- Nanotech developer ZEN Graphene (ZEN) has leased a new manufacturing facility to meet growing demand for its viricidal coating technology
- The new facility, located in Ontario, has been leased for three years and will be transformed into a manufacturing base for prospective technology
- The company’s patent-pending viricidal ink has been shown the be effective against COVID-19, making it suitable for use in the growing PPE and HVAC filter sectors
- Production at the facility is expected to commence in the fourth quarter of this year
- ZEN graphene opened 2.42 per cent up and is trading at C$1.69 per share
Nanotech developer ZEN Graphene (ZEN) has leased a new manufacturing facility to meet growing demand for its viricidal coating technology.
The new facility, located in Ontario, has been leased for three years and will be transformed into a manufacturing base for prospective technology.
The company’s patent-pending viricidal ink has been shown the be effective against COVID-19, making it suitable for use in the growing PPE and HVAC filter sectors.
The company’s prospective technology has sparked a rapid share price rise, since the news of its effectiveness against COVID-19 hit the public back in September.
Since that announcement, the value of the company’ shares have more than tripled.
Commercial interest in the ink is also continuing to grow, with healthcare tech company Trebor RX signing a letter of intent with ZEN this month to use the ink in its mask and filters
Production at the facility is expected to commence in the fourth quarter of this year, and the company is currently sourcing the requisite equipment and engineering work to incorporate the ink into PPE and filters.
ZEN Graphene chose the facility after enlisting the help of ERM Consultants Canada, which assessed the operational and environmental requirements for a potential manufacturing site.
ZEN CEO Francis Dube said the facility will give the comapny the scale the it needs for its current obligations with Trebor and for the demand it expects in the future.
“Our team is moving at a very rapid pace to implement our business plan and secure a new manufacturing facility permitting ZEN to bring its innovative product to market on a timely basis,” he said.
ZEN graphene opened 2.42 per cent up and is trading at C$1.69 per share.
