Ethical Zinc made a sunscreen that protects reefs AND doesn’t make you look like Warnie
Health & Biotech
Health & Biotech
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Three of Advance Nanotek’s shareholders have launched a new brand of “ethical” sunscreen using one of the company’s zinc dispersion products.
The new sunscreen range “Ethical Zinc” is made using specially-developed pharmaceutical grade zinc oxide as the sole active ingredient.
Zinc oxide is a natural mineral that provides broad spectrum protection against ultraviolet rays.
Ethical Zinc says zinc has always been well regarded as the best broad-spectrum UV protector available, but originally had limited use due to its thick and white or fluoro-coloured appearance.
But now researchers have been able to create a clear zinc product that still provides the same sun protection that the thicker stuff does.
It also doesn’t harm reefs or oceans, according to Ethical Zinc.
“Our ultimate desire is to play a part in the incredible growth in ZinClear sales currently being experienced to benefit all [Advance Nanotek] shareholders and promote the many advantages offered by zinc oxide (in particular, ZinClear) as a superior UV protector,” Ethical Zinc executive director Chris Silvestro said.
The three shareholders own 16 per cent of Advance Nanotek (ASX:ANO).
“It’s rewarding to see valued shareholders grasp the market opportunities that our revolutionary reef safe (harmful chemical free) products offer,” Advance Nanotek chairman Lev Mizikovsky said.
Mr Mizikovsky told Stockhead Advance Nanotek is the only manufacturer of the patented ingredient used in Ethical Zinc’s new sunscreen.
But he could not say how much revenue that sales of the ingredient to Ethical Zinc would generate for Advance Nanotek.
“We are about to release our mid-year review figures and then we will make some projections,” he said.
“But it’s obviously growing.”
Last week Advance Nanotek flagged that its profit for the first half of fiscal 2019 had climbed to $1.6m, from $607,000 a year earlier.
The company attributed the profit boost to “significant growth in the sales of XP Powder, with one customer ordering six times more than volume of orders from the prior year”.