Eden Innovations (ASX: EDE) has secured approval from the Colorado Department of Transport for its proprietary EdenCrete product to be used in a shotcrete concrete mix on Colorado’s Central 70 project in Denver.
According to Eden, it is the first contract for its EdenCrete material to be used in shotcrete, which is essentially a sprayed concrete or a pneumatically applied concrete.
It is also Eden’s largest contract to-date with the Colorado Department of Transportation.
In the Central 70 project, EdenCrete will be incorporated into the shotcrete and used in the reconstruction of 10 miles of the region’s I-70 Interstate highway.
The proprietary EdenCrete material was also used to stabilise a buttress wall under the I-70 bridge and according to Eden, it has performed “very well”.
Eden anticipates the project will require up to 10,000cu per yard of shotcrete. The EdenCrete is being added to the shotcrete at about 0.5 gallons per cu yard.
“This project has great relevance for the potential use of EdenCrete in shotcrete applications both in the US and in other parts of the world,” the company stated.
“Relevantly, there are many significant tunnel projects that are being planned or constructed around the world, including in South Korea and Australia,” the company added.
Eden’s strategy is to secure contracts world-wide were its EdenCrete can be incorporated into shotcrete and other similar concrete applications.
What is EdenCrete?
EdenCrete is a carbon-strengthened additive that can be combined with concrete to enhance its performance.
When added to concrete, EdenCrete can boost compressive, flexural and tensile strength. The material also improves abrasion resistance and has reduced permeability and shrinkage.
When combined, the characteristics create a stronger, tougher, more durable and longer lasting concrete.
Tasman Resources (ASX: TAS) is a major shareholder in Eden – holding almost 40% of the company.
Its Tasman’s strategy to keep its stake in Eden for the long-term due to the “potentially significant upside” of the investment.
As a result of its holding, Tasman’s securities shot up more than 13% to reach $0.068 on Eden’s news. Meanwhile, Eden’s share price rocketed more than 18% to reach $0.084 in mid-afternoon trade.