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Eden Innovations (ASX:EDE) has seen its share price climb over +6% higher in Thursday’s late morning trades after the company unveiled the latest trajectory for its carbon nanotube-backed materials technology: Data centres.
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That news has been enough to see as many shares trade hands in one morning as the 4wAvg, with $700K finding its way into EDE via so many invisible hands on Thursday. With NVIDIA’s earnings overnight bringing yet another wave of confidence to the still-vulnerable-to-doubt AI narrative, it’s perhaps not surprising.
So it was good timing that Eden recently decided to acquire “research and development equipment” that will help EDE “better assist all industries with a strong focus on data centres” using carbon nanotube-enriched concrete, EDE’s flagship.
EDE will be examining whether its concrete formulation can help data centre operators better dissipate heat, and whether or not EDE’s formulation is more protective against radio frequency shielding – including electromagnetic pulse weapons and solar flares.
If Eden pivots into the defence narrative, that would be a noteworthy evolution in the company’s overall strategy. But for now, a focus on R&D implies early days.
“The decision follows the Company’s transition to a debt-free position (subject to shareholder approval), strengthened balance sheet and record demand for its concrete additives powered by its patented carbon nanotube technology,” EDE said on Thursday.
The Oz company pointed to its existing approvals with over twenty U.S. [state] transportation Departments as evidence of relationship-building and, all cards in order, the company will be able to persuade builders its EdenCrete product ultimately offers cheaper construction costs.
EDE last traded at 17cps.
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