Dais Greatly Expands ConsERV Sales Distribution and Aqualyte Nanomaterial Use with Zhejiang Menred Environmental Tech Co., Ltd, in China
1:30 pm ET March 15, 2018 (Globe Newswire) Print
Dais Analytic Corporation (OTCQB: DLYT), a commercial nanotechnology materials business selling its industry-changing nanomaterial technology into the worldwide water, air and energy markets announced today it has widely expanded its previous multi-year agreement with Zhejiang Menred Environmental Tech Co., Ltd ("Menred"), located in Zhejiang province, China.
The expanded relationship includes Menred using Dais's Aqualyte nanomaterials, ConsERV core designs, and the ConsERV brand name with all their energy recovery ventilation products manufactured and sold into the residential and commercial heating, ventilation, and air-conditioning (HVAC) markets by its 30 sales offices in Greater China.
The agreement contains provisions for sales minimums, royalties paid to Dais, product development, and allows for the sourcing of key components by Dais from Menred for Dais's use in its growing energy recovery ventilation business in other parts of the world at improved pricing.
(The statement above is huge! - in my humble opinion, of course)
"The dedication and professionalism of the people at Menred, and the diversity, reputation, and deep sales channels for its products attracted Dais to create the first agreement in mid-2017. The ensuing interaction between the companies during the first few months of the initial agreement was the catalyst for the broader relationship," said Tim Tangredi, CEO and President of Dais. "We project 2018 revenues to exceed $1.1M with this cooperation as it ramps up, and healthy increases in following years as more product, with projected innovations, is introduced and sold into receptive markets in China and North America. This underscores the international appeal for the Aqualyte(TM) nanomaterial and the field proven valued added products manufactured containing our disruptive nanomaterials."
"We believe the cooperation between Menred and Dais will provide significant benefits to both companies," says Zhang Kai Lei ("Carrie"), Dais's VP - Technical Marketing in Asia. "Dais's ConsERV product line has proven market-leading performance and durability, and when combined with Menred's manufacturing, sales and marketing expertise, as evidenced by their steady growth in the China market, the companies reap the benefits of selling to a broader customer base than either could do alone."
"Our planned approach is for Dais to source key finished components from Menred's operations and for Menred to source critical components from Dais," added Dais's Chief Operating Officer, John Herrin. "Building on both company's strengths is believed to put both in a better position to gain share in the growing, competitive markets."
Dais and Menred will ramp up full commercialization of Menred made ConsERV components and products in China with completion targeted for the 3rd quarter of 2018.
AI
