Parkway Corporate gaining momentum as brine technology draws global interest
Water treatment specialist Parkway Corporate (ASX: PWN) is attracting growing international interest in its unique brine technology.
Parkway’s Queensland Brine Solutions (QBS) business continues to build momentum across a range of areas and is also making progress in securing a small number of strategic project sites to develop key brine management and/or processing-related infrastructure.
In particular, the company has received strong feedback on the QBS roadmap for delivering brine management solutions for the coal seam gas industry.
Proprietary technology
In announcing a highly successful period of contract wins, Parkway group managing director and chief executive officer Bahay Ozcakmak said the company had recently been approached by several parties interested in leveraging elements of its proprietary brine technology portfolio into other jurisdictions.
“This continued unsolicited interest in our portfolio of process technologies highlights the strategically valuable nature of our technology business and provides Parkway with multiple opportunities to create significant value,” he said.
The QBS news is just part of a strong period of success for the company.
Encouraging discussions
“In addition to being successfully shortlisted for a strategic project site through an ongoing tender process, QBS is also engaging in encouraging discussions with a range of other parties,” Mr Ozcakmak said.
In the meantime, the company is progressing QBS site acquisition-related activities, while also conducting internal feasibility studies.
Parkway has recently been awarded several contracts to deliver water infrastructure-related work with an aggregate value of more than $13.5 million.
Major engineering contract
Most notable among these is the $12.85m contract with a major engineering and construction contractor secured by a wholly owned subsidiary of Parkway.
The contracted “Parkway Scope” includes delivering structural, mechanical and piping work, from fabrication through to site installation, along with specialised services and project management support to aid the development of a high-profile wastewater treatment complex incorporating innovative resource recovery functions.
The award of this contract follows a successful collaboration between Parkway and the engineering and construction contractor during prior stages of the project, as well as collaboration on other similar water infrastructure projects.