated to be a highly effective agent for the eradication of viruses. The technology has been proven to eliminate 99.99% of OC43, a viral strain affecting humans, that is also a surrogate for COVID-19, in 30 minutes. The antiviral protection has also been validated against other bacteria and viruses including e.Coli, Influenza A (subtype H3N2), and coronavirus MHV-A592