Synertec Corporation Ltd reported a 7.7% quarter-on-quarter revenue uplift to $4.4 million for the three months ending March 28, 2025, underpinned by strong progress across its engineering and technology platforms, including its flagship Powerhouse product.
The technology design and development firm, which provides low-carbon energy solutions, closed the third quarter of the financial year with a net cash position of $4.6 million and a further $11.5 million available in undrawn debt. It seeks to maintain capital flexibility amid broader cost-reduction measures, with year-to-date savings of about $2 million expected to increase.
Powerhouse – Synertec’s autonomous, remote microgrid solution – continued delivering robust field performance, operating at over 99.9% availability even during Tropical Cyclone Alfred.
According to managing director Michael Carroll, the cyclone had provided a real-world demonstration of the system’s value proposition.
“Powerhouse is an incredibly robust and reliable remote, industrial, standalone, microgrid technology that continues to operate autonomously during and after an extreme weather event, while traditional fossil fuel generators fail or run out of fuel due to road closures preventing refuelling and essential maintenance activities,” he said.
LNG momentum, scalability moves
Also in the third quarter, Synertec secured a US patent for its liquefied natural gas (LNG) custody transfer system, a technology that enhances measurement accuracy and revenue certainty for global LNG trade. Interest in the system is rising in tandem with renewed momentum in the LNG market, the company said.
Synertec also made strategic progress on the commercial scalability of Powerhouse, securing bulk pricing agreements with Chinese battery suppliers and entering partnership talks with the world’s largest battery manufacturer. These moves are meant to position the system for broader deployment, including utility-scale installations.
“We have significantly progressed design and the delivered cost of multiple Powerhouse units, making the technology even more economically competitive,” Carroll said. “Our engineering teams are well progressed to complete final commissioning works and close out design details on potential Powerhouse multi-unit installation opportunities.”
Future projects
Synertec also reported that its engineering division remains profitable and cashflow-positive, securing 32 contracts during the third quarter (and 21 more since the beginning of April). Notable awards include work for the Western Australia Water Corporation and panel positions with Australian Nuclear Science and Technology Organisation, supporting national infrastructure in New South Wales and Queensland.
Looking ahead, Synertec confirmed that its board has initiated a strategic review to extract maximum value from its dual-track business model spanning engineering and advanced tech solutions.