Suvo Strategic Minerals Limited (ASX: SUV) recently incorporated joint venture between with PERMAcast R&D Pty Ltd, has executed a binding Memorandum Of Understanding (MOU) with wind development company, Wind With Purpose Pty Ltd (WWP).
Executive Chairman Aaron Banks commented: “We are delighted to engage with Wind With Purpose on this pilot project. We’ve teamed up with one of the largest precast concrete manufacturers in Australia and created two entities to deliver this initiative. We’ve demonstrated we can successfully create formulations and manufacture products of low carbon concrete, and now we are developing the pathway to revenue. WWP are developing projects, both onshore and offshore to potentially deliver between 400-500 wind turbines with our JV having the first option to supply the concrete required for these developments.”
WWP is engaged in the potential development of large-scale onshore and offshore wind energy projects in Western Australia with plans to install approximately 3GW of onshore wind and 2 GW of offshore wind capacity. To supply this capacity WWP will require the construction of between 400-500 wind turbines, where the volume of concrete required per foundation with respect to an onshore turbine can exceed 1,000 cubic metres.
The MOU outlines the terms and conditions under which the JV and WWP will collaborate on a pilot research project to evaluate the feasibility of using the JV’s
lower carbon concrete products in the construction of the proposed wind turbines. Importantly, subject to successful demonstration by the JV, of the viability of lower carbon concrete through the pilot project, if at any time following execution of this MOU and until five years after this MOU has been terminated, WWP propose to commence construction of a wind turbine, WWP must first offer the contract for supply of the concrete to the JV.
“Our JV is also investigating new technology to build the footings and towers out of precast components and has already commenced negotiations with owners of this technology. Building both the footings and towers from precast components would require significantly more concrete again.” Added Aaron.
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