Scidev Ltd (ASX:SDV) has signed a $2.5 million capital raising mandate with Taylor Collison to facilitate growth, comprising a placement ($1.25 million) and a non-renounceable entitlement offer ($1.25 million).
The capital raising follows the signing of an exclusive distribution and marketing deal in Australia and other Oceanic countries for polymer products produced by the China-based Nuoer Group.
Nuoer Group is the world’s second largest producer of water-soluble polymers (PAM).
The new agreement aligns the Nuoer Group with SciDev’s business development strategy, using SciDev’s patent pending OptiFlox® technology to execute aggressive growth plans.
OptiFlox is a range of polymers specifically tailored for the treatment of process water and wastewater in mining and minerals.
The OptiFlox system measures colloidal properties online and uses advanced process analytics to optimise
The new funding will be used to support the roll out of the OptiFlox technology and execute a combined Nuoer/SciDev business development pipeline.