Eden Innovations won another major US infrastructure trial for its concrete additive
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The concrete additive of Eden Innovations (ASX: EDE), EdenCrete, is being trialled on a major construction project for the second time.
EdenCrete aims to improve the strength and durability of concrete used in infrastructure, particularly roads and bridges. The additive is particularly focused on infrastructure with exposure to extreme weather, high use or exposure to salt.
It’s being used in an expansion of a hospital in ski-town Vail, Colarado after being recommended by the project’s structural engineer.
While the project is due to be complete in 2020, EdenCrete will be added to the shotcrete on the final structural liner of the building. Shotcrete refers concrete that is delivered through high-velocity hosing, which compacts it at the same time it is poured.
Nearly a litre of EdenCrete per metre was used in the initial 54.5 cubic metres of concrete. After positive results, this is being extended to another 230 cubic metres of concrete and then, if it works, engineers will consider adding EdenCrete to the entire pour.
EdenCrete appealed to local engineers because they didn’t have to temper it at the site. It also stacked better and allowed pumping pressure to be lower, meaning less wear and tear on the concrete machinery.
In a release to the ASX, the company said it was happy with the results:
“This project again confirms the potential for EdenCrete to be economically used in a wide range of shotcrete applications in both the USA as well as other parts of the world.”
This is the second time EdenCrete has been used in a major infrastructure project. In November, EdenCrete was used in Denver’s Central 70 Project.
That project involved reconstructing 10 miles (16km) of the existing I-70 highway, adding a new lane in both directions and removing a 55-year old viaduct. EdenCrete was used to stabilise a buttress wall under a bridge and reportedly performed very well.
Eden also told its shareholders it was confident its success would lead to more customers, including some closer to home.
“Relevantly, there are many significant tunnel and construction projects that include large amounts of shotcrete being planned or constructed around the world, including in South Korea and Australia, in each of which EdenCrete is currently intended to be marketed,” it said.
While the company is yet to cement a profit it raised $1.5 million through a placement in January and are undertaking a rights issue to raise a further $8.36m.
Eden Chairman Greg Solomon has previously told Stockhead it wants to be cashflow positive in 2020.
Shareholders responded with cautious optimism, the stock was up less than 2% in early trade.