Remote Monitored Systems PLC (LON:RMS) said its Pharm 2 Farm (P2F) subsidiary expects to produce a maximum of 1mln anti-viral face masks in January 2021 and 2mln in February.
The mask-making machine is now expected to be delivered on December 28 at the earliest, it added, with factory acceptance testing of the machine taking place today by manufacturer Lemu Group, to be followed by final finishing and hardening in the coming week.
Once delivery is taken by P2F’s Nottingham Biocity premises, it can begin building production towards a theoretical maximum capacity of 5mln masks per month if the machine is working 24-hours per day, seven days per week.
The board said it is considering how best to top up cash levels, which stood at a net £706,500 as of December 10, 2020, to fund the additional working capital requirements to build sales at wholly-owned P2F.
Working towards a separate external manufacturing agreement with Volz, the German surgical mask manufacturer, Remote Monitored Systems said constructive talks are ongoing.
Volz recently sent a batch of masks produced using P2F’s anti-viral layer for certification.
With the Volz and P2F’s Nottingham-made masks expected to be certified in the first week of January, Remote Monitored Systems said if successful certification is achieved it anticipates placing an order of 0.5mln masks incorporating P2F’s anti-viral layer from Volz for delivery to the UK in January 2021.
Based on strong indicative demand, Remote Monitored Systems expects sales to be a maximum of 1.5mln masks in January and 2mln masks in February and said its “expects to be in a position to convert this demand into firm orders following certification and installation of the production line”.
