• Strong quarterly operating performance with focus on core strategic growth and profitability
• Significant brine technology milestone underpins key downstream electrochemical pathway
• Advancing specific upstream and downstream projects at key strategic project locations

Parkway Corporate Ltd (ASX: PWN) has reported its activities for the quarter ending 31 December 2024. The company's Industrial Operations division, Parkway Process Solutions (PPS), generated strong group revenues of $3.48 million, underpinned by a strong contribution from the Tankweld business division. The robust operating performance was reinforced by strong cash conversion, with cash receipts from customers for the quarter of $4.08 million. Parkway's Industrial Technology division, Parkway Process Technologies (PPT), continues to build a portfolio of proprietary technologies, capable of providing highly integrated process solutions for complex wastewater and process streams. During the reporting period, the core emphasis in terms of technology development was focused on upstream brine pre-treatment, processing and concentration, and the subsequent treatment of these processed brines with downstream process technologies, including electrochemical technologies. Parkway has received results from a third-party laboratory confirming that a batch of coal seam gas (CSG) derived salts processed through a proprietary Parkway process flowsheet had produced processed salts with a high-level of purity (>99.9% NaCl). These results provide further confidence in Parkway's ability to produce high-purity salts upstream, which are of a suitable quality for downstream processing, including through electrochemical processes, for the production of high-quality green chemicals. Parkway is progressing a go-to-market strategy based on providing integrated solutions for the Queensland CSG industry, including the development of a QBS Brine Management Complex and a QBS Brine Electrolysis Complex.

Parkway's growth outlook for the Industrial Operations division remains encouraging, with a significant project backlog and a substantial pipeline of project opportunities, particularly in Victoria where water authorities are investing $15 billion in water-related infrastructure over the next 5 years. Parkway is well-placed to capture an increasing share of these project opportunities.