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- Aerison Group (AE1) wins multiple new contracts within the rare earths, agriculture, green energy and chemical sectors with a combined value of $100 million
- The new contracts include assistance for projects in Western Australia’s Pilbara Region and South Australia
- Aerison says the contracts bring its “pipeline of opportunities” to more than $5 billion, with the company’s order book currently around $370 million
- The company says the contracts will help increase its exposure to key Australian growth markets and help bolster its industry diversification strategy
- Shares in AE1 are trading grey at 17.5 cents per share at 2:47 pm AEDT
Aerison Group (AE1) has won multiple new contracts within the Australian rare earths, agriculture, green energy and chemical sectors with a combined value of $100 million.
The new contracts include assistance for projects in Western Australia’s Pilbara Region and South Australia.
Aerison said its “pipeline of opportunities” continued to track over $5 billion, with the company’s order book currently at around $370 million. This includes works under contract and a forward estimate of regular and ongoing works.
The new contract wins include the delivery of air pollution control solutions to a number of iron ore processing facilities in the Pilbara through Aerison’s niche environmental engineering and construction services division.
Also, the company will manufacture and install a raw materials conveyor system for WA-based CSBP, as part of the Wesfarmers (WES) chemicals, energy and fertilisers portfolio.
Another win came in the form of SMPE&I construction services in WA for the agriculture sector, alongside an early contractor involvement process for the NeuRizer Urea project in South Australia. AE1 will also provide electrical infrastructure for the Yuri Green hydrogen project in the Pilbara.
Aerison said the contracts would help increase its exposure to key Australian growth markets.
“Aerison’s strength is its diversified customer base, and we continue to strategically broaden our exposure to exciting growth sectors in the Australian market,” Aerison Non-Executive Chairman Bronwyn Barnes said.
“We are strongly positioned to capitalise on our growing opportunities pipeline over the next six-to-twelve months and will continue to pursue opportunities aligned with our core strategy.”
Aerison CEO Giuseppe Leone said the contracts further bolstered the company’s diversification strategy.
“These contract awards are an important step in delivering our industry diversification strategy, with an increasing focus on the critical mineral, agriculture and chemicals sectors,” Mr Leone said.
“Looking ahead, our pipeline of identified opportunities continues to track steadily above $5 billion and supports a more diversified revenue stream to complement our current iron ore portfolio of projects.”
The company expects awards in the coming months to help support its growth targets for the 2023 calendar year.
Shares in AE1 were trading grey at 17.5 cents per share at 2:47 pm AEDT.
