Aeris Environmental Ltd (ASX:AEI) has entered into a supply agreement with Impreglon Australia, a multinational manufacturer with 35 years’ experience in the metal finishing industry.
Impreglon will exclusively purchase and apply the AerisCoat corrosion protection and prevention products to all HVAC (heating, ventilation and air conditioning), refrigeration units and coils that are processed at its Australian operations.
Aeris’ patented AerisCoat™ technology forms a permanent corrosion and biofilm resistant coil coating protection for HVAC original equipment manufacturers (OEMs).
Aeris expects initial annual revenue from this contract to be in the $200,000 to $500,000 range.
The agreement was signed after significant technical and commercial due diligence and is expected to grow as joint sales and marketing efforts ramp up.
It is worth noting that Impreglon is a wholly-owned subsidiary of Aalberts Industries N.V. (EPA:AALB), a Dutch public company with revenues of €2.7 billion in 2017 and over 16,000 employees in 50 countries.
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Aeris and Impreglon have commenced operations this week with ten Mitsubishi HVAC units coated by Impreglon on Aeris’ behalf for Visy paper group.
Impreglon and Aeris are now in advanced discussions with a market-leading Australian air-conditioning manufacturer to coat its units with AerisGuard. This business is expected to be both recurring and material.
The AerisGuard duct sealants uses anti-microbial technology to create an effective barrier to seal air leaks in duct work and provides protection agai`nst mould and bacterial growth for up to 10 years.