The Board of PPS has been pleased with the progress of the seed raising conducted in 2020, with over $3.2m being raised. This has given the company the necessary working capital required to complete the mobilisation of the MPX 630 extruder, and to allow the commercialisation agenda to gain significant momentum. The seed raising is now very close to being finalised and closed. In conjunction with this, PPS has built strong relationships with the investment community, and that will continue throughout 2021.
A key component of the mobilisation is the customised trailers for the extruder, and these have been manufactured for the company, and are expected to be with the company in January 2021. This will be a key point for the company, and gives PPS the ability to build further on its industry relationships and highlight the potential of its mobile HDPE pipe laying technology. It is from this point that smaller early stage contracts are expected by the Board.
In addition to the mobility work, the company has continued to make technical enhancements to the extruder, to further improve productivity and output. This work has been led by PPS’s CTO, and 2 new team members who have had significant career extruder experience.
The strategic priorities for 2021 are focussed heavily on the commercialisation of the MPX 630, in conjunction with the background work required for a successful public listing. Discussions are underway with users of HDPE pipe in the mining, agricultural and infrastructure sectors in Australia. The early stage work to broaden the prospective client base globally has also commenced. The aim is to prepare for the pre-IPO funding round to be completed by mid-year, with an ASX IPO by the end of 2021. Then from 2022 onwards it will be a matter of increasing revenue and NPAT and coupling more technological advancement to our products, so they become an integral product to use in the majority of HDPE piping applications.
About Polyline Pipe Systems Ltd
Polyline Pipe Systems (PPS) patented mobile pipe extruder can potentially disrupt the multi-billion dollar high density polyethylene (HDPE) global pipe market. The extruder has significant points of difference and sustainable competitive advantages relative to the conventional approach, and include –
- Manufacture and install continuous lengths of HDPE pipes from a mobile platform, tailored precisely to client specifications at the exact pipeline location.
- High quality durable end product with structural integrity complete, due to a material drop in handling/welding requirements, with rapid installation achievable.
PPS is accelerating efforts to rapidly commercialise the platform, and focusing on an eventual global roll out to customers across several core sectors – infrastructure, agriculture, water, mining and oil and gas. The technology is highly cost efficient, mobile, and delivers a bundled solution simultaneously, which underpins the potential ability to create material value for shareholders.