- GreenBank Capital (GBC) has reached an agreement to acquire a significant stake in CodiKoat
- The CodiKoat application instantly destroys Covid and any other viruses on contact
- CodiKoat’s technology works by using surface-functionalized nanostructures to inactivate viruses instantly
- CodiKoat’s technology has been developed in association with the University of Cambridge, Oxford Innovation and the Cambridge Centre
- The initial deployments of the technology will be in face masks and adhesive acetate film, which can be applied to a wide range of surfaces for instant protection
- GreenBank has reached an agreement to acquire up to an initial 15% of CodiKoat
- GreenBank Captital is a next-generation merchant banking business
- GreenBank Capital (GBC) is up 15.48 per cent, trading at C$1.94 per share at 1:45 pm ET
GreenBank Capital (GBC) has reached an agreement to acquire a significant stake in CodiKoat, the producer of a destroyer of the COVID-19 virus.
Any surface treated with CodiKoat products instantly becomes a Covid-destroying medium. From touchscreen terminals, to hospital surfaces and supermarket trolley handles, as well as masks and gloves, the CodiKoat application instantly destroys Covid and any other viruses on contact.
CodiKoat are also optimistic that deploying air filters coated with CodiKoat’s revolutionary and patent-pending products could turn air conditioners or air filtration units into Covid-destroying air purifiers, enhancing the safety of indoor spaces.
Whilst vaccines are beginning to provide significant protection against current strains of Covid in a number of countries, it is expected by many that existing and future mutations of the virus, as well as the emergence of other novel viruses, will continue to pose significant threats to world health.
It remains likely that, if unchecked, such mutations or novel viruses would have the capacity to cause large-scale deaths and a return to severely damaging economic lockdowns.
CodiKoat’s innovative, virus-destroying technology is capable of radically enhancing the fight against such threats. CodiKoat management believes that, in time, there may well be international regulatory requirements for products and surfaces regularly coming into contact with people to be coated with the type of products that CodiKoat has already developed and is also developing.
CodiKoat’s technology works by using surface-functionalized nanostructures to inactivate viruses instantly. It also the same effect on fungi and bacteria. CodiKoat has developed a high-precision coating process to apply their product in a highly controllable and uniform manner. CodiKoat technology can coat any surface with nanoparticles of any composition and size. CodiKoat materials can be easily tuned at an atomic scale and integrated into existing manufacturing lines for any product.
Existing technologies generally use silver or copper-based particles to kill viruses and bacteria. However, these materials can take hours to produce any antiviral/antimicrobial effect, are significantly less effective than CodiKoat, and last only a limited time (typically 30-60 days). CodiKoat’s antiviral, antifungal and antibacterial effects are permanent. CodiKoat’s unique solution uses a weak electric current to alter the surface charge characteristic of the virus particles. This modification in surface charge destabilizes the electrokinetic properties of the viruses and facilitates the aggregation of these particles. The aggregated viral particles lose their ability to enter host cells and infect them. This mechanism happens in a short time scale (< 10 seconds) producing a fast-acting inactivation of viral particles.
CodiKoat’s technology has been developed in association with the University of Cambridge, Oxford Innovation and the Cambridge Centre, partly with grant funding provided by the United Kingdom government’s Innovate UK Fund.
The initial deployments of the technology will be in face masks and adhesive acetate film which can be applied to any number of surfaces to give life-long protection.
CodiKoat products are currently being trialled in offices as well as with a leading chain of UK Care Homes, ATM provider, Cash On The Move, and the Royal Opera House,
That CodiKoat products can also permanently protect surfaces against all bacteria, offers the possibility of vastly improving sanitation in hospitals and dining areas, as well as eradicating the kind of germs that are found in public conveniences and surrounding areas.
In the US alone, hospital-acquired infections are thought to cost the US economy upwards of US$30bn a year – and that was before the emergence of Covid.
Terms of investment
GreenBank has reached an agreement to acquire up to an initial 15% of CodiKoat.
The Company will pay £540,000 (C$930,000) for 5% of CodiKoat’s shares and has been granted a twelve-month option to acquire a further 10% of CodiKoat at the lower of a £100m (C$172m) valuation or the price at which CodiKoat raises any further funding.
CodiKoat has indicated that they would like to work with GreenBank in shaping the company’s strategy going forward, which may include a listing on the Canadian Securities Exchange with GreenBank’s help.
Commenting on the investment in CodiKoat and the developing relationship, David Lonsdale, CEO of GreenBank said,
“CodiKoat have developed a Covid destroying product line with hugely positive ramifications for the entire world, as we see the continuing devastating effects of Covid in India and elsewhere. The prevalence of Covid mutations is providing an ever-present threat of return to lockdown should those mutations successfully evade vaccine defences, and CodiKoat have developed a Covid destroying technology that has the potential to markedly reduce the incidence of Covid, Covid mutations and other life threatening novel viruses in public spaces. We believe CodiKoat has the potential to help radically improve the chances of normal life resuming on a more stable and permanent basis throughout the world, and we are therefore thrilled to play our part in helping CodiKoat fulfil its potential to significantly enhance the safety and wellbeing of so many people”.
Raj Sharma of CodiKoat said,
“We are delighted to be working with GreenBank Capital, the next generation Merchant Bank, as we bring to market our crucial life-saving suite of products. Time is of the essence in bringing our products to market and GreenBank have shown themselves to be nimble, innovative and professional and we are really excited to be moving towards listing our company at the earliest opportunity in order to help maximise our scale of operations .”
GreenBank is a next generation merchant banking business that has a flexible low-cost overhead structure designed to maximize profitability.
GreenBank Capital (GBC) is up 15.48 per cent, trading at C$1.94 per share at 1:45 pm ET.