ENVIRONMENTAL Solutions International is seeking a strategic partner to help market its Enersludge waste disposal technology.
The company says progress with commercialising the technology has been slower than expected because traditional methods of waste disposal such as landfill continue to be used despite the environmental damage.
“As a result, we have reviewed our strategy and concluded that, whilst it is possible to continue to proceed alone, it would be preferable to find a larger strategic partner with a strong base in Europe, North America and markets outside Australia,” company chairman Terry O’Connor told shareholders this week.
The good news for ESI has been the growing number of contracts for wastewater and drinking water treatment plants.
It presently has a record order book of $75 million and “good prospects” of increasing the order book by $15 to $20 million in the next six months.
The company said a loss of $750,000 was expected in the six months to December 2003 but still anticipated a full-year profit as revenue grows in the second half of the financial year.
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