Environmental company Phoslock Environmental Technologies (ASX: PET) has signed a commercial-in-confidence agreement to manufacture, sell and distribute a re-usable phosphorus absorption product developed by a leading international university.
The new product can be used to capture and remove phosphorus from running waters in wetlands, filter systems, rivers and canals, with a high capacity and selectivity making it suitable for treating in-place applications.
The process uses permeable, re-usable bags with nanoparticles which ensure rapid uptake of phosphorus as water flows through.
The captured phosphorus is not subject to leaching or loss even under extreme environmental conditions, and can be removed and on-sold as a slow-release fertiliser.
The product has already proven effective in stormwater and agricultural drainage applications with capture rates of up to 80% of phosphorus loads.
Phoslock Environmental Technologies has established a development team to advance the new product, with commercial quantities expected to be available by mid-2020.
The university will receive royalties from product sales.
The new technology complements the company’s namesake water treatment product which is used primarily for the treatment of large water bodies requiring rapid remediation and permanent lock-up of phosphorus.
Phoslock permanently binds excess phosphorus in the water column and sediments, in turn inhibiting the growth of harmful algal blooms which can lead to detrimental effects for aquatic and human life.
The new technology by comparison, has widespread global applications in running water, where Phoslock may not be optimal.
Choice of two
Chairman Laurence Freedman said the new technology gives the company two phosphorus absorption products to choose from when it comes to individual projects.
“This reusable and recyclable product adds to the applications we can execute and will be a source of additional revenue as the removed phosphorus can be used to produce a slow release fertiliser,” he said.
“The world is awash with excess phosphates in lakes, reservoirs, rivers, stormwater and agricultural drainage as well as in groundwater, so the total addressable market is enormous and magnified by global warming.”
Phoslock Environmental Technologies specialises in engineering solutions and water treatment products to remediate impaired lakes, rivers, canals and drinking water reservoirs.
In 2017, the company established wholly-owned subsidiary PET (Beijing) to conduct design, engineering and implementation using remediation materials for rivers, canals, reservoirs and lakes along with construction of wetland areas.
The company also has a number of marketing and co-operation agreements in China with environmental companies and government agencies.
In morning trade, shares in Phoslock Environmental Technologies were trading 5.64% higher at $1.405.