Clean TeQ's New AU$11 Million Contract for PHOSPHIX Plant in Ireland
CNQ (CNQ) Share Update November 2024 Thursday 14th
Clean TeQ Secures Major Contract for PHOSPHIX Plant in Ireland
Clean TeQ Water Limited (ASX: CNQ) has announced a significant contract win with Enva Ireland Limited for the design and supply of a PHOSPHIX® Plant, valued at over AU$11 million. This development marks a major milestone for Clean TeQ as it expands its footprint in the European market.
Instant Summary:
- Contract valued at over AU$11 million for PHOSPHIX® Plant.
- Partnership with Enva Ireland Limited.
- Plant to achieve high water recovery rate (~99%).
- No liquid brine waste or large ferric phosphate sludge production.
- Project includes design, supply, project management, and commissioning.
Contract Details
Clean TeQ Water Limited has been awarded a contract by Enva Ireland Limited, valued at approximately EUR €7 million (over AU$11 million), to design and supply a PHOSPHIX® Plant in Ireland. This contract follows successful laboratory and on-site testing, demonstrating the plant's capability to remove phosphate from wastewater to meet stringent EU standards.
The PHOSPHIX® Plant will treat industrial wastewater, efficiently removing phosphate without creating a liquid brine waste stream or significant ferric phosphate sludge. Instead, it will produce a small volume of solid phosphate by-product, which can be disposed of safely and cost-effectively. The plant is designed to operate at a high water recovery rate of approximately 99%, minimizing liquid discharge.
Partnership and Project Timeline
The contract involves Clean TeQ designing, supplying, managing, and commissioning the plant, with a 56-week delivery timeframe and an 18-week installation period by Enva's end user. Commissioning will occur over an 8-week period post-installation.
Enva, a leader in recycling and resource recovery, collaborates with Clean TeQ under a cooperation agreement to promote water treatment solutions in Ireland and the UK. This partnership aims to address the increasing environmental challenges faced by industrial producers due to tightening discharge regulations.
This contract represents a significant step for Clean TeQ in expanding its market presence in Europe, particularly in the wastewater treatment sector. The successful implementation of the PHOSPHIX® technology could lead to further opportunities as regulatory changes continue to drive demand for innovative solutions. The contract's value and scope are likely to positively influence Clean TeQ's stock, reflecting investor confidence in its growth potential.
Investor Reaction:
Analysts are expected to view this contract positively, as it not only reinforces Clean TeQ's technological capabilities but also strengthens its strategic partnership with Enva. The project's success could enhance Clean TeQ's reputation and open doors to additional contracts in the region.
Conclusion:
Investors should keep an eye on Clean TeQ's progress with the PHOSPHIX® Plant project and its potential to secure further contracts in Europe. The company's ability to adapt to changing environmental regulations and deliver efficient solutions will be key to its long-term success.