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Leading technology developer SciDev (ASX:SDV) is entering the European market with its hydro tech in a bid to remove PFAS from water.
PFAS refers to a class of chemicals often colloquially referred to as ‘forever chemicals’ given they persist in the environment – and human body – on multi-generational timescales (where soils and aqueous environments are concerned.)
They’ve historically been used en-masse in firefighting foam typically used at airports for large-scale burns but also in non-stick pans and, well, just about everything else.
Enter SciDev. The company is ultimately trying to come up with a solution that removes PFAS from targeted water sources post-treatment – which makes its value proposition obvious.
So now, SciDev has inked a deal with Sweden’s Hydro Solutions for a “containerised PFAS treatment system” to remediate a contaminated landfill site in the northeast of the country.
The contract is worth nearly half a mill for SDV – A$475,000 – and the company noted the “potential” of a multi-phase project on Wednesday.
“Securing our first commercial order for PFAS remediation in Europe is a significant milestone and demonstrates the demand for our technologies and our capability to sell into new regions,” SciDev CEO Sean Halpin said.
“The market opportunity in Europe is large and rapidly growing, with more than 17,000 sites around Europe already confirmed for PFAS contamination and another 21,000 sites with suspected contamination.
“This is the tip of the iceberg.”
SDV last traded at 45.5cps.
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