Zoono Group Limited (ASX:ZNO) (Zoono) is pleased to announce that it has signed a distribution agreement with Zoono USA LLC, Zoono’s USA distribution partner, and MicroSonic LLC (MicroSonic) to supply its innovative antimicrobial products exclusively to Turtle Wax, Inc. (Turtle Wax), the ‘Most Innovative Brand in Car Care,’ for the car wash and automotive industries.
Following twelve months of extensive testing and trials utilising Zoono Z71 Microbe Shield, the team collaboratively created a proprietary antimicrobial system.
The agreement also gives MicroSonic rights to the Cruise Industry that has had well publicised issues regarding on-board bacterial and viral outbreaks. The sales volumes agreed include the Cruise Industry.
Minimum MicroSonic Zoono Z-71 Microbe Shield purchase commitments under the agreement are:
- US$2m in calendar year 2020;
- US$3m in calendar year 2021;
- US$6m in calendar year 2022;
- US$12m in calendar year 2023
And thereafter increasing by 10% per annum.
Key terms of the distribution agreement between Zoono USA and MicroSonic are:
- an initial 10-year term;
- minimum annual performance (volume) requirements; and
- either party may terminate the agreement with immediate effect for breach or insolvency.
In addition, Zoono has rights to terminate if there is a material change of control of MicroSonic or it fails to achieve its minimum performance requirements. MicroSonic has exclusivity to the automotive and cruise line industries globally. There are no conditions precedent.
Mr. Paul Hyslop, Managing Director, commented:
“We are very pleased to be able to announce this agreement following twelve months of extensive testing. This agreement again demonstrates the versatility of Zoono’s antimicrobial product with additional industries being able to benefit from its effectiveness. Testing and trials are currently being undertaken by other potential partners in multiple industries and we hope to announce these agreements as they come to fruition.”
For further information, please contact:
M: +64 21 659 977
E: [email protected]
Zoono Group Limited is a global biotech company that develops, manufactures and distributes a suite of scientifically-validated, long-lasting and environmentally-friendly antimicrobial solutions. Zoono’s mission is to improve health and well-being through innovative, safe, non-toxic and durable germ protection.
Zoono produces sprays, wipes and foams suited for skin care, surface sanitisers, and mould remediation treatments. The products are based on the ‘ZOONO molecule’, a unique antimicrobial molecule that bonds to any surface and kills pathogens including bacteria, viruses, algae, fungi and mould.
Zoono’s products have received numerous regulatory approvals and the company’s technology claims are supported by independent testing conducted in laboratories worldwide. Zoono is headquartered in New Zealand and its products are available globally.
To learn more, please visit: www.zoono.com
About MicroSonic LLC:
MicroSonic Solutions is a disruptive science and technology company which developed a unique microbe prevention and remediation system for use in a variety of large industries.
About Turtle Wax:
The Turtle Wax story started with the launch of the first-ever bottled car wax in 1944. Nearly 75 years later, the ‘Most Innovative Brand in Car Care’ is still capturing the attention of the auto appearance category as the No. 1 selling brand in spray wax, car wash, carpet & fabric care, and more. With product distribution in more than 90 countries, the Turtle Wax brand resonates around the globe, but the brand’s heart remains in its hometown of Chicago, where award-winning innovation is developed to this day.