Highlights

• Carbonxt is set to exhibit its HydRestor^TM technology at two major US water industry events later this year.
• The two US events are expected to offer marketing and networking opportunities.
• The new business development initiatives will amplify the company’s reach for activated carbon products in the US market.
• New products - renewably sourced biochar pellets are planned for launch in near future.

One of the renowned cleantech companies, Carbonxt Group Limited (ASX:CG1) has been making serious strides in the activated carbon space. While it achieved several milestones in the first half of the year in both R&D and new recognised revenue streams, the company is set to deliver on many new business development initiatives in the second half of 2022.

In a major development, the ASX-listed firm has been selected to present its patented HydRestor^TM technology at two large-scale industry events of the United States - the Water Expo in Miami and the WEFTEC water quality event in New Orleans.

Triggered by the update, CG1 shares surged over 15% to trade at AU$0.220 on the Australian Securities Exchange (ASX) on 8 June 2022. The company has a market capitalisation of AU$41.66 million.

Events offer marketing and networking opportunities

During the on-site presentation at the two conferences, the company will highlight HydRestorTM technology, an activated carbon sorbent developed specifically for the removal of phosphorus in waterphase applications. HydRestorTM pellets are designed to absorb problem nutrients in water which can cause algae to form in natural water bodies.

Commenting on the development, Managing Director Warren Murphy, said “The opportunity to present our technology at two of the largest water management exhibitions in the US market comes at the ideal time for the Company. We look forward to the marketing and networking opportunities these business development opportunities in the US market will provide, now that our core business operations are fully established in the region.”

Interestingly, earlier in the year, HydRestor™ technology secured a place under the Innovative Technology Grant program of the Florida Department of Environmental Protection.

To know more, read Carbonxt (ASX:CG1) wins Florida Innovative Technologies Grant for HydRestor™

Image source: Company website

Here’s a sneak peek into the two events

• The Water Expo in August

This annual industry event is the only trade show that targets both the US market and Latin America and the Caribbean. It has established a strong track record linking US-based manufacturers and distributors with buyers and other industry professionals.

This year, the event is being organised at the Miami Airport Convention Centre on 24 and 25 August.  

Several representatives from multiple US government municipalities and water treatment facilities as well as wastewater industry executives will be present at the event as buy-side attendees.

Do read: Carbonxt (ASX:CG1) marks entry into LNG sector with $2M contract, shares soar

• Water Environment Federation's Technical Exhibition and Conference in October

One of the largest conferences in North America, the Water Environment Federation's Technical Exhibition and Conference (WEFTEC) pulls in a global cohort of leading water industry executives. It will be held at the Ernest N. Morial Convention Center.

The biggest annual event relating to water quality focuses on extending extensive professional development services. It gives attendees an opportunity to earn education credits, with a coordinated network of technical workshops addressing major wastewater issues faced worldwide.

Also read: Carbonxt Group (ASX:CG1) riding high on US economic recovery tailwinds

Advancing product suite with new product initiatives

The fast-growing company has begun the development of renewably sourced biochar pellets.

Biochar, a byproduct of the pyrolysis of biomass, is a fine-grain residue that is rich in carbon, making it apt for use-cases in improving soil quality and agricultural carbon sequestration practices.

In the recent years, the biochar sector has emerged as a major new addressable market. There has been growing interest from global industries such as resource intensive industries which are increasingly focused on carbon reduction measures.

Carbonxt is uniquely positioned to enter this estimated US$1bn-plus addressable market due to its extensive R&D capabilities, world-renowned carbon experts, expertise in pellet manufacturing and its access to sources of renewable material.

Do Read: Learn how Carbonxt Group is unlocking opportunities in water treatment space  

In the second half of 2022, the company is expecting significant progress for project development as well as sales. Also, there can be more upbeat market updates as Carbonxt’s new Kentucky manufacturing facility is set for a mega launch in early 2023.