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Eden Innovations Ltd breaks into U.S. state of Georgia

Published: 13:00 30 Jun 2017 AEST

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Shares are up 23% intra-day

Eden Innovation Ltd (ASX:EDE) will have its concrete additive used when repairing all state funded, full depth concrete slab replacement projects on highways in the U.S. state of Georgia during FY2018.

This represents a major milestone and a very significant advance for Eden in its quest to achieve broad penetration by EdenCrete® into the large U.S. concrete and infrastructure markets.

EdenCrete® is Eden’s 100% owned proprietary carbon-strengthened concrete additive that enhances a wide range of performance characteristics of the concrete.

Currently, the anticipated number of FY18 projects in Georgia is estimated to be 16 and the projects may include up to 5 or 6 major repair projects, with the remainder being likely to be of a smaller scale.

Details of the anticipated size, value and timing of each project will become clearer over the coming months.

EdenCrete® has an estimated sale price of US$25 per gallon and is likely to be added to the concrete at a dosage rate of 2 gallons per cubic yard of concrete. 

Shares have popped today, trading up 23% to $0.24.

Given Trump’s infrastructure initiatives, Eden can potentially be seen as a benefactor given its exposure to the U.S. market.

EdenCrete® is currently approved for use in the U.S. states of Arkansas, Georgia, Mississippi, North Carolina, Tennessee, Texas and Virginia.

These states collectively have 21.5% of total U.S. population.

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