Zenova delivers first FX500 extinguishers to US market
Zenova Group announced the successful first deliveries of 13,654 units of its Zenova FX500 handheld aerosol extinguishers for the American market on Monday.
The AIM-traded firm said it heralded the first time that the FX500 was available in the United States.
Petra Industries, a leading consumer technology authority in the distribution sector, was the newly appointed sub-distributor to handle the units.
Of the total, 7,500 units were purchased by Petra from Omnis, Zenova's distribution partner in the US.
The initial delivery was valued at over £0.14m for Zenova and included some promotional support.
The revenue was projected to be recognised within the current financial year.
Given Petra and Omnis's extensive distribution networks and the market reputation, Zenova Group said it was optimistic that order volumes for the FX500 would see a significant upsurge as more distribution channels became operational within the US.
“We are excited to enter the US markets and are looking forward to accelerated expansion into additional distribution channels to provide US customers with personal fire protection through our Zenova FX500 aerosol fire extinguisher,” said chief executive officer Thomas Melchior.
“The Zenova FX500 is uniquely designed to address the increasing risk of household lithium battery fires.”
At 1050 BST, shares in Zenova Group were up 7.32% at 5.5p.
Reporting by Josh White for Sharecast.com.