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DeepVerge signs terms with Microsaic Systems to promote technologies
StockMarketWire.com
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Environmental and life science company DeepVerge said it had signed a non-binding heads of terms with Microsaic Systems to enter a multi-year agreement as non-exclusive agent to promote the latter's technologies.
The agreement, to be completed on or before the 31 March 2021, would allow for the supply of 'miniaturised mass spectrometry contamination detection equipment and services across DeepVerge's network of sales, marketing and distribution channels in laboratory, chemical, biochemical, biofuel and biodegradable plastic and waste-water treatment industries,' the company said.
The heads of terms included provision for an initial order for two units, each worth £50,000, plus up to £150,000 commitment by DeepVerge to install pilot facilities.
Under the agreement, Microsaic was expected to pay to DeepVerge an agency commission based on the revenues received from customers introduced by DeepVerge. The agreement was expected to have an initial period of three years.
At 9:13am: (LON:DVRG) share price was 0p at 22.5p
Story provided by StockMarketWire.com
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