- SciDev has received its first US order for its OptiFlox technology
- OptiFlox is designed for the treatment of process water and wastewater in the mining and minerals industry
- Orders have been placed with delivery in August and September 2019 totalling AUD$1.08 million
- Currently trading for 18.5 cents – the highest it has been since listing on the ASX
SciDev is gaining traction in the US market after it received its first significant order for its SciDev friction reduction technology for use in the oil and gas market.
Working through its US subsidiary, SciDev LLC, SciDev has developed a chemistry that delivers significant friction reduction benefits for both proppant (solid material designed to keep hydraulic fractions open) and oil transport.
The chemistry is delivered via SciDev’s proprietary OptiFlox technology.
OptiFlox is SciDev’s range of polymers which are specifically designed for the treatment of process water and wastewater in the mining and minerals industry.
It is available in both powder and liquid form and also in a variety of molecular weights.
It has many uses such as the clarification of both mine water and surface water runoff for multiple reuses, solid-liquid separation for tailings in thickeners and can also be used for slurry dewatering via filtration.
SciDev also has three other products: MaxiFlow which is designed for the treatment of wastewater across industrial sectors such as food and beverage, paint manufacturing, power generation and paper and cardboard manufacturing.
It also has DairyFlox which provides a cheaper, safer and greener method for treating dairy wastewater and BioFlox which treats wastewater and sludges in the sewage treatment sector.
Orders have been placed for delivery commencing in August and September 2019 with total revenue estimated to be AUD$1.08 million.
Order volumes are expected to grow with further commercial and field evaluations to be undertaken in order to determine the potential financial returns.
Separately to this, other US trials and commercial negotiations are progressing well and results will be reported in due corse. SciDev is finding significant demand and support for its chemical solutions which transitions well for the successes of the US initiative.
SciDev shares are up 37 per cent sitting at an all time high of 18.5 cents with a market cap of $14.48 million.