Zeotech (ASX:ZEO) signed a non-binding letter of intent (LOI) with chemical wholesaler Bisley & Company to potentially develop a marketing and distribution framework for AusPozz, the company's metakaolin product, according to a Tuesday filing with the Australian bourse.

The parties have agreed to collaborate, with Bisley undertaking an initial market assessment with the company's customer engagement support to evaluate the commercial potential of AusPozz, the filing said.

The LOI will expire six months from the Nov. 17 start date, and may be terminated by either party through a 20-day written notice, per the filing.

Zeotech shares rose more than 2% in afternoon trade on Tuesday.