That Covid-19 transformed the world’s hygiene habits is well-known. What’s more? Organic healthcare products company Skin Elements (ASX: SKN) made the most of it. For instance, its hospital grade disinfectant SuprCuvr is being used globally (and generously), thus positioning the Company for profitability.
Rest assured, its success wasn’t all thanks to the pandemic, given that the Company invested considerably in research and development of new applications for its natural anti-microbial technologies. It even received a R&D Rebate of $984k for the R&D expenditure invested in the year to June 2022.
Moreover, Skin Elements has an equity funding facility agreement with LDA Capital, under which LDA Capital has agreed to provide Skin Elements with up to $20 million in committed equity capital over a period of 36 months. To top that, on 26 October 2022, the Company informed that it had raised $700k in cash (before costs) in a private placement to sophisticated investors. All these collections were bolstered by customer receipts of $42k in the quarter. Safe to say, people love their organic products.
Executive Chairman, Mr Peter Malone, said, “Recent years have emphasised the importance of a healthy lifestyle and healthy planet and there is increasing evidence, knowledge and awareness of the effects of harmful, aggressive toxic ingredients on our bodies, food chain, lands and waterways. Skin Elements is at the forefront of this innovation revolution with its SE Formula. With the Company’s SE Formula product ranges in production, Skin Elements continues to work closely with key distributors to position into and develop expanding sales opportunities for the SE Formula. We are excited by the transition from a primarily R&D focus to one of expanded commercialisation and sales growth potential.”
Skin Elements’ trademark SE Formula is a high performance proprietary all-natural plant based antimicrobial technology, which is used in the Company’s proprietary award winning brands including Invisi-Shield SuprCuvr plant-based hospital grade disinfectant range, the Soléo Organics natural sunscreen brand, the PapayaActivs therapeutic skincare range and the Elizabeth Jane Natural Cosmetics.
The Company is engaging in active trials and assessment of opportunities to use the SE Formula in more products.
Pacific Health is the designated marketer and distributor of SuprCuvr, which has helped the Company get its products to government departments in Western Australia and Queensland. It is also pursuing sales and distribution opportunities with the New South Wales and Victoria governments.
Plus, Western Australian based Thomson Coachlines recently adopted SuprCuvr for use in its bus fleet. With over 97,000 buses and coaches operated in Australia by 2,000 registered bus operators transporting over 1.5 million passengers each year, Thompson demonstrates a significant market opportunity for SuprCuvr in this application.
Internationally, Hong Kong-based cleaning company Healthy Giant Limited has recently started using and selling SuprCuvr to the Hong Kong government and several global companies in the country.
At a time when natural health care is all the rage, Skin Elements is making sure to take advantage of the increasing demand.
Alinda is a Business Reporter for The Sentiment
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