- PPK Group has joined hands with Xefco Pty Ltd to form a new joint venture company, Survivon Ltd.
- Survivon will soon start the local production of anti-viral, antibacterial face masks using Xefco’s developed technology.
- The stock PPK closed a tad higher today.
ASX-listed PPK Group Limited (ASX: PPK) announced its partnership with Xefco Pty Ltd to form a new joint venture company, Survivon Ltd on 23 September 2021.
Survivon will soon start local production of anti-viral, antibacterial face masks using Xefco’s developed technology.
An independent study by the Peter Doherty Institute for Infection and Immunity has revealed that the technology to be used by Survivon is able to inactivate SARSCoV-2 (the virus associated with COVID-19) in as little as five minutes. Survivon will try to licence this technology to the manufacturers across the world.
In this new joint venture, PPK and Xefco will each own 47.6% stakes with the balance held by a senior manager. Following PPK’s core technology investments into BNNT in particular, this new initiative in the healthcare space is consistent with PPK’s technology commercialisation strategy and focus on nanotechnology breakthroughs with global application in large markets.
The announcement stated that the joint venture will have a production capacity of approximately five million masks every month and will look to increase this capacity.
It should be noted that Xefco is a leading developer of high-level manufacturing methods to build textile technologies with extra functional benefits, particularly antiviral technology.
The partnership, which involves combining the manufacturing assets of PPK’s Mask Innovation business with leading science produced by Xefco in union with Deakin University, signifies a colossal commercialisation opportunity with global demand.