Parkway Corporate Limited advised it has achieved an important milestone in relation to the commercialisation of the iBC« technology platform. During the 2022 Annual General Meeting (AGM) presentation, Parkway announced it had recently achieved a major breakthrough in relation to the treatment of concentrated coal seam gas (CSG) derived brines, through a proprietary iBC« based flowsheet. These highly encouraging results were initially achieved at an experimental scale on small (300 mL) brine samples, and later validated at bench scale on larger (7.5 - 12.5 L) concentrated brine samples, representing a 25 - 40x scale-up.

Following confirmation the bench scale testing had achieved all key process parameters, throughout December 2022, the preferred flowsheet was subsequently scaled-up by a further 80x in the recently commissioned iBC« pilot plant, where a 1,000 L bulk CSG brine sample was tested. The large scale iBC« piloting, was intended to achieve a range of critical objectives, including, i) demonstration of the scalability of the results achieved during the bench scale piloting, as well as, ii) provide confidence that each of the key unit operations in the proprietary iBC« based flowsheet, are capable of being implemented, and operated at a commercial scale in an industrial application. Importantly, the large scale iBC« piloting included all the process steps, inclusive of several pre- treatment and post-treatment stages, which collectively constitute the proprietary flowsheet developed by Parkway.

The results announced today, confirm all of the objectives from the large scale iBC« piloting have now been achieved successfully, with initial indications that the performance of several key unit operations within the iBC« based flowsheet have exceeded the performance of earlier bench scale piloting. Product samples produced during the large scale iBC« piloting were confirmed to be comparable to the bench scale results, with third party analytical laboratory results indicating, the quality of the primary target product (50% sodium hydroxide solution), likely to be superior based on a range of parameters. The product samples produced during the large scale iBC« piloting, are intended to be used for further internal testwork, as well as industry evaluation, to ensure product specifications are consistent with established industry benchmarks for the respective industrial chemical products.