Eden Innovations Ltd’s (ASX: EDE) EdenCrete makes a breakthrough, EdenCrete is trialled in a shotcrete concrete mix for the first time on a major building construction project in Colorado. This news comes on the back of the previous announcement made by EDE on 15th November 2018 wherein the company informed about the EdenCrete approval in a shotcrete concrete mix by the Colorado Department of Transportation on an infrastructure project in Denver.
Shotcrete is construction technique wherein concrete is pneumatically sprayed through a hose at high velocity on to a surface.
The Project Engineer recommended EdenCrete for the US$190 million Vail Health East Wing Expansion project. EdenCrete is recommended for inclusion in the shotcrete on the final shotcrete liner that is to be built along the building’s foundation walls. The liner walls will be approximately 350 linear feet long x 50-60 feet high x 1.5 feet thick as per the company’s announcement document.
The company informed the exchange that the General contractor agreed to evaluate the effects of EdenCrete on dust generation, adhesion, rebound waste, stack ability and ease of pumping.
Also, the company highlighted on 28th February that 0.25 gallons of EdenCrete has been installed. The company’s product achieved a positive result, and the evaluation was extended to first 300 cubic yards of concrete to be installed over the next 7-10 days. The company added that based on these results, a decision would be taken whether to add EdenCrete to the approx. 4,000 cubic yards of concrete to complete the liner.
Some of the benefits reported by the company are: The concrete held its slump and air when transported to the job site. The concrete did not require tempering at the job site. Also, the company reported that the shotcrete contractor observed better performance with EdenCrete than the one without EdenCrete and reported a minimal rebound. The pump contractor used lower pumping pressure while using EdenCrete.
The company reported that this building project is the second major project in Colorada in the last four months in which EDE’s EdenCrete is added to a shotcrete concrete mix, at a low dosage rate.
The company claims that this product has shown significant benefits and believes that this further confirms the progress EdenCrete continues to make in expanding its sales footprint into the vast U.S infrastructure and commercial concrete markets.
This project augurs well for the company’s product line and confirms the potential for EdenCrete to be used in a wide range of shotcrete applications not just in the US, but other parts of the world as well.
The company believes that there are many significant tunnel and construction projects that include large amounts of shotcrete being planned or constructed across the world, including in South Korea and Australia and the company is currently intending to market its product EdenCrete in each of these countries.
The shares of EDE were trading up by 5.66% ASX, (As at Mon 04 Mar 19 03:55PM). Though, the stock has dropped by 29.33% and 7.02%, in the past three months and one month respectively.
Eden Innovations Ltd’s (ASX: EDE) market capitalization stands at circa $82.03 million. The Stock has noted the 52-week low price of A$ 0.035 and the 52-week high price of A$0.130. The company has an EPS of -0.007 AUD.
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