KUALA LUMPUR: K-One Technology Bhd (K-One Tech) has been granted a non-exclusive license agreement (NELA) by NASA Jet Propulsion Laboratory (NASA-JPL), United States (US) to manufacture and distribute the Ventilator Intervention Technology Accessible Locally (VITAL) ventilators worldwide.
K-One Tech said the manufacturing and distribution of the low-cost VITAL ventilator is to meet the shortage of ventilators in specific countries and also to prepare for the second wave of COVID-19 infections as countries begin to lift their respective lockdowns.
In a filing with Bursa Malaysia today, it said that the license allows the company to use, share, distribute, and make available to others, copy, modify and build upon the technology during the license term, among others.
K-One Tech said the VITAL ventilator uses far fewer parts than a conventional ventilator, and the parts are easily available in the market.
"It is a low-cost ventilator, built with less maintenance requirements and can be modified for use in field hospitals to address the shortage of ventilators in the ongoing battle against the COVID-19 pandemic in specific countries,” it said.
Meanwhile it said the NELA will have immaterial impact on the issued share capital and net assets of K-One Tech, but is expected to contribute positively to its earnings for the financial year ending December 31, 2020.
"The business will be funded through internally generated funds,” it added. - Bernama
