COMMERCIAL WATER TRIAL DEMONSTRATES SUCCESSFUL SEPARATION AND REMOVAL OF REGULATED PFAS FROM VARIOUS WASTE STREAMS [STOP SHOUTING]
- EGL’s foam fractionation technology has demonstrated outstanding results in commercial trials, successfully separating and removing PFAS from liquid waste streams up to 41.5ppb
- Consistent results demonstrated with regulated PFAS separated and removed to levels below detection limits in all high-volume low concentrate trials which represents a significant portion of the market
- At the highest concentrate trials (c. 40ppb total PFAS) regulated PFAS was removed over 99.4% on the first processing run with trials ongoing on these higher concentrate PFAS waste streams
- EGL’s technology has considerable advantages against other PFAS removal technologies including being simpler, safer, more versatile and more cost effective
- In order to advance commercialisation and support other business development opportunities EGL has received firm commitments for a $4.75m share placement (before costs) at $0.175 per share
***
Seems like good results but who knows until they get firm commitments and we know what kind of margin they can make off this - assuming it works and is cost effective out in the field. The technology doesn't rely on filters or other more cost intensive apparatus so that seems like a positive.
![ef518f20454f332687ed4baf6c46748f65a75d.png](//strawman.com/member/uploads/objects/10/ef518f20454f332687ed4baf6c46748f65a75d.png)
![ea861dddd370584da15ec8b6437f0a2264a4bb.png](//strawman.com/member/uploads/objects/93/ea861dddd370584da15ec8b6437f0a2264a4bb.png)
The Capital Raise at the last traded price for just $4.75m (before costs) makes you wonder if it was really worth the effort - factor in costs and is debt a better option? No mention of a SPP so not favoring existing shareholders. Overall, it's not bad news but I'm not sure what it means to the company's value - will do more work on it over Xmas.
[Held]