- Phoslock Environmental Technologies (PET) has won a $2 million contract from CEDEA to treat a major drinking reservoir in Rio de Janeiro
- Phoslock uses a water treatment product of the same name to remediate various bodies of water
- Its Phoslock product is certified in North America, Europe, the U.K., Brazil, Australia and China
- Additionally, the company announced operations in Beijing have restarted following the coronavirus scare
- Phoslock is up 10.8 per cent and shares are trading for 82 cents each
Environmental engineer Phoslock Environmental Technologies (PET) has won a contract from CEDEA, to treat a major drinking reservoir in Rio de Janeiro.
The application has already commenced and will span a three month period. The contract has an estimated value of over $2 million.
Phoslock specialises in engineering solutions and water treatments to remediate polluted lakes, rivers, canals and drinking water reservoirs.
The company has a patent for its water treatment product of the same name. Its Phoslock product is certified in North America, Europe, the U.K., Brazil, Australia and China.
It permanently blinds excess phosphorus in the water column and sediments. This prevents the growth of harmful algal blooms which are toxic to animals and humans.
In addition, the company supplies zeolites and good bacteria to improve water bodies.
“With each successful application of Phoslock in lakes, dams and reservoirs, our
ability to dramatically transform heavily polluted waterbodies – even those suffering from eutrophication – adds to increasing global acceptance and demand for our services,” Chairman Laurence Freedman said.
Phoslock has also updated the market on its China operations. The company’s Beijing office is now back at work in lieu of the coronavirus spread. Its factory has been given the green light to re-start operations and production is expected to ramp up over the next month.
The large factory is located in Changxing, within the Zhejiang province. It manufactures the Phoslock technology, along with the zeolite and bacteria materials.
Currently, there is an excess amount of inventory which is likely to last until mid-2020.
Additionally, no water treatments are planned until late March or April.
Phoslock is up 10.8 per cent and shares are trading for 82 cents each at 11:19 am AEDT.