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- Shares in Eden Innovations (EDE) have jumped following a three-year supply deal with US-based ready-mix concrete supplier Delta Industries
- Under the agreement, Eden will supply its EdenCrete product in bulk volumes to Delta, which operates across Mississippi, Alabama, Tennessee and Louisiana
- Initial orders from Delta are expected to amount to 3000 gallons of EdenCrete worth US$75,000 (A$105,927)
- The agreement expires in May 2025 and includes two further renewal options, each for another two years
- Shares in Eden Innovations were up 20 per cent to 1.2 cents as of 12:51 pm AEST
Shares in Eden Innovations (EDE) have jumped following a three-year supply deal with US-based ready-mix concrete supplier Delta Industries.
Under the agreement, Eden will supply three 1000-gallon storage tanks and dispensing equipment over the next month to three Delta plants — two in Tennessee and one in Mississippi. Once installed, Eden is expected to supply 3000 gallons of its EdenCrete product to fill those tanks, worth a total of US$75,000 (A$105,927).
These plants, all in reasonably close proximity, will enable cost effective delivery by
road tanker, and service a substantial portion of Delta’s shotcrete and commercial-industrial markets.
The agreement expires in May 2025 and includes two further options of renewal, each for another two years.
It also sets the initial price of EdenCrete of US$25 (A$35.17) per gallon is fixed for the first 12 months.
The company said the agreement is further compelling evidence of the significant expansion of the US EdenCrete market footprint that is occurring and the importance of EdenCrete to the shotcrete market.
This “major milestone” follows Delta’s extensive trialling and evaluation program, conducted over several months.
Delta used one of its standard shotcrete mixes, both with and without Eden’s flagship EdenCrete included.
The overwhelming response received from the shotcrete contractors who participated was very positive, confirming both that the EdenCrete mix was appreciably easier to work with and greatly increased the stackability of the shotcrete.
This means that EdenCrete significantly reduced the level of “rebound” when the shotcrete falls off the surface onto which it is sprayed.
Shares in Eden Innovations were up 20 per cent to 1.2 cents as of 12:51 pm AEST.
