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Phoslock Environmental Technologies Limited (ASX:PET)
ALERT: Price-sensitive ASX Announcement for PET
Current share price for PET : $0.007 -0.001 (-12.50%)+
Announcement
Release
27 May 2026 9:03AM
Price at Release
$0.008
Full Release
Summary
Phoslock Environmental Technologies Limited, during its 2026 Annual General Meeting, addressed a substantial increase in sales for 2025, rebounding from the previous year's low levels. The company anticipates further growth in 2026 and 2027, contingent on market conditions and customer demand. Key initiatives include engaging with European lake restoration projects and successful trials of their Phoslock products in European wastewater facilities. A significant milestone was the resumption of production in China to meet inventory demands. However, ongoing litigation related to past irregularities in China poses uncertainties. The company is also working on a new Phoslock product with enhanced phosphorus-binding capacity.
Key Points
- Substantial sales increase in 2025 after 2024 decline
- Anticipated growth in 2026 and 2027 dependent on market conditions
- Engagement with European lake restoration projects
- Successful European wastewater facility trials
- Resumption of production in China
- Ongoing litigation related to past irregularities in China
- Development of Phoslock product with improved phosphorus-binding capacity
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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