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PET to manufacture and sell reusable phosphate absorption product

Environment
ASX:PET      MCAP $15.60M
18 August 2019 22:39 (AEST)

Environmental company, Phoslock Environmental Technologies (PET) has signed a commercial-in-confidence agreement to manufacture, sell and distribute a re-useable phosphorous absorption product.

This product can be used to capture and remove phosphorous from running water in filter systems, canals, wetlands and rivers. Its high capacity and selectivity makes it suitable for treating in-place applications.

If a water body has a high concentrate of phosphorous, harmful algal blooms can form which leads to deteriorating health and water quality.

If the phosphorous was left in the water bodies without intervening then the algal blooms will dominate the area and throw out the balance of the natural environment.

In humans an abundance of phosphate can be extremely toxic and cause vomiting, nausea, dizziness and diarrhoea. High levels can also affect the body’s ability to effectively use other minerals such as iron, magnesium, zinc and calcium.

PET’s process uses absorbent, re-usable bags with nanoparticles which ensures the rapid intake of phosphorous as the water flows through.

This captured phosphorous is not subject to leaching or loss even under extreme environmental conditions and can be removed and sold as a slow-release fertiliser.

The product has already proven effective in stormwater and agricultural drainage applications with capture rates of up to 80 per cent phosphorus.

PET has already established a development team to advance the new product with commercial quantities expected to be available by mid-2020.

The international university that helped develop the product will receive royalties from all product sales.

This product will compliment PTC’s Phoslock water treatment product which is primarily used for the treatment of large water bodies requiring rapid treatment and permanent lock-up of phosphorus.

In May 2019 the Chinese government placed a $1 million order for Phoslock in order to clean its waterways to boost tourism.

Chairman Laurence Freedman says this new product will give PET two phosphorous absorption products to choose from when it comes to future projects.

“This re-usable and recyclable product complements and adds to the applications we can execute and will be a source of additional revenue for PET as the removed phosphorous can be used to produce a slow release fertiliser,” he said.

“The world is awash with excess phosphate in lakes, reservoirs, river, stormwater and agricultural drainage as well as the groundwater, so the market it enormous and growing, magnified by global warming.”

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