Canadian nanotechnology firm ZEN Graphene Solutions Ltd. (ZENYF:OTC-US; ZEN:TSX.V), which is working on developing on next-generation healthcare solutions that include graphene nanomaterial based products, today announced that "it has delivered and generated revenue from its first shipment of ZENGuardTM antimicrobial coating to Trebor Rx Corp."
The company advised that this first commercial shipment was possible as it was able to rapidly move from bench scale production to operations capable of supporting manufacturing greater than 30 million masks monthly.
The firm noted that it is now engaged in engineering and building a new industrial plant that is expected to have the capacity to coat the equivalent of 800 million masks per month. ZEN Graphene Solutions reported that the plant is now in the procurement stage and is expected to go online in the fourth quarter.
"A new level of safety and protection has been achieved by the approval of Trebor's biocidal coated ZENGuard mask."
ZEN Graphene's CEO Greg Fenton remarked, "The achievement of our first commercial sale of ZENGuardTM to our partner Trebor marks the beginning of what we expect to be a very compelling growth story for the prevention pillar of our health care portfolio in the months and years ahead. With Health Canada approval behind us, we are now focused on bringing our industrial production online to meet the global demand we expect for our gold standard anti-microbial face mask."
In a separate news release yesterday, ZEN Graphene Solutions and Trebor Rx Corp. announced "Health Canada's approval of ZENGuard™ disposable face mask with biocidal coating and rated it at ASTM Level 3."
The company explained that Health Canada conducted an extensive review process to insure that the ZENGuard™ disposable face masks met use and safety standards. The product data was examined in detail to evaluate several key factors including bacterial filtration efficiency, inhalation safety, pathogen deactivation, shedding, skin irritation and viral filtration efficiency. Upon full review, the agency validated that ZENGuard™-enhanced surgical masks are indeed safe for immediate use by Canadians.
CEO Fenton commented, "Exactly one year ago today we announced the scientific breakthrough related to our antimicrobial coating – and now seeing proactive affirmation from Health Canada that ZENGuard™-enhanced surgical masks are safe, we have achieved a major milestone for our company and shareholders"
Fenton continued, "We are ready to bring what we believe is a significant differentiator in the PPE space to those in Canada's highest risk environments. Looking beyond our borders, the first regulatory approval of our technology for use on surgical masks is also significant as we continue developing our international growth strategy."
"The ZENGuard coating offers protection against COVID-19 and shows potential for use in other compounds and pharmaceutical products for protection against other infectious diseases."
Trebor Rx's CEO George Irwin stated, "A new level of safety and protection has been achieved by the approval of Trebor's biocidal coated ZENGuard™ mask. Health Care facilities can now offer a better mask to fight against airborne pathogens. This is a game changer in the PPE space, and we look forward to reaching out to health care facilities with this new gold standard in mask protection."
Trebor Rx Corp. is led by George Irwin and Brenda Elliott who are well-known from their long history with the Irwin Toy brand. At present, Trebor Rx is highly involved in disrupting the PPE industry and is raising the bar in setting a new standard of production for much needed PPE items such as face shields, masks and nitrile gloves. The firm is focused on producing items that deliver greater comfort at a more economical cost that creates less medical waste. The company has production facilities in Collingwood, Ont. And Edmonton, Alta. The company aims to be a valued innovative PPE supplier supporting the efforts of frontline healthcare and essential workers.
ZEN Graphene Solutions was described in the report as "a nanotechnology company developing and commercializing next-gen healthcare solutions in the areas of prevention, detection and treatment." The firm is now concentrating its efforts on monetizing ZENGuardTM, which is a patent-pending coating that contains 99% antimicrobial activity. The ZENGuardTM coating offers protection against COVID-19 and shows potential for use in other compounds and pharmaceutical products for protection against other infectious diseases.
ZEN Graphene Solutions has a market cap of around US$419.0 million with approximately 89.9 million shares outstanding. ZENYF shares opened 3% higher today at $3.7953 (+$0.1107, +3.01%) over yesterday's $3.6836 closing price and reached a new 52-week high price this afternoon of $4.2633. The stock has traded today between $378.87 and $4.2633 per share and is currently trading at $4.1941 (+$0.5099, +13.84%).
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