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SciDev (ASX:SDV) - Managing Director & CEO, Lewis Utting
Managing Director & CEO, Lewis Utting
Source: Switzer Financial Group
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  • Water treatment company SciDev (SDV) has achieved record sales for the month of March, surpassing the entire December 2019 quarter
  • In March the company delivered $4.8 million in sales, exceeding the $4 million recorded in the whole December quarter
  • These sales were spread across the company’s vast portfolio, which covers oil and gas, mining, and water treatment
  • While the details are vague at this time, more concrete specifics will be provided in SciDev’s Quarterly Report which will be released in April
  • SciDev is up a steady 24.7 per cent and shares are trading for 53 cents each

SciDev (SDV) has achieved record sales for the month of March, surpassing the entire December 2019 quarter.

In March 2020 the company had sales of $4.8 million, exceeding the $4 million recorded in the whole December quarter.

These sales were spread across SciDev’s wide portfolio which covers oil and gas, mining, and water treatment.

Approximately $700,000 comes from the recent purchase of Highland Fluids Technology.

On March 2, SciDev closed the transaction of Highland which was first announced in early January.

After signing a binding heads of agreement, SciDev purchased Highland for US$6 million.

Highland Fluids Technology is a U.S. company which specialises in bespoke chemistry and services for water reuse and fluid recycling.

While the details are vague at this time, more concrete ones will be provided in SciDev’s third-quarter report, which will be released in April.

“We are delighted with the results for March 2020; in a highly challenging macroeconomic environment, the month of March sales are a positive reflection of our professional services and bespoke chemistries that we deliver,” Managing Director and CEO Lewis Utting commented.

SciDev focuses exclusively on the research, development and manufacture of polymers (large molecules made-up of repeated subunits) for solid-liquid separation.

The company’s technologies, MaxiFlox, OptiFlox, DairyFlox, and BioFlox, can solve the operational and environmental issues related to mineral processing and water treatment.

OptiFlox is SciDev’s range of polymers which are specifically designed for the treatment of process water (undrinkable water) and wastewater in the mining and mineral industries.

This is available in both liquid and powder forms, and a wide range of molecular weights.

MaxiFlox is designed for the treatment of wastewater across industrial sectors such as food and beverage, paper and cardboard manufacturing, power generation, and oil and gas production.

BioFlox is designed for the treatment of wastewater and sludge in the sewage treatment sector, while DairyFlox provides a safer, greener and cheaper method for treating wastewater in the manufacturing of dairy products.

SciDev is up a steady 24.7 per cent and shares are trading for 53 cents each at 12:15 pm AEDT.

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