Establishment of Manufacturing Facility in Albania

14 April 2025

Zenova Group PLC

("Zenova", the "Company" or the "Group")

Zenova and AED Form Joint Venture to Establish Manufacturing Facility in Albania Amid Growing Regional Demand

                           JV Expected to Generate Over E2m Over the First Full Year of Operations From May 2025

Zenova Group PLC (AIM: ZED), a leading innovator in fire suppression and temperature management solutions, is pleased to announce the formation of a joint venture with its local sub-distributor, AED Sh.p.K, to establish a new manufacturing facility in Albania. This strategic initiative is designed to support accelerating demand for Zenova's product suite in Albania and surrounding markets, following strong initial sales delivered by AED.

Zenova expects that this manufacturing facility will be fully operational by the middle of May servicing demand AED have developed in the region, and thus the joint venture is projected to generate revenues exceeding €2 million in the first 12 months.  This early demand is expected to be supported by a strong and expanding pipeline of opportunities across key sectors including construction, infrastructure, and government.

AED has made a significant financial commitment to the project and is actively driving business development efforts to support long-term growth.

The facility, located just outside Tirana, has been secured and upgraded by AED to include a purpose-built, two-storey laboratory and office space. Production equipment tailored for Zenova's exclusive range of fire-resistant and temperature management products has arrived from the UK and is currently being offloaded.  Installation and commissioning of the equipment will be overseen by a Zenova-appointed consultant, who will also lead the training of local staff to ensure operational excellence from the outset.

The facility is expected to be fully operational by mid-May and will enable Zenova to efficiently supply the Albanian and surrounding markets, eliminating the delays and costs associated with cross-border trade.

Thomas Melchior, CEO of Zenova Group PLC, commented:
"This joint venture marks a major step forward in Zenova's European expansion strategy. AED has already demonstrated the marke'st appetite for our solutions, and with this new facility, we can respond to that demand faster and more efficiently.  We greatly value AED's investment and commitment to date, and their proactive business development across high-potential sectors. Together, we are well positioned to unlock the full commercial potential of the region."

For further information, please contact:

Zenova Group PLC

Thomas Melchior, CEO

Fiona Rodford, Chairperson

Tel: +44 20 3475 6834

SPARK Advisory Partners Limited (Nominated Adviser)

Matt Davis

Tel: +44 20 3368 3550

Peterhouse Capital Limited (Broker)

Charles Goodfellow

Tel: +44 207 469 0930

About Zenova Group PLC

Zenova Group PLC specializes in the development and supply of advanced fire safety and temperature management technologies for industrial, commercial, and residential sectors. Its product portfolio includes the Zenova FP fire protection paint, Zenova IP thermal insulation paint, and the Zenova FX series of fire extinguishers, all engineered to meet the highest safety and efficiency standards in the industry. The product range is applicable to industrial, commercial, and residential markets.

Zenova FP, fire protection paint

A water based, fire protection paint (also known as a 'thermofoaming' or 'intumescent' paint), which can be used on any surface and colour matched to any colour. When exposed to heat or flames, the paint expands and creates a solid foam-like crust which will not burn and insulates the surface it is painted on. This prevents surfaces from catching fire and stops fire spreading.  It has been tested by global fire industry experts and complies with UK building regulations and the latest UK and European fire safety standards.

Zenova IP, thermal insulation paint

A thermal insulation paint embeds the most modern insulating technology in a thermos-like ultra-thin layer.  It saves energy by increasing the thermal insulation level in commercial and residential buildings. Solar heat can increase the temperature within a building by 75% to 90%. Zenova IP has been independently tested and validated to deflect, absorb and dissipate up to 75% of this heat, thereby reducing the inside temperature by up to 45%.  Suitable for both exterior and interior, on any type of surface

Zenova IR, thermal insulation render

Zenova IR is a ready mixed insulation render that can be applied to internal and external walls in commercial and residential buildings to provide immediate insulation benefits and can be colour matched to any colour.

Zenova FX, fire extinguishers

A fire extinguisher like no other. It puts out class A, B, F and electrical fires fully tested against European EN3 as well as British standards. Available in 6 and 9 litre sizes.

Zenova FX500, aerosol fire extinguisher

The Zenova FX500 is a high-performance handheld fire extinguisher that is tested by independent experts and adheres to the highest industry standards.   Safe for use on any type of fire the Zenova FX500 reduces the risk of reignition. The Zenova FX 500 is quick, easy and safe to operated and has been tested to BS6165 standard.

Zenova CS, automatic ceiling sprinklers

The Zenova CS provides ceiling-mounted fire protection for new builds and can be easily retrofitted into any existing environment to address all types of fire risks

Zenova WB, wildfire barrier

A wildfire barrier fluid (applied via spray wands or aerial drops), which provides a virtual barrier where fire simply will not burn. Repeated tests on a variety of extremely dry wildfire fuels (grasses, hays, brush) demonstrates the incredible fire resistance Zenova WB provides, while remaining viable after application for30+ days in dry conditions.