Australian environmental monitoring company Pacific Environment (ASX code: PEH) has acquired its first international contract, with wastewater giant Thames Water signing an agreement to deploy Pacific Environment’s key product, Envirosuite, at two of their United Kingdom treatment plants.
The contract has the potential to open up an $8 billion market for PEH across Europe and the United Kingdom.
“This win validates our strategy of overseas expansion by appointing distributors and shows the value of EnviroSuite across multiple sectors” Pacific Environment chief executive Peter White said, commenting on the new contract, “Successful implementation at these two facilities has the potential for significant further expansion with this and other water services in the UK and Europe.”
The move by Thames Water to engage PEH is part of its ongoing ESG strategy to reach beyond traditional approaches to managing environmental issues, highlighting the attractiveness of Australia’s environmental initiatives to international markets.
Thames Water is the United Kingdom’s largest water and wastewater services company with over 15 million customers. The initial contract will apply for one year, with an option to extend both the term and the number of client sites.
It is believed that there are over 100,000 wastewater sites across Europe, which at an average of 60 to 80 thousand dollars per site in annuity fees for EnviroSuite, could potentially translate into a multi-billion dollar market segment, effectively doubling the size of the global addressable market for the Group.
White says: “The contract is a huge step for the global growth plans of the company’s environmental solution. The win also confirms the wide applicability of the solution to different industry sectors and geographical markets.
“We intend to use this cornerstone client to build our business in the water services sector in the UK and Europe. We will also be looking at establishing a permanent office in the UK in due course. The Board and management believe this is a very strategic win for the company.”
EnviroSuite is a proactive environmental management system that combines real-time monitoring and predictive modelling with high resolution weather forecasting and automated data analysis to enable clients to maximise operational efficiencies whilst meeting or exceeding any regulatory compliance obligations.
The product will be used as a decision support tool to improve operational management and will enable the facilities to more efficiently manage environmental issues. The contract, awarded after a highly competitive bid, is one of the successful outcomes from Pacific Environment’s collaborative partnership with Odournet, a global leader in odour science.
“We were selected as the preferred vendor after a rigorous competitive tender process and worldwide search for an appropriate decision support tool” Peter White said, “This opportunity was identified as a result of our collaboration with Odournet. Odournet will be a sub-contractor providing expertise in establishing the odour monitoring, modelling and management components”
This global advancement is another indicator of the growing interest in environmental and social awareness by large, international organisations, providing opportunities for both organisations looking to grow their business and investors searching for exposure to new, expanding asset classes.
About Pacific Environment
Pacific Environment (ASX: PEH) is a leading Australian environmental technology and consulting company. Their experts provide environmental consulting, monitoring, automated reporting and predictive management solutions to a client base that spans Australia and extends to New Zealand, South East Asia, Africa, the Americas and Europe.
Their internationally recognised team provides quality service, built on decades of successful delivery on even the most challenging projects. They also consult to governments as independent experts.
Prior to the DLA acquisition Pacific Environment acquired Waste Solutions Australia (WSA), a well-established consultancy specialising in hydrogeology, contaminated land, solid waste and landfill gas services. Their clients benefit from the group’s 30+ years of experience, reliability and ability to develop quality, practical solutions in environmental technology and consulting.
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