Relivit signs over $1million in contracts

17th May, 2013.

Relivit has signed contracts with a number of aged care organisations and a washroom waste management provider in May, with a total contract value well over $1 million.

In the last month Anglicare Chesalon Care and SummitCare have signed contracts with Relivit, which will take effect with the commencement of the service in 2014. This adds to the first contract with Southern Cross Care; Relivit is confident that other aged care organisations will follow suit in the coming months.

The company expects to obtain 2,000 tonnes per year under contract by the end of May and 5,000 tonnes by August. This will be half the break‐even tonnage required at plant opening in mid‐late 2014.

In the past 6 months more than 30 aged care organisations have signed letters of intent to take the Relivit service. These organisations manage well over 100 facilities in NSW producing in excess of 5,000 tonnes per year of pad waste. The list reads like a who’s who of Sydney’s leading aged care providers with 8 out of 10 of the largest providers represented, including names such as Anglican Retirement Villages (ARV), Baptist Community Services NSW & ACT, Catholic Healthcare, Domain Principal, Hall and Prior Aged Care, HammondCare and Kennedy Health Care. Relivit expects to convert a number of these letters of intent to contract in the near future.

SummitCare and ARV are two organisations that are striving to manage the environmental impact of their aged care facilities; both have ambitious programs to further reduce waste and increase recycling.

As John Engeler, Group Manager – Accommodation for SummitCare put it “for every dollar we spend on waste, it’s one dollar less we can spend on our residents. But residents and their families also expect us to care for the environment. Good waste management practices are helping us achieve both these potentially competing objectives.”

More details of the first contract within the washroom waste management sector will be released in the next few weeks – watch this space!

Capital raising update 

Relivit is progressing well with its capital raising activities in Round 2 of $400k on the ASSOB platform. The company has secured $190k of investment in this round and there is a further $50k of share applications making its way through review. So, over halfway there in Round 2, and we look forward to welcoming more investors in the future.

For more information on the Relivit investment opportunity please contact either Gareth Williamson, Managing Director of Relivit on [email protected] or Adrian Cran of Corporate Outcomes on [email protected] .

To read the full media release, please download the document below.