I have some spare time today so thought I'd address a couple of points that have been raised if I may.
Edencrete sales going backwards.
EdenCrete sales were 7% down on last FY. EDE was up 4%.
We have been informed that GDoT postponed buying US$110,000 worth of Edencrete for projects, New York and Ohio had to wait to restock, India and Israel had to wait and looking at the timing, there is a strong case that Australia too had to wait for restrictions to lift before their re-order, all due to Covid. This adds up to roughly A$300,000 worth of EdenCrete that was not counted in FY 2020. This makes no account of the sum of smaller orders delayed due to lockdowns.
So not an excuse but proven disruption due to the economic realities caused by Covid.
What is different that a large upswing in sales is probable?
Last year's 2019 Annual Report;
"EDENCRETE®
¬ Sales increased by 127% compared to the prior year, exceeding $1.5 million.
Georgia
¬ First Federal funded Georgia Department of Transportation (GDOT) highway repair project using EdenCrete® undertaken using US$722,000 worth of EdenCrete® in total.
¬ EdenCrete® successfully completed 12 months’ field trail for GDOT new concrete pavement.
¬ MARTA Whitepaper issued detailing the excellent performance of EdenCrete® over a 2 year field trial commencing in 2016 – highly encouraging conclusions endorsing use of EdenCrete®.
¬ Next Federal funded GDOT repair project was advertised for tenders and included specifications suitable for use of EdenCrete®.
Colorado
¬ Increasing commercial and residential sales emerged for use in concrete slabs, driveways, walls, and shotcrete and grout; repeat orders from six Colorado customers.
¬ Denver Public Works specified by name, the addition of EdenCrete® in a contract for concrete for first time in Colorado.
New York
¬ Following successful truck trials of EdenCrete®Pz with a significant New York based ready mix operator, certification testing of two high strength concrete mix designs for high rise construction was successfully undertaken by an independent laboratory that provides
engineering-based certification of the designs.
¬ The certification of the high-performing concrete mix designs allows for use in commercial concrete production in the huge New York concrete market.
Texas
¬ Two more cost effective EdenCrete® concrete mix designs for use in prestressed highway bridge beams were
successfully developed.
¬ Approval of these mix designs by Texas Department of Transportation (TXDOT) proposed to be undertaken, which may result in a resumption of the regular sales of EdenCrete® in Texas.
NTPEP Evaluations of EdenCrete® and EdenCrete® Pz
¬ NTPEP evaluations, over 12 months, of both EdenCrete® and EdenCrete® Pz, were finally completed in July 2019, opening
possibility of approvals of both products by all US DOTs.
AUSTRALIA AND NEW ZEALAND
¬ Parchem appointed Australian and New Zealand EdenCrete® distributor and the first Australian commercial trials were held in April 2019.
KOREA
¬ Highly encouraging trial results achieved in Korean university trials of EdenCrete® HC and EdenCrete®Pz in two different concrete mixes (for concrete pavement and for precast concrete applications) tested for overall durability by analysing a wide range of performance characteristics.
INDIA
¬ EdenCrete® Indian marketing launched.
¬ Successful initial Indian trials of EdenCrete® produced very encouraging results confirming earlier US laboratory conclusions.
¬ Trials have since commenced with a number of large Indian companies involved in ready mix industry or construction.
EUROPE
¬ Successful trials of EdenCrete® with two European companies (one a large multinational construction company) - discussions and trials are continuing with both.
OptiBlend®
¬ Sales worth A$722,000 were invoiced during the year, including sales in India for five units to Bosch worth a total of A$169,000.
EdenPlast™
¬ The ARC funded research project with University of Queensland continued focusing on moving the production of master batches of CNT enriched plastics towards commercialisation.
¬ A second patent application was lodged.
Hydrogen
¬ Eden’s hydrogen production technology was reviewed in joint laboratory trials undertaken with a large multinational chemical company."
Lots of trials, potential, initial marketing, encouraging discussions.
Compare that to the recent Investor's presentation.
"Growth of EdenCrete® Market Footprint
US
• 41 companies in 9 States now using or specifying EdenCrete® products in a variety of applications.
• 17 companies purchased EdenCrete® products for the first time in 2020.
• 19 companies have EdenCrete® bulk tanks or totes, with dispensing equipment, in 22 plants across 9 States.
• The 41 companies using or specifying the use of EdenCrete® products comprise:
o 27 ready mix companies in 9 States;
o 6 shotcrete operators in 2 States;
o 4 contractors;
o 2 precast concrete manufacturers; and
o 2 engineering consultants.
• 16 potential new customers (approx. 290 plants in 6 States) awaiting trials when lockdown restrictions lift
International
• 3 current international markets- customers in Australia, India and Israel.
• Indian market has significant potential due to : large population; an abundant supply of low cost fly-ash, a waste product
from its many coal fired power stations, that, with EdenCrete® Pz, can be substituted for of a high percentage the
cement in concrete to produce a high quality, low cost concrete.
• Parchem Construction Supplies, the Australian EdenCrete® distributor, has approx. 40 trials underway or requested."
If you can't see the commercial expansion, your a FUDster with your eyes closed to any EDE positive.
I see your eyes glazing over at the length so will continue in a new post later.
IMO DYOR GLTS
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