Parkway Corporate reveals new details on go-to-market strategy for wastewater technology

For many listed companies holding their annual general meeting is a chore. For young Australian wastewater specialist Parkway Corporate (ASX: PWN; FRA: 4IP), however, the AGM traditionally has a high priority. This year, investors were once again able to learn important new details about the commercialization of Parkway’s wastewater technology, which were announced to the public for the first time in this form.

Meanwhile, the operating business is growing and is providing an increasingly solid financial basis with healthy organic growth. The first quarter of the 2025 financial year shows a strong positive trend. At AUD 4.04 million, revenue reached almost half of the revenue for the entire financial year 2024. Below, we pick out what we consider to be the most important charts from the AGM presentation in order to comment on them briefly. At this point, we strongly recommend the abridged video recording of the AGM with the presentation by Managing Director Bahay Ozcakmak. The link to the PDF of the presentation can be found here: https://goldinvest.de/wp-content/uploads/2024/12/2024-11-27-AGM-Presentation.pdf (in particular pages 27 and 28).

Figure 1: Turnover is growing. The trend is towards profitability despite further investments in connection with Parkway’s technology.

Figure 2: Current examples of major industrial projects demonstrate Parkway’s considerably enhanced technical capabilities for handling large-scale projects. The project pipeline is well filled.

Figure 3: The operating business (Parkway Process Solutions) forms the launch pad for Parkway to enter the market with Parkway Process Technologies in areas including wastewater solutions for the multi-billion dollar CSG industry in Queensland. As the chart suggests, Parkway management expects the Group’s revenue to multiply by FY26. At the same time, the high-margin technology business is expected to make an increasing contribution with recurring revenues by then.

Figure 4: With its subsidiary Queensland Brine Solutions (QBS), Parkway aims to gradually transform the problematic wastewater from the CSG industry into a genuine circular economy. The keyword for the three-stage solution to the problem is Integrated Brine Management Solutions (“IBMS”). In principle, Parkway wants to divide the problem into an upstream and a downstream area: initially, a first central upstream hub (QBS-U1) is planned to pre-concentrate the residual brine. A downstream processing plant (QBS-D) near the coast is to follow later.

As QBS owns the underlying process technologies, Parkway is committed to having QBS lead the implementation of the Integrated Brine Management Solutions (“IBMS”) to ensure successful project delivery. More capital is required at each stage of the IBMS. Parkway believes that it can progressively sell shares to third parties at the project or subsidiary level as key milestones are reached prior to development. The individual phases include, firstly, the pre-treatment plants at around 10 sites with investment costs of less than $10 million per site. QBS intends to own and operate these facilities itself. For the central upstream hubs, 2 sites are under discussion with investment costs of less than $100 million per hub. QBS is prepared to sell minority interests in these facilities. For the central downstream hub, Parkway has just secured a site near the coast by letter of intent. The investment costs for this facility are estimated at more than 200 million dollars. Parkway therefore intends to sell majority interests in this operation.

The specialty chemicals division of Worley, a strategic partner of Parkway, is closely involved in the planning. In parallel with discussions with potential partners and leading global OEMs, Parkway is already talking to potential purchasers of chemicals for the project. MD Bahay Ozcakmak confirmed that Parkway is negotiating with a number of parties interested in assisting with the development, financing and/or operation of key elements of IBMS, including potential strategic investment in QBS.

We once again strongly recommend that our readers watch the abridged video recording of the Annual General Meeting with the presentation by Managing Director Bahay Ozcakmak: https://goldinvest.de/parkway-process-solutions-highlights-der-hauptversammlung-2024/. The link to the presentation can be found here: https://goldinvest.de/wp-content/uploads/2024/12/2024-11-27-AGM-Presentation.pdf (in particular pages 27 and 28).