Green360 inks agreement to fast-track its low-carbon concrete
The companies' 50:50 joint venture will produce and sell low-carbon retaining wall blocks to WA's hungry mining construction market, as well as the residential, infrastructure and commercial sectors.
Under the non-binding memorandum of understanding (MoU), PERMAcast will fund the acquisition of a specialised block-laying machine and a concrete batching plant, enabling the production of 1-metre-long low-carbon retaining wall blocks for net-zero or ESG compliant construction ventures.
The joint venture entity will have exclusive rights to purchase the blocks at cost from PERMAcast and on-sell them, with all profits shared equally between the partners.
Green360 says the agreement promises significant revenue and cash flow opportunities and will fast-track commercialisation of its new-world technology.
'… We're excited to take this step with PERMAcast toward bringing low carbon retaining wall blocks to Western Australia ...'
Green360 Technologies executive chairman Aaron Banks
The company's proprietary cement formulations use industrial by-products to ensure the blocks have a lower embodied carbon footprint compared to traditional concrete products.
The in-house production model allows for precise control over mix designs, ensuring compliance with strict performance and sustainability standards, including net-zero and ESG targets increasingly demanded by major projects.
The blocks are expected to be the joint venture's first low-carbon product sold in commercial volumes, with production equipment slated for commissioning at PERMAcast's facilities by mid-next year, pending final agreements.
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