News and Announcements
Long Pipes Completes Commercial Contract & Signs US MoU
- Published August 15, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
Globally unique.. Uniquely Global
- Long Pipes IM Now Available
- Following the successful completion of its first major contract, Long Pipes is now ready to commence its overseas expansion strategy.
- A JV MOU has been signed with a US Company for establishing Houston based production by Q2, 2019.
- The immediate focus in the US is waste water transportation from shale gas operations, followed by opportunities in oil and gas transportation.
- The primary purpose of this funding round is to prepare for market entry in Houston through the US JV.
- Globally Unique– The Long Pipes Fluid Highway™ is patented in multiple countries.
- The Long Pipes advanced technology produces composite pipelines with few or limited joints over long distances.
- Uniquely global– Long Pipes has developed a highly responsive global expansion model involving licensing of technology to local partners in each geography, thereby minimising risk and capital requirements.
- Long Pipes positively impacts energy, water and climate, enabling the transition to the new renewables and hydrogen economy.
- Currently Raising: up to $5M at 40 cents
- Liquidity Strategy: Stock Market listing or Trade sale.
Completion of first fully commercial contract
The Company is pleased to have recently announced two key milestones in its development. The first was the completion in early 2018 of its first fully commercial contract, when it laid 10 km of pipeline at a mine site in Laverton, Western Australia. This required extensive logistics planning due to the remoteness of the location, as well as compliance with full mine site safety and operating conditions. It also involved operating in a harsh desert environment and was a true test of our team, our Pipe Production Machine and our “Resin Wave” technology. The pipeline was successfully completed, tested, and handed over to the mine operator in May.
Signing of a MoU with a US pipeline construction company
The second milestone was the signing, together with a US pipeline construction company, of a Memorandum of Understanding for the immediate establishment of a Joint Venture Pipe Production company in the US. This is an exciting development, as it enables the Company to accelerate its expansion into the huge US market and validates our technology and business strategy. The MOU provides for the US partner to provide the operational capital for the JV, and for the acquisition of shares in Long Pipes Limited, thus providing further development capital for the Company. Commencement of production in the US is targeted for 2019.
Long Pipes holds the intellectual property of the Fluid HighwayTM technology and is seeking up to $5 million from investors. This capital will be used firstly for formalising the structure and details of the US partnership and preparing the equipment for export to the US in order to be ready for 2019 production commencement. In addition, we will continue with our intensive preparation for ISO certification and pipeline certification.
An additional $5 million is sought from current and new investors at the price of 40 cents per ordinary share in Long Pipes Limited.
To read the company’s updated IM in full, please click here to request interest.
About Long Pipes Ltd
Long Pipes Ltd is a global game changer for the distribution of fluids around our planet for companies, governments, economies and regions using the Fluid Highway. First major contract for 10kms completed 2018, 250kms expected 2019, full growth 2020 into the international markets outside US and Australia. Ultimate objective once we are fully operational and certified:- accessing the immediately addressable markets of $11B/yr as we go global.
Looking for Projects and suitable JV Production Co-Partners in the relevant markets.
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