Synertec Corporation Ltd (ASX:SOP) continued to progress its environmentally friendly technology solutions during the quarter ended September 30, 2022 (Q1 FY23) with a focus on helping the global energy industry transition to a low carbon future and reduce its environmental footprint.
Powerhouse installation for Santos
Synertec’s Powerhouse system uses a combination of an industrial-scale solar panel array, battery storage and sophisticated predictive algorithms to optimise the generation and consumption of renewable electricity without the need for a backup power source.
Powerhouse was installed on Santos’ gas well site in remote central Queensland in July this year following the completion of extensive Factory Acceptance Testing during Q4 of FY22.
During most of Q1 FY23, the Powerhouse System was subjected to extensive Site Acceptance Testing under varying loads and conditions to determine operational limits and establish the remote control and communication system network.
Potential commercial deployment of Powerhouse
Synertec managing director Michael Carroll said: “Powerhouse continues to prove its technical credentials as a reliable and commercial solution to reduce the carbon footprint of remote industrial operations.
“The operational performance of the system, and the accuracy of our modelling to actual data exceeded expectations and has provided a solid foundation for the commencement of field trials with Santos.
“The successful completion of this trial is the final step prior to the potential commercial deployment of Powerhouse.
“As the world continues to transition to a carbon-free future, technologies such as Powerhouse will allow our customers to achieve their decarbonisation goals and deliver strong sustainable returns for our company and our stakeholders.”
Engineering business update
Synertec’s engineering business generated revenue and other income (unaudited) in the range of $4.0 million for the period, up 22% versus the June quarter (Q4 FY22) and up 47% on the previous corresponding period – the fifth consecutive quarter of growth.
During the period, the engineering business secured a number of customer contracts to be performed over the next 1-2 years including an award to perform the design, supply, manufacture, construction, installation, integration, testing and commissioning of the MURL Plant Management System (PMS) and Control and Monitoring System (CMS) upgrades for the Melbourne Underground Rail Loop.
The project includes upgrades of essential fire safety equipment and systems within Melbourne’s City Loop and underground stations, including fire suppression systems, smoke ventilation and evacuation equipment.
Synertec will leverage its extensive knowledge of advanced process control systems, functional safety and systems engineering to deliver this project for the benefit of Victoria’s travelling public.
This engagement, which is currently effective, provides for payments for services on an ongoing basis and if completed in full has a total estimated price of circa $2.5 million and estimated completion date of December 2023.
Growing order book
Carroll added: “Synertec continues to deliver high calibre engineering expertise across a range of disciplines and end markets.
“The quality of our work and staff is reflected in the ongoing engagement of Synertec with long standing counterparties in Australia’s critical infrastructure, such as Melbourne Metro Trains.
“With a growing order book and the increasing number of blue-chip customers we engage with across our target sectors, this continues to provide both a financial platform and a strong and experienced technical skill set to drive our transition technologies and grow out the engineering business.”