Nanoveu secures US$20m revenue deal and new joint venture agreements

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By Colin Hay - 
Nanoveu ASX NVU revenue deal Rahum Nanotech EyeFly3D South Korea

Nanotechnology developer Nanoveu (ASX: NVU) has expanded its global reach with the signing of a binding heads of agreement (HOA) with South Korean company Rahum Nanotech providing US$19.75 million (~A$30m) under a minimum order requirement over 31 months for EyeFly3D product sales in South Korea.

The new agreement for exclusive distribution rights for Nanoveu’s EyeFly3D technology supersedes a non-binding memorandum of understanding between the two companies signed in November 2023.

It is the second major Asian agreement signed by Nanoveu in just over a week after the company executed a joint venture (JV) agreement with its Chinese manufacturing partner Shenzhen Fullsand Printing & Packaging (Fullsand) on 24 May.

That JV was established to develop and market Fullsand’s software and manufacturing processes with Nanoveu’s proprietary EyeFly3D software and focus on global markets with the exclusion of China.

Sole marketing rights in South Korea

Nanoveu technology to be provided as part of the Rahum agreement includes Glasses-Free 3D products including but not limited to 3D hardware films, 3D companion applications, tablets, phones, large digital displays and all 3D-related peripherals.

Exclusivity period

The Rahum exclusivity spans an initial 31-month period with order requirements increasing progressively to several million pieces of EyeFly3D by the HOA’s conclusion on 31 December 2026.

“Following the signing of the non-binding MOU in November last year, Nanoveu and Rahum have progressed significantly in software development and evaluation of the South Korean market potential for Nanoveu’s EyeFly3D products,” Nanoveu managing director Alfred Chong said.

“This progress has led to the formalisation of a binding agreement for several million EyeFly3D screens.”

“The screens will be suitable for a wide range of Android and Apple iPhones, with screens for tablets also being developed in addition to the agreed minimum quantities.”

State-of-the-art technology

Nanoveu’s EyeFly3D is a film applied to digital displays that allows users to experience 3D without the need for glasses on everyday mobile handheld devices.

The EyeFly3D technology is based on taking a regular plastic film and engineering approximately half a million uniform-sized mini lenses onto its surface, turning the plastic into an add-on screen protector that produces unprecedented, distortion-free, brilliant 3D content on mobile devices.

Fullsand agreement

The JV agreement Nanoveu executed earlier this month with Fullsand combines Nanoveu’s sector expertise with Fullsand’s upgraded manufacturing of 3D films to create compelling 3D glasses-free imaging solutions for a wide range of digital screens.

Fullsand has developed a manufacturing process to produce screens that support 3D viewing on multiple digital devices including mobile phones, tablets and large screen TVs.

Datature collaboration

Nanoveu also signed a licensing and development agreement in mid-May with computer vision leader Datature.

Datature is a leader in computer vision and the two companies will collaborate to co-develop advanced depth perception technology with the aim of dramatically enhancing the 3D image realism of Nanoveu’s AI-imaging platform for EyeFly3D.

The collaboration will also merge Nanoveu’s advanced depth map technology with Datature’s monocular depth estimation, redefining standards in 3D image conversion.

Under the agreement, Nanoveu will retain ownership of the co-developed monocular depth estimation technology, which the company believes represents a significant growth opportunity in the expanding market of 3D imaging and mobile applications.

“These agreements significantly boost our global presence and revenue potential. Partnering with Rahum Nanotech and Fullsand leverages our EyeFly3D technology, enhancing its market reach and ensuring robust development and distribution. The collaborations underscore our commitment to pioneering state-of-the-art, glasses-free 3D solutions for diverse digital platforms,” said Mr Chong.