The current European market for fire extinguishers is set to exceed $1.4 billion in 2016. The Company believes that this only accounts for one-quarter of the potential for its Products range.
The Company’s approach to the market is to embrace the current, large FM companies and to encourage them to adopt the Company’s products and to act as a reseller and service provider. There is no other similar product on the market
The Company will operate in each country through regional licences to distributors and resellers.
In on-going discussion with the UK Fire Brigades, the Directors are led to believe that feel that the Company’s Products have a realistic prospect, over time, of becoming a required standard from of fire protection even to the extent of attracting statutory obligations in certain instances.
Interest has also been expressed by HM Prison Service, the NHS and large oil and exploration companies in the Middle East and Africa. Other opportunities are instanced by a potential customer seeking exclusivity for global motor sport applications.
There will be a staged approach and launches over a number of years with conventional extinguishing products adopting our fluid to begin with, then the introduction of our on IP protected products such as smart fire extinguisher and smart aerosol as well as suppression systems.
Future products such as fire retardant products can also be adopted using our solution following some further R&D.