Suvo cements agreement with PERMAcast for low-carbon concrete

Suvo and PERMAcast make shareholders agreement for 50/50 ownership of EcoCast Concrete
Companies working to commercialise low-carbon concrete products
PERMAcast shareholders also cornerstone the recent $2m placement

Special Report: Suvo Strategic Minerals’ subsidiary Climate Tech Cement has executed a shareholders’ agreement with PERMAcast R&D for 50/50 ownership of EcoCast Concrete and EcoCast Solutions to bring low-carbon concrete products and projects to market.

PERMAcast is Western Australia’s leading supplier of precast and prestressed concrete products and will be essential in providing market insights and expertise that accelerate development and enhance market readiness.

The companies plan to deliver low carbon geopolymer concrete products, with the first to be a series of 1,000mm x 300mm x 300mm backing blocks using the low-carbon concrete formulation known as Colliecrete, for a major government infrastructure project at the request of the Sustainability Waste Allowance (SWA).

“Formalising this JV with industry leader PERMAcast to deliver low-carbon concrete products, is a defining moment for Suvo. PERMAcast will play a critical role in the commercialisation of our jointly owned technology and the introduction of products to market,” Suvo Strategic Minerals (ASX:SUV) executive chairman Aaron Banks said.

“This JV is essential as we will have first-hand knowledge of market insight, be able to leverage resources and infrastructure, seek market validation and credibility and most importantly establish processes and networks that can accelerate product development timelines, allowing for quicker commercialisation.”

PERMAcast CEO Darren Hedley said the JV is focused on building for a sustainable future.

“Our partnership with Suvo is an exciting step toward greener, smarter construction. With our combined expertise and the growing demand for innovative and sustainable infrastructure solutions, this collaboration positions us at the forefront of a market that is demanding disruption,” he said.

“This joint venture is set to deliver, and only just at the beginning of the journey.”

PERMAcast cornerstones $2m placement

A further vote of confidence in the JV has come in the form of PERMAcast shareholders committing to a cornerstone investment in SUV’s recent $2m placement at $0.048 per share.

Shareholders of PERMAcast will take up 15% of the total placement, with funds directed to supporting the development and commercialisation of SUV’s low carbon cement intellectual property.

Banks said the funds will enable the company to further advance the recently announced opportunity with PT Huadi Nickel-Alloy Indonesia, where SUV successfully used its nickel slag offtake to produce a high-strength, low-carbon cement.

Nickel slag is the by-product generated from nickel production and is commonly stockpiled or otherwise committed to landfill and comes with a zero-carbon footprint.

“The company hopes to formalise a commercial arrangement with PT Huadi in the near term,” Banks said.

“We look forward to updating the market as we finalise some of these exciting new opportunities.”

This article was developed in collaboration with Suvo Strategic Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.