Stock of the day: Nanoveu goes truly global after coffee deal with Nestle, share price shoots 90pc
Health & Biotech
Health & Biotech
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The Nanoveu (ASX:NVU) share price has been the best performer in small caps today, after surging by almost 90 per cent.
This came after the company announced a deal with Swiss giant Nestle as a customer. The deal was inked with Nestle Professional, the global beverage leader that includes the well-known Nescafe, and “We Proudly Serve Starbucks” coffee machines.
In the agreement, Nestle is to customise Nanoveu’s flagship anti-viral protectors, the Nanoshield, to fit precisely with its touchscreens and touchpads on the coffee machines. The Nanoshield-fitted coffee machines will be sold around the world.
Getting the deal wasn’t an easy task for Nanoveu. Prior to agreeing, Nestle Professional had undertaken its own testing at its Nestlé Institute of Food Safety and Analytical Sciences in Lausanne, Switzerland. The testing was done to validate different anti-viral solutions, where results will later be published in a peer reviewed journal.
At the conclusion of the study, Zenon Mandralis, head of research and development for Nestlé Professional, praised Nanoshield.
“The screen protections are a great solution, because they can be easily used on current beverage machines and complement existing enhanced hygiene measures we already have in place for our coffee solutions.”
In an independent study by Nanoveu, the technology has been proven to eliminate 99.99% of OC43 within 30 minutes. OC43 is a viral strain affecting humans that is also a surrogate for COVID-19.
The protector has also been validated against other bacteria and virus, including e.Coli, influenza, and the coronavirus MHV-A59.
Before today’s announcement, Nanoshield was mainly used for mobile phone screen covers and cases, and was also being applied to a number of other surfaces such as ATMs, EFTPOS devices, as well as handrails and public transport.
Two weeks ago, its share price also surged, after announcing distribution agreements in Turkey and Hong Kong, followed by another agreement in the Philippines two days ago.
Nanoveu delivered a net loss of $1.76 million, even after top line revenue surged by 500% to $368,000 during the year.
The company has a pipeline of pre-commercialised products in various stages of testing.
Its share price has risen by more than 200 per cent from a year ago, including today’s rise.