Market Herald logo


Be the first with the news that moves the market
  • China’s many regions have grappled with issues of clean water treatment for many years now
  • ASX company Phoslock Environmental Technologies has joined in on solving the issue, using its patented techniques to remove phosphorus levels from bodies of waters
  • Today the company announced it will be cleaning up China’s second biggest urban lake, East Lake, which spans 3,362 hectares in the city of Wuhan
  • Earlier in July, the company was able to reduce phosphorus levels by 75 per cent over two days on another Chinese project — granting expansion to an additional 14 rivers

The second biggest urban lake in China, East Lake, will be undergoing water treatment as part of a new deal with an Australian water remediation company.

The company, Phoslock Environmental Technologies, will be servicing a body of water which spans 3,362 hectares in Central China’s Yangtze River Basin of the city Wuhan.

Phoslock uses a patented method in following the footsteps of techniques crafted by CSIRO — treating water with high levels of phosphorous, algae, health, and odour issues.

“I am, once again, delighted to be announcing yet another new program, in a new area for us in China,” Phoslock Chairman Laurence Freedman said.

In early July this year, the company won a major deal in increasing its presence in Southern China. Over a two-month period, Phoslock had been using its treatment on the 34 square kilometres Xingyun Lake.

After success in reducing phosphorus levels by 75 per cent in two days, and showing no adverse effects on fish, plants and humans, the treatment was expanded to 14 rivers for 371 square kilometres.

“This province alone is likely to provide the group with many years of Phoslock remediation works,” Laurence said.

The city of Wuhan in China’s Hubei province holds 68 lakes alone, all spanning larger than 100 hectares. Most of these lakes are of poor quality.

The contract for treating the water is effective immediately, although specifics such as financial dealings are confidential as of now.

“I must congratulate the outstanding – and growing- Chinese technical, engineering and management teams, led by our two directors, Mr Zhang and Mr Ma,” Laurence added.

“I look forward to adding to the progress of our international businesses in the near future.”

Shares in Phoslock have seen solid growth this morning, climbing 3.46 per cent to value at $1.35 apiece.

PET by the numbers
More From The Market Herald

" GWA Group (ASX:GWA) completes extension of syndicated banking facility

GWA Group (GWA) has successfully extended its syndicated banking facility.

" Downer (ASX:DOW) refinances $1.4b loan facility

Downer EDI Limited (DOW) has refinanced the group’s inaugural $1.4 billion sustainability linked loan facility, which was established in December 2020.
Quickstep (ASX:QHL) - CEO, Mark Burgess

" Quickstep (ASX:QHL) partners with Swoop Aero

Quickstep (QHL) has signed a strategic supply agreement with Swoop Aero.
Electro Optic Systems (ASX:EOS) - CEO, Dr Ben Greene

" Electro Optic Systems (ASX:EOS) moves ahead with OHB contract

Electro Optic Systems (EOS) will move ahead with a manufacturing contract with OHB Systems after concluding negotiations.