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24 November 2021

Zenova Group PLC (AIM: ZED)

Zenova secures €9.8 million contract for its products in Europe

Zenova Group PLC ("Zenova", the "Company" or the "Group"), a provider of innovative fire safety and heat management technology and products, is pleased to announce that it has secured a major contract for the supply of its products in four European countries.

The three-year contract, which commences on 1 January 2022, is with a Spanish company that will become an Authorised Distributor of Zenova products and will promote and sell them to its clients in Spain, Germany, Austria, and Switzerland. Its clients include a German business that is a leading international specialist in the production of ready-to-use high-tech coatings, and has an established salesforce, warehousing and distribution infrastructure.

Under the terms of the contract, the Authorised Distributor has committed to purchase a minimum value of €9.8 million of Zenova's products over the next three-years, with €1.8 million due in 2022. Products the Authorised Distributer will promote and sell in these countries include Zenova's insulating render (IR), insulating paint (IP) and fire-resistant paint (FP), plus fire safety products the Company plans to launch in 2022.

Commenting on the news, Tony Crawley, Chief Executive of Zenova Group PLC said: "When Zenova listed on AIM in July 2021, we were already discussing the quality, efficiency and ecological credentials of our fire safety and temperature management products with a number of potential customers around the world. In securing this new contract, it illustrates how we are gaining traction in bringing these customers on board, and the appetite for our products, even at this early stage.

"This contract also provides us with a foothold in Europe, which is a substantial market in which we believe there is significant opportunity for growth. We are confident of building Zenova into a provider of independently certified and globally recognised fire-safety and temperature management products and solutions."

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Note to Editors:

The Group, through Zenova Ltd, is the holder of intellectual property that underpins a suite of fire safety and temperature management products and technology. The product range is applicable to industrial, commercial, and residential markets. The Group's products include fire retardant paints, insulating paints and render, fire extinguishing fluid and applications. Through innovative development, and a refined formulation and development process, Zenova provides industry leading solutions across a range of fire protection and temperature management problems, comprising:

Zenova FP

A water-based fire-resistant paint that prevents ignition and spread of fire. It can be used in commercial, industrial, and domestic applications on variety of materials, from wood to metal.

Zenova FX

Patent pending fire extinguisher filled with proprietary Zenova Fluid (Zenova FXB) that extinguishes all types of fires, reduces chances of re-ignition, works in cold (-15 ̊C) conditions, is non-toxic and does not produce harmful by-products.

Zenova IP

Thermal insulating paint that creates a thermal barrier, provides thermal reflection of sunrays & infrared radiation, anti-condensation, and anti-mould properties. It can be applied to virtually any exterior or interior material, regardless of the surface.

Zenova IR

Thermal insulating render to enhance the effectiveness of insulation by creating a thermo shield. It fills all cavities and gaps regardless of geometric shape and creates a vacuum - the most effective insulator.

Zenova CS

Patent pending next generation ceiling sprinkler filled with proprietary Zenova Fluid (Zenova FXB) that removes the need to install large fluid tanks, piping, complicated equipment, and software. This sprinkler could be installed in the kitchen.

 The Group has achieved this without compromising the sustainability of natural and economical resources, including personal health and safety, with ecologically sound products.

Further information on the Group can be found at www.zenovagroup.com