Suvo Strategic Minerals Limited (ASX: SUV) has signed a non-binding memorandum of understanding (MOU) with Polvine Pty Ltd, also known as PERMAcast.
The intention of the MOU is to work collaboratively to negotiate in good faith a strategic partnership agreement and exploit Suvo’s licensed intellectual property to develop a number of low carbon concrete formulations, specifically for PERMAcast to deploy in selected end use applications.
PERMAcast, founded in 2006, is a privately owned West Australia company currently employing 400 people. The company has grown to become Western Australia’s leading supplier of precast and prestressed concrete products for the state’s major infrastructure, oil and gas and mining projects.
While this agreement is non-binding, it creates a pathway for Suvo and PERMAcast to establish a strategic partnership and to accelerate trials of various formulations and end products utilizing PERMAcast’s expertise and infrastructure.
“Over nearly two decades, PERMAcast has captured a sizeable share of the West Australian market, providing exceptional quality products to Tier 1 clients such as BHP, Rio Tinto, Santos, Woodside, John Holland, Brookfield Multiplex and Thiess amongst others,” said non-executive chairman Aaron Banks.
“This potentially creates a pathway to accelerate the commercialization of Suvo’s geopolymer IP at a time when many of PERMAcast’s clients, and PERMAcast itself, are seeking new opportunities to achieve their GHG emission reduction targets.”
Suvo Strategic Minerals Limited is an Australian hydrous kaolin producer and exploration company focused on production at, and expansion of, their 100% owned Pittong hydrous kaolin operation located 40km west of Ballarat in Victoria. Suvo’s exploration focus is on near-term kaolin and high purity silica assets with 100% owned Gabbin (kaolin), Eneabba and Muchea (silica sands) projects located in Western Australia.
Other notable PERMAcast projects in Western Australia include the Chevron Gorgon Gas Project, Perth (OPTUS) Stadium, Elizabeth Quay, Whitfords and Greenwood Train Stations, the Apache Veranus Island Wharf upgrade and the Forrestfield Airport Link.
For further information, please visit: www.suvo.com.au
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