Sprintex (ASX: SIX) has secured an exclusive distribution agreement for its G-Series Jet Blowers in Bangladesh's wastewater aeration market.
This marks the latest in a series of international distribution and partnership deals for the company, expanding its footprint into a key emerging economy.
Sprintex entered an exclusive, performance-based distribution agreement with Kingsley Engineering Service Corporation for G-Series Jet Blowers in Bangladesh.
The three-year deal focuses on wastewater aeration applications, specifically industrial effluent treatment plants and municipal sewage treatment plants.
The agreement includes an initial purchase order of approximately AU$71k, with further minimum purchase commitments set at the USD equivalents of AU$485k for Year 1, AU$781k for Year 2, and AU$1.136m for Year 3.
Market Development Plan
A joint market development plan is in place, encompassing technical training starting this quarter, co-branding initiatives, website listings, exhibitions, and customer delegation visits.
Sprintex will also provide on-site commissioning support for initial projects.
The G-Series blowers are positioned as an energy-efficient solution, citing over 50% energy savings compared to traditional blower types.
They are designed to operate effectively in challenging conditions, including high temperatures, high humidity, and variable power quality.
Ongoing International Market Expansion
The Bangladesh agreement builds on Sprintex's recent international expansion efforts.
In March 2026, the company secured an exclusive distribution agreement with ChoisTechnics Corp for fuel cell compressors in South Korea.
Earlier in March 2026, Sprintex also progressed through the selection stage of a major UK water utility procurement process for specialist blower technologies, moving into contractual compliance and invitation to tender stages.
The UK water sector is embarking on a GBP104 billion investment cycle from 2025 to 2030.
Further expanding its presence, Sprintex has grown its Indian market reach via Euroteck, appointing 37 channel partners across the country.
This expansion was supported by an initial purchase order for 150 G15 Jet Blowers, valued at US$205,950, to be used as demonstration units.
Key Commercial Agreements Driving Growth
A significant binding €15.6 million purchase order from Mest Water for 500 MVR compressor systems and 500 PLC control systems remains a core part of the company's forward order book.
Deliveries are planned monthly from March 2026 to July 2027.
In China, Sprintex has a three-year private-label supply agreement with Guangdong Baode Technology (BD Compressor), valued at approximately RMB44.08 million, or about A$9.4 million, with minimum annual commitments.
Initial production for this agreement commenced during the reporting period.
Sprintex continues to directly supply existing customers in South Korea and is exploring ongoing global interest in private-label and strategic partnership opportunities for its G15 platform.
Financial Performance and Capital Structure
For the half-year ended 31 December 2025, Sprintex reported revenue from ordinary activities of A$2.71 million, marking a 162% increase compared to the prior corresponding period.
Despite this revenue growth, the company recorded a net loss after tax of A$1.73 million.
At 31 December 2025, Sprintex had cash at bank of A$179,596 and a net asset deficiency of A$3.26 million.
Subsequent to the period end, Sprintex successfully completed a strategic capital raise of A$3.625 million.
The proceeds were used to settle legacy loan facilities and partially repay a convertible note, reducing the remaining principal to A$1.85 million.
