On course for growth: Parkway looks at project pipeline with a volume of AUD 50 million

The Australian wastewater cleantech Parkway Corporate (ASX: PWN; FRA: 4IP) is benefiting significantly from the acquisition of the established Tankweld Group. The company closed the past quarter with record sales of AUD 4.48 million, mainly due to a strong contribution from the recently acquired Tankweld Group. Cash receipts from customers in the quarter also reached a record level of AUD 4.94 million.

Going forward, Parkway expects a strong operating performance and continued growth in the company’s Industrial Operations (PPS) division. Parkway has an extensive project pipeline, according to the report. The company is increasingly involved in the planning, manufacture and installation of complex water and wastewater treatment infrastructure. According to the quarterly report, Parkway is currently focusing on the implementation of projects that are expected to generate revenues of more than AuD 15 million (including components already completed). The pipeline of project opportunities being actively pursued has an indicative budget of well over AuD 50 million.

Broad fields of application for proprietary process technologies

Broad market opportunities are also opening up in the Process Technologies division (PTT), particularly for the company’s proprietary aMES® technology. Parkway reports inquiries from the mining and minerals industry. During the reporting period, Parkway reportedly “investigated opportunities to assist a major global mining company in assessing the feasibility of implementing a predominantly aMES®-based flowsheet” to increase water and potential mineral recovery at a high-profile critical minerals extraction project constrained by water availability. Subsequent to the reporting period, Parkway and the client negotiated an appropriate project scope that includes a series of evaluations, including pilot activities, with brine from a well-known international mining project.

Workshop on CSG brine concentration and master plan

Preliminary internal assessments indicate that Parkway is likely to be able to provide a highly attractive brine concentration service (lower cost, better outcome) on a fee-for-service basis to CSG companies in Queensland. Over the past decade, the operator of one of the most advanced projects has made significant investments (more than $1 billion) in brine concentration (an incomplete brine disposal solution). However, the remaining three major CSG projects in Queensland continue to face a number of challenges related to upstream brine concentration. As part of the ongoing collaboration with a global energy company, a comprehensive technology review workshop was held with the client. A key topic covered during the workshop was the broader master plan related opportunity and the prospect of building a beneficial brine processing plant or potentially multiple plants. Further details on the next steps for this opportunity are expected shortly.

The upstream concentration and treatment of the wastewater brine would enable further processing of the brine using PPT’s downstream process technologies, which would also utilize Parkway’s electrochemical salt splitting technology, the effectiveness of which the Company has recently successfully demonstrated. The use of this technology could ultimately enable a circular economy that includes full brine processing for one of the largest and most advanced CSG projects in Queensland in the future.