Sprintex Limited has raised $1.5 million through a strategic placement to advance its ammonia-reduction technology in Europe, supported by pending orders worth €9.3 million. The funding underscores growing investor confidence amid tightening environmental regulations.
- Raised $1.5 million via placement of 30 million shares at $0.05 each
- Placement led by MWP Partners with backing from China Automotive Holdings and Euro Mark
- Funds aimed at working capital and collaboration with Mest Water on ZLD-UP ammonia-reduction systems
- Pending orders valued at €9.3 million linked to Van Drie Group deployments in the Netherlands
- Field trials for large-scale system installations scheduled imminently
Strategic Capital Injection
Sprintex Limited (ASX – SIX) has successfully secured $1.5 million through a placement of 30 million new shares priced at $0.05 each. This capital raise was anchored by Hong Kong-based MWP Partners Limited and supported by existing major shareholders China Automotive Holdings and Euro Mark Limited, alongside an international institutional investor. The placement also includes attaching options exercisable at $0.10, signaling strong investor appetite for Sprintex’s growth prospects.
Advancing Ammonia-Reduction Technology
The funds are earmarked to bolster working capital and accelerate Sprintex’s collaboration with Mest Water, an exclusive partner focused on zero liquid discharge (ZLD-UP) ammonia-reduction systems. These systems are designed to meet increasingly stringent environmental regulations in the Netherlands and across the European Union, where ammonia emissions are under heightened scrutiny.
Pending Multi-Million Euro Orders
Sprintex and Mest Water are progressing towards fulfilling pending orders valued at €9.3 million (approximately A$16.6 million), tied to a large-scale deployment with Van Drie Group, the Netherlands’ largest veal producer. Field trials are set to commence shortly, with initial system installations scheduled in the coming week. This rollout is expected to lead into a broader 200-system program, marking a significant commercial milestone for Sprintex’s clean technology solutions.
Market and Regulatory Tailwinds
Executive Chairman Steven Apedaile highlighted the placement as a strong endorsement of Sprintex’s near-term growth trajectory. The company is well-positioned to capitalize on regulatory drivers that are increasing demand for high-efficiency ammonia-reduction technologies. This strategic funding round not only strengthens Sprintex’s balance sheet but also enhances its capacity to scale operations and meet anticipated market demand.
Looking Ahead
With the placement shares and options expected to be issued by mid-October, Sprintex is gearing up for a critical phase of commercial execution. The success of the upcoming field trials and contract finalizations will be pivotal in validating the company’s technology and unlocking further growth opportunities in Europe’s clean technology sector.
Bottom Line?
Sprintex’s latest capital raise sets the stage for a decisive push into Europe’s regulated ammonia-reduction market, with pending contracts poised to transform its growth outlook.
Questions in the middle?
- Will the pending €9.3 million orders convert into firm contracts following field trials?
- How will the market respond to the dilution impact from the placement and options issuance?
- What are the prospects for Sprintex expanding its ammonia-reduction technology beyond the Netherlands and EU?