TZ inks MOU with Spacesaver Corporation

Company News

TZ Limited (ASX:TZL) has inked a memorandum of understanding with a US-based storage innovator called Spacesaver Corporation. 
 
The technology company says the MOU is for the integration of its smart locking device hardware and software solutions into a range of Spacesaver storage solutions. 
 
The MOU is non-binding and subject to entering into a binding definitive formal agreement within 60 days following an eight month evaluation.  
 
Executive Director Kenneth Ting says the relationship has the potential for TZ’s technology to expand into a wide range of new application areas. 
 
TZ narrowed its net loss to $3.69 million in the first half of the 2015 financial year.