Join our daily newsletter At The Bell to receive exclusive market insights
- Eden Innovations (EDE) sees an upswing in US OptiBlend purchase orders for the first four weeks of July
- The company received over $1 million worth of orders, comprising 13 units from six customers
- Optiblend is Eden’s proprietary dual fuel system that allows diesel generator sets to run on a combination of natural gas
- On the market, Eden is in the grey, trading at 2.5 cents per share
Eden Innovations (EDE) has seen an upswing in US OptiBlend purchase orders for the first four weeks of July.
Optiblend is Eden’s proprietary dual fuel system that allows diesel generator sets to run on a combination of natural gas, therefore reducing diesel fuel consumption down to around 30 per cent of the total fuel requirements.
Since July 1, the number of OptiBlend purchase orders gave risen very sharply, with over $1 million worth of orders received.
These purchase orders are for 13 units and have been received from six customers from a range of market sectors, including a large industrial company, a drilling company and a government facility.
Eden said the recent increase in purchase orders is from a range of factors such as post- COVID-19 market growth as US companies return to full operation and the lower price of natural gas in the US compared to diesel.
“As a result of strong market drivers, and the recent significant increase in OptiBlend purchase orders, Eden US anticipates that the rate of OptiBlend orders is,” the company said.
Notably, this increase with the Indian OptiBlend sales, Eden is confident that the combined sales will generate a significant contribution towards Eden achieving its target of being cash flow positive by the end of FY22.
On the market, Eden was in the grey, trading at 2.5 cents per share at 11:59 am AEST.
