Suvo Strategic Minerals Ltd (ASX:SUV) subsidiary Climate Tech Cement Pty Ltd has executed a shareholders agreement with major concrete company PERMAcast and the two companies now jointly own (50:50) EcoCast Concrete Pty Ltd and EcoCast Solutions Pty Ltd under a joint venture (JV) agreement.
The purpose of the JV is to commercialise the intellectual property developed under the joint development agreement already existing between the two companies and bring low-carbon and green concrete products to market.
PERMAcast is Western Australia’s leading supplier of precast and prestressed concrete products – the company’s expertise and market insight will be invaluable to the JV moving forward.
Building a sustainable future
“At PERMAcast, we’re focused on more than just building structures; we’re building for a sustainable future,” PERMAcast CEO Darren Hedley said.
“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.
“This joint venture is set to deliver, and only just at the beginning of the journey.”
Suvo licenses the ‘Murdoch Technology’ from Murdoch University under a worldwide and exclusive Intellectual Property Licence Agreement.
The technology involves the production of geopolymer concrete, made by reacting aluminate- and silicate-bearing materials with a caustic activator, such as metakaolin, fly ash, ground blast furnace slag and other waste-derived materials.
Reducing global CO2 emissions
Geopolymer concrete is a suitable replacement for concrete made using the traditional binder known as Ordinary Portland Cement (OPC) – the manufacturing of OPC accounts for 8% of global carbon emissions, equal to the emissions produced by cars the world over.
“Formalising this JV with industry leader, PERMAcast, to deliver low carbon concrete products, is a defining moment for Suvo,” SUV executive chair Aaron Banks said.
“PERMAcast will play a critical role in the commercialisation of our jointly owned technology and the introduction of products to market.
“This JV is essential as we will have firsthand 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.
“We look forward to updating the market as we progress this exciting new partnership.”