Parkway boosts go-to-market strategy with new Centre for Brine Technologies

Australian wastewater cleantech Parkway Corporate (ASX: PWN; FRA: 4IP) has continued to systematically expand its technical and practical capabilities over the past quarter. According to the recently published quarterly report for December 2023, Parkway has leased a warehouse in which a new “Centre for Brine Technologies” is currently being built. The warehouse is adjacent to the existing PPS facility in Melbourne, which also serves as the Parkway Group’s headquarters. The new centre will improve the company’s in-house analytical capabilities and test customised brine processing on a large pilot scale. In particular, the new centre will be used to advance the construction of modular containerised systems using Parkway’s PPT technologies. Existing strategic partners as well as potential customers and cooperation partners support the centre for brine technologies and want to use the new possibilities for their purposes.

Go-to-market strategy – work on the standard design

Parkway aims to make the transition to commercialisation of its PPT technologies (see Figure 1) by 2024. Parkway’s management believes that a standardised modular plant design for the upstream concentration of brine will best meet customer requirements. Parkway believes that such standardised containers with PPT technologies would also be attractive for applications outside the CSG industry in Queensland. With Queensland CSG companies in mind, Parkway believes it can offer a very attractive brine concentration service (lower cost, better outcome) based on Toll-Treatment.

Parkway has already ordered parts for a large-scale pilot plant, which will be tested at the Centre for Brine Technologies in the coming months. The company hopes to reduce the cost of building and maintaining brine tanks by introducing certain upstream technologies. Thanks to this optimisation, the company wants to offer the industry a permanently cost-effective option for dewatering residual brines. Through targeted investment in new capabilities, Parkway aims to build, own and operate (BOO) projects of various sizes itself in the future, possibly together with one or more partners, depending on the project-specific parameters.

As at 31 December 2023, the company had cash reserves of AUD 3.90 million. The reported cash balance does not take into account existing claims for grants, the expected R&D rebate for FY23 ($0.53 million) or other receivables. Parkway attributes the net cash outflow in the previous quarter to the ongoing investment in the technology portfolio, including the brine technology centre, and the expansion of PPS activities, including the funding of work in progress.