Suvo Strategic Minerals Limited’s (ASX: SUV) wholly owned subsidiary, Climate Tech Cement Pty Ltd, has executed a shareholders agreement with PERMAcast R&D Pty Ltd for 50/50 ownership of EcoCast Solutions Pty Ltd (IP Company) and EcoCast Concrete Pty Ltd, together the Joint Venture Entities.
The JV was established to commercialize the intellectual property developed under the Joint Development Agreement (JDA) and bring low carbon concrete products and projects to market.
Executive Chairman Aaron Banks commented: “Formalizing this JV with industry leader, PERMAcast, to deliver low carbon concrete products, is a defining moment for Suvo. PERMAcast will play a critical role in the commercialization of our jointly owned technology and the introduction of products to market.
This JV is essential as we will have firsthand knowledge of market insight, be able to leverage resources and infrastructure, seek market validation and credibility and most importantly establish processes and networks that can accelerate product development timelines, allowing for quicker commercialization. We look forward to updating the market as we progress this exciting new partnership.”
CEO of PERMAcast Darren Hedley also commented, “At Permacast, we’re focused on more than just building structures; we’re building for a sustainable future. Our partnership with Suvo is an exciting step toward greener, smarter construction. With our combined expertise and the growing demand for innovative and sustainable infrastructure solutions, this collaboration positions us at the forefront of a market that is demanding disruption. This joint venture is set to deliver, and only just at the beginning of the journey.”
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