Synertec Corporation notches major quarterly milestone with Powerhouse unit field trial

Synertec Corporation Ltd (ASX:SOP) made broad progress in the December quarter toward commercialising its proprietary Powerhouse technology, a solar and battery power system designed to provide reliable renewable base power load for remote areas.

The company recently began a field trial with Powerhouse as the final stage of testing, replacing a bank of fossil fuel generators at a Santos Ltd (ASX:STO) oil field to supply base load power to eight gas wells across about 10 square kilometres in remote central Queensland.

So far, Synertec says the Powerhouse unit has successfully provided more than 50 operating days of uninterrupted power, emission-free, despite several severe weather events.

“Poised to deliver transformational growth”

“The Powerhouse field trials with Santos are progressing well and continue to demonstrate Powerhouse’s technical credentials as a reliable and commercial solution to reduce the carbon footprint of remote industrial operations,” Synertec Corporation managing director Michael Carroll said.

“With a large addressable market both domestically and internationally, Powerhouse is poised to deliver transformational growth for the company.

“With the continued positive financial and operational performance of our engineering business and the commercialisation of our technologies that help the global energy transition to a low carbon future, Synertec is well positioned to deliver growth in FY23 and beyond.”

The company is advancing commercial-scale production and contract negotiations for Powerhouse as its flagship technology.

Several component suppliers have committed to key supply chain performance criteria and Synertec’s engineering division has completed several key activities, including:

• Award of a long-term contract with Melbourne Water with value of about $9 to $10 million over three years (with an option for a two-year extension) supporting project work across Melbourne Water’s operational asset base.
• Other key new engineering services including work to improve current gas supply infrastructure with APA and Woodside and appointment to the engineering panel for Victoria’s Suburban Rail Loop infrastructure project.

“The contract award, which extends our 15-year engagement with Melbourne Water, delivers an expansion of our activities across their operational asset base,” Carroll said.

“Melbourne Water has been a cornerstone customer of our engineering business and the contract award reflects the ability of our team of automation and control specialists to execute and solve our customers' complex operational problems.”

Read more on Proactive Investors AU

Disclaimer