Zenova Group has developed fire extinguisher fluids and fire retardant paints that can be applied to many types of surface. Increasing fire regulation will provide opportunities for Zenova.
The global fire resistant coatings market is estimated to be worth $933m and there is scope for the technology to be used in other coatings that are not currently fire retardant. The insulating paint market is current valued at around $9bn.The fire extinguisher market is expected to grow at 4.6% a year and reach $8.3bn in 2027. There is also potential for ceiling sprinklers.
The marketing focus is construction and industrial businesses and the public sector. The UK, Canada and Australia are the initial markets.
The share price has risen to 22.5p (22p/23p), which values Zenova at £21m. The cash...