Renergen Limited (ASX:RLT) and DPD Laser (Limited) have entered into an agreement for the manufacture and purchase of the first 110 Cryo-Vacc cases, following the launch of Renergen’s Cryo- Vacc storage solution.
DPD Laser is one of South Africa’s leading express courier companies that has been proudly serving South Africa for over 30 years.
The key terms of the agreement with DPD Laser are:
- The agreement relates to a fixed purchase of 110 Cryo-Vacc cases in a combination of all three sizes; and
- The Cryo-Vacc cases will be delivered in May.
Whilst the agreement with DPD Laser is not considered material to the company from a revenue perspective, it represents a significant milestone for the company regarding the commencement of manufacturing of the Cryo-Vacc to its customers.
Renergen CEO. Stefano Marani, said the agreement has been completed ahead of the launch of Phase 2 vaccination programme for SA. Renergen has commenced construction of the 110 Cryo-Vacc cases for delivery to DPD Laser, which is expected to be completed by the end of May 2021.
DPD Laser will offer the Cryo-Vacc cases to the market on a monthly rental arrangement, including the maintenance, delivery, and collection of the Cryo-Vacc cases from respective maintenance points.
The three sizes offered currently include a large case (up to 2,400 vials), a medium case (up to 1,200 vials and a smaller case (up to 240 vials) which is ideal for smaller vaccination points such as pharmacies and medical practices.
This is an exciting time and another milestone for Renergen, and we look forward to working with DDP Laser in rolling out the Cryo-Vacc,” Mr Marani said.
“The prototype was put through its paces in a first validation phase and was purely focused on temperature distribution and stability. Notably, the Cryo-Vacc passed successfully. We saw areas where we could improve the design during this process and resubmitted it for another round of validation yesterday. Many of the original components were replaced or improved upon. We do not anticipate updating the market with this validation, as it is merely a repeat of the previous validation using different components.
“We believe the technology works, and as time progresses, we will continue to enhance and improve the Cryo-Vacc as we gain valuable data from people in the field using the product. The analogy we see here is that version 12 of a smartphone was not the first version released; they got there over time.
‘Cryo-Vacc will continue to evolve, and this is the exciting part as it becomes more flexible and useful in the field, which is the goal,” said Renergen CEO Stefano Marani.
