Scidev Ltd - New Order with Phoenix Process Equipment Company
Scidev Ltd (ASX:SDV)

New Order with Phoenix Process Equipment Company

Highlights

What's happened?

SciDev Limited (ASX:SDV; SciDev) has announced that it has received a large commercial order from Phoenix Process Equipment Company (Phoenix).

What are the details?

SciDev chemistry, manufactured by Nuoer, has been qualified by Phoenix for the use in their mineral processing and oil & gas processes under a Heads of Agreement (HoA) signed between the parties in August 2019.

The new order from Phoenix is for approximately USD$1.4m of product, representing approximately 3 months of stock under the HoA. The chemistry will be manufactured by SciDev’s partner, Nuoer China, with product expected to be onsite with Phoenix in March 2020.

What does this announcement mean?

Erik Bergseng CFA® from Mawson Graham provides perspective on this recent announcement.
Erik Bergseng CFA®
Written by Erik Bergseng CFA®
Published Feb 12, 2020

SciDev continues to demonstrate their ability to successfully move customers in its sales pipeline from commercial and technical trials through to commercial orders. This ability will likely translate into continued revenue growth in future reporting periods as SciDev commercialise their technology within its US$8bn global addressable market.

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Mawson Graham

Managing Director's Summary

Lewis Utting

“As we continue partnering with strong, reliable counterparties like Phoenix, opportunities will continue to emerge that are value accretive to all parties. The order demonstrates the growing opportunity for SciDev products and professional services in the large North American market”.

Lewis Utting
Managing Director, Scidev Ltd

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