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- Eden Innovations (EDE) has secured $2.7 million in debt financing from a real estate financing institution in the U.S.
- The financing was undertaken to increase sales of EdenCrete and OptiBlend
- In a busy morning, the company also announced the U.S. Patent and Trademark Office has issued one application and allowed another that were both lodged in 2017
- Eden’s share price is steady today with shares currently trading for 4.4 cents apiece
Eden Innovations (EDE) has secured US$1.85 million (AUD$2.7 million) in debt financing from a publicly listed U.S. real estate financing institution.
The 2-year, interest-only loan is secured against Eden’s two freehold properties in Colorado, U.S.
The financing has been undertaken to provide working capital for the Eden Group of companies as they continue to increase sales of both the EdenCrete range of products and the OptiBlend duel fuel systems.
A steady increase in these sales is targeted over the coming one to two years.
EdenCrete is a carbo-enriched mixture for concrete which aims to improve tensile and flexural strength without compromising corrosion and strength resistance.
When added to concrete mixtures, the nanotubes fill the microscopic spaces between hydrated cement particles.
Once the concrete has dried, the nanotubes create millions of strong and flexible carbon bridges throughout the structure.
While making concrete stronger, EdenCrete is also believed it can increase life use beyond current expectations.
In the U.S. EdenCrete has been approved for use in 18 States, representing 45 per cent of the U.S. population, 50 per cent of the total U.S. land area, and 65,500 bridges that are structurally deficient.
Eden’s other technology OptiBlend, allows the conventional Diesel engine to run natural gas as its primary fuel without modifying the engine or the current diesel fuel system.
This results in lower fuel costs, lower emissions and increase runtime.
In a busy morning for the company, Eden also announced that the U.S. Patent and Trademark Office has issued one application and allowed another that were both lodged in 2017.
The first patent, 15/597,198 has be allowed and includes 24 claims directed to the EdenCrete family of products and patent number 10,472,240 has been issued and includes 16 claims directed to production of the EdenPlast family of products.
EdenPlast is a CNT (carbon nanotube) enriched polypropylene tape made from stable pelleted, high concentration CNT material.
It has higher tensile strength, dispersion and ductility compared to other similar products.
Additionally, corresponding patent applications have been lodged in the U.S. that include claims directed to the structure of EdenCrete and EdenPlast.
Similar patent applications have also been lodged in five other countries, consistent to the Patent Convention Treaty.
These two patents are both broad in their scope, covering the use of a wide variety of carbon nanoparticles in the manufacture of concrete and plastic products.
The patents are intended to provide significant protection in the U.S.A. for the intellectual property that Eden has developed over the past 10 years.
Eden now holds 10 U.S. patents protecting its technologies in different areas, along with corresponding patents in a number of other countries.
The company also holds three other current U.S. patent applications that are still being considered.
Eden’s share price is steady today with shares trading for 4.4 cents apiece at 12:48 pm AEDT.
