The Board of PPS has been pleased with the companies progress since late 2020, when over $3.2m was raised. That funding provided the necessary working capital required to complete the mobilisation of the MPX 630 extruder, and that process will be completed in the very short term.
The strategic priorities for 2021 will focus heavily on the commercial development of the extruder, with expectations the unit will be in a revenue earning capacity, in the field, in Q2 2021. Industry interest in PPS technology remains strong, with many groups looking forward to seeing the completed unit in production in the short term.
The company has recently opened a seed raise with the intention to raise up to $1m at 12.5 cps. This funding will provide the necessary working capital to fund the commencement of early-stage operations. . Early-stage interest from existing shareholders has progressed well, and the opportunity now exists for non-shareholders to participate in this raise.
As the business develops further the intention is to use the IPO process, in late 2021, to fund the manufacture and development of further mobile HDPE pipe producing extruders.
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.