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Nanoveu Limited (ASX:NVU) is a technology company deploying nanotechnology in vision applications for consumer devices. Its competitive advantage includes cost-effective nanostructured film and high 2D and 3D image quality.
Its EyeFly3D, a nano-imprinted screen protector for mobile phones, helps the person in viewing 3D images by quickly transforming 2D videos and photos on mobile devices into 3D ones by using both software (Apps) and hardware (Screen Protector).
The EyeFly3D Pix application enables the users to take 3D photos with a single click. In addition, people can use the âfun iconâ feature to customize and share images via any social media channel or email. With the integration of Dropbox into the EyeFly3D Vid app, users can now stream their cloud stored videos in 3D.
Today, the company has announced a Research Collaboration Agreement (RCA) with Nanyang Technological University (NTU) for the deployment of its new vision correction product, EyeFyx with the conditions of all intellectual property (IP) created or developed to be jointly owned. NVU will have the exclusive rights for worldwide commercialization; and NVU shall hold sole discretion to file IP protection applications.
NTU, situated in Singapore, is a research-intensive public university. It is ranked 12th in the world. EyeFyx is again a nanotech-based screen protector used over a smart device/tablet/laptop. By using an appropriate application, it has a feature of helping the people experiencing hyperopia or presbyopia. It manipulates the pixels to reconstruct the userâs dioptre which results in sharp displayed text.
NVU had previously secured in-principle funding of S$967,200 from the Singapore Governmentâs Industry Alignment Fund to collaborate with NTU on the EyeFyx project. This funding will be used to provide resources directly for the project under which NVU will partner with NTU to develop EyeFyx. The S$967,200 grant is structured such that the Singapore Government will directly fund the cost of labour and equipment provided by NTU and cover the costs of certain operating expenses and overheads specified in the approved project budget.
Over the next 24 months, NTU will be investing S$1,167,200 (Including Singapore Government Grant Funding). NVU will bring in S$783,840 along with the services of key staff to manage the project and to collaborate. It is expected the research project will be fully funded over the 24-month duration.
While the EyeFyx technology can be incorporated into many digital devices ranging from phones to cash registers to Point-of-Sale displays and car displays, the initial focus will be on smartphones due to the large installed base worldwide. NVU is currently expanding its distribution channels using dual retail and wholesale distribution strategy adding EyeFyx products to the offerings of these channel partners.
On 30TH August 2018, the company proposed an IPO which closed on 7TH November 2018. The initial offering was oversubscribed and NVU accepted a subscription of A$6 million with the admission to ASX on 30TH November 2018. On 3RD December 2018, the company announced the commencement of its sales.
The closing price of the scrip on 30 November 2018 was 13 cents and post that the price has been falling on a consistent basis. With the close of trading hours today, the share price is quoted at 8 cents with a dip of 5.9%. Companyâs stock has fallen by 35% from the date of its listing.
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