A DEAL between two local businesses struck more than 12 months ago to develop nanotechnology for outdoor timber coverings has yielded its first product.
A DEAL between two local businesses struck more than 12 months ago to develop nanotechnology for outdoor timber coverings has yielded its first product.
Building and renovation product company Bondall has released, Monocel, a new clear timber coating product that incorporates nanotechnology developed by fellow WA company Advanced Powder Technology.
APT is well known for its ZinClear product, which as the name suggests is a sunscreen zinc that is transparent on the skin.
Bondall has used a similar APT technology for use in its new timber coating product, Monocel, and according to Bondall marketing manager Alvin Brodie it doubles the lifetime of the product.
“You can’t notice the difference in application because it is clear but the zinc technology enables the coating to last twice as long as before,” Mr Brodie said.
“It offers consumers a product that lasts and provides better value. This product does not cost any more than the previous one and they do not have to recoat in 12 months’ time. They can do it in two to three years’ time.”
Monocel can be used on outdoor house fixtures, doors and furniture.
Mr Brodie said Bondall was investing in further R&D to use the nanotechnology across a range of other product offerings.
“If you look at the market for DIY offerings it has grown 8 per cent [in the past 12 months]” he said.
Monocel is retailing through Bunnings and Mitre 10, as well as local hardware suppliers.
A marketing campaign is being launched to educate its distribution channel and consumers about the added benefits of Monocel.
“It’s an awareness campaign to create awareness of the brand in the retail channel and the final end user. We are advertising in Habitat [in The West Australian] and we are doing some commercials,” Mr Brodie said.
APT is currently in the midst of a multi-million-dollar equity raising, with plans for Australian Stock Exchange listing firmly on the agenda.
APT business development manager Brian Innes said the company had raised $640,000 and the APT board was currently assessing a lucrative deal.
“We are progressing through and we have an exciting deal on the table at the moment. The board is in the process of deciding on whether to take up the offer or not,” Mr Brodie said.
