Purifloh Secures $100K BRII Grant, Files New Patents, Eyes $1M Funding
Purifloh Limited has made significant progress in its PFAS destruction technology, securing a $100,000 BRII feasibility grant while navigating challenges to resume trading on the ASX.
- Secured $100,000 BRII feasibility grant for renewable-powered water treatment
- Scaled up PFAS destruction technology in expanded R&D facility
- Filed new provisional patents to protect and commercialise IP
- Preparing pilot plant proposal for Department of Defence evaluation
- Facing uncertainty over ASX trading resumption deadline extension
Technological Momentum
Purifloh Limited (ASX: PO3) has reported a productive quarter ending December 2024, marked by notable advancements in its proprietary PFAS destruction technology. The company has intensified its research and development efforts, relocating to a larger facility within the CoLabs network in South Melbourne to support scaling activities. This move is strategic, enabling Purifloh to prepare a pilot plant proposal for assessment by the Australian Department of Defence (DoD), a key potential customer and partner.
Central to Purifloh’s progress is its focus on developing a low-energy advanced oxidation process designed to treat PFAS-contaminated water and potable water for remote Australian communities. The technology aims to meet stringent Australian Drinking Water Guidelines (ADWG), positioning the company at the forefront of environmental remediation solutions.
Funding and Intellectual Property Expansion
During the quarter, Purifloh secured an initial $100,000 feasibility grant under the Business Research and Innovation Initiative (BRII), specifically targeting renewable energy-powered water treatment systems. This grant not only validates the commercial potential of Purifloh’s technology but also opens the door to a possible additional $1 million in funding contingent on successful demonstration outcomes expected by April 2025.
Complementing its R&D progress, Purifloh has actively expanded its intellectual property portfolio by filing new provisional patents. These filings aim to protect the versatility and scalability of its PFAS destruction technology, both as a standalone solution and as an add-on to existing onsite treatment systems. This IP strategy is critical for future licensing opportunities and commercial partnerships.
Corporate and Market Challenges
On the corporate front, Purifloh continues to work towards resuming trading on the ASX. The company has completed all outstanding disclosures and engaged with the ASX regarding compliance with Listing Rules 12.1 and 12.2. A general meeting scheduled for late January 2025 seeks shareholder approval for a $2 million capital raise via placement and conversion of debt and accrued fees into equity.
However, Purifloh faces a critical deadline for reinstatement of its shares on the ASX by 15 February 2025, which it will not meet. The company has applied for an extension but acknowledges there is no guarantee of approval. This uncertainty introduces a risk factor that investors will watch closely.
Financial Position and Outlook
Financially, Purifloh has managed its operations conservatively, drawing down an additional $71,000 from its Dilato facility during the quarter and maintaining approximately $1.838 million in available financing. Operating expenses were primarily directed towards R&D, including staff, rent, and equipment costs. The company’s cash flow report indicates a focus on essential expenditures to sustain development momentum while managing liquidity prudently.
Looking ahead, Purifloh’s priorities include advancing pilot plant preparations, completing the BRII feasibility study, pursuing further grant funding, and strengthening its IP portfolio. The company also aims to deepen collaborations with industry and research partners to accelerate commercialisation pathways.
Bottom Line?
Purifloh’s technological strides and funding wins are promising, but ASX trading uncertainties cast a shadow over near-term investor confidence.
Questions in the middle?
- Will Purifloh secure the ASX extension needed to resume trading and maintain market access?
- How will the pilot plant proposal with the Department of Defence influence commercial adoption?
- Can the company successfully convert its BRII feasibility grant into the $1 million proof-of-concept funding?