Operational Update

RNS Number : 5454Q

Braveheart Investment Group plc

19 June 2020

 

19 June 2020

Braveheart Investment Group plc

("Braveheart" or "the Group")

Further re. Operational Update

Braveheart Investment Group (AIM: BRH), reports that, further to the announcement on 23 April 2020 regarding the increase in production capacity to 2,000 litres per day by the end of May by Pharm 2 Farm Limited ("P2F") (holding 51.72%) of medical grade alcohol hand sanitiser gel, this was achieved on schedule and as planned.  However, the market price of medical grade hand sanitiser has fallen steadily from an average of approximately £25 per litre in April 2020 to a current price of approximately £3 per litre.  In addition, certain producers are now providing medical grade hand sanitiser free of charge to certain organisations.

In light of the steep decline in the price of medical grade hand sanitiser and the continuing demand for nanoparticle production, P2F has decided to switch its production capabilities back to nanoparticle production and to cease the production of medical grade hand sanitiser. Two new reactors were commissioned by P2F this week, both capable of producing over 10kg per hour of nanoparticles each. This extra capacity will feed into existing and new projects, including hydroponic plant feed, combating citrus greening disease and COVID-19 face mask protection.

For further information:
	Braveheart Investment Group plc Tel: [phone] Viv Hallam, Executive Director Allenby Capital Limited (Nominated Adviser and Joint Broker) Tel: [phone] David Worlidge / Nicholas Chambers Peterhouse Capital Limited (Joint Broker) Tel: [phone] Heena Karani / Lucy Williams

 

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