Clean Teq Water Boosts European Expansion with Nyrstar Contract

Clean TeQ Water (ASX: CNQ) has secured a €5.06 million (approximately A$8.5m) contract with Nyrstar for a DESALX wastewater treatment system in Belgium, marking a key European expansion and a critical step towards full-scale delivery.

The total contract value includes €1.08 million for provisional services, with equipment delivery scheduled through 2026 and early 2027.

This latest agreement marks the company's second major full-scale European project.

The DESALX system is specifically designed to remove sulphate and selenium from wastewater, directly addressing the increasingly tightening environmental discharge requirements prevalent in Europe.

Transition to Full-Scale Delivery

The project's technology is built on Clean TeQ's MBIX platform, which underpins its advanced water treatment solutions.

With Phase 1 detailed engineering for the Nyrstar project now completed, this new contract signifies a crucial transition.

Clean TeQ Water is moving from the engineering stage to full-scale system delivery.

This progression not only strengthens the company's project pipeline but also contributes to its growing reference base for MBIX-based solutions across Europe.

Context: Recent Strategic Wins & Funding

The Nyrstar contract follows a period of significant activity for Clean TeQ Water.

In November 2025, the company secured a US$12.5 million (approximately A$19.2 million) contract with Rio Tinto Rincon Mining for a lithium concentrate softening plant in Argentina.

Furthermore, Clean TeQ Water completed a A$6 million capital raise in November 2025, which strengthened its balance sheet to support ongoing project execution.

More recently, in January 2026, an engineering services contract was secured with Sunrise Energy Metals for scandium project designs.

Execution and Cash Flow Risks Remain

The Nyrstar contract is a significant step in Clean TeQ Water's transition to full-scale project delivery and validates its MBIX technology in Europe.

However, investors remain watchful of execution risks and the company's reliance on milestone-based payments for cash flow, as highlighted in recent quarterly reports.