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Phoslock Environmental Technologies Limited ( (AU:PET) ) has provided an update.
Phoslock Environmental Technologies Limited announced updates on its operations and business model as it prepares for reinstatement on the ASX. The company reported a cash position of $6.2 million as of June 30, 2025, despite a cash flow deficit in the quarter. Sales have increased significantly compared to the previous year, with a focus on expanding into new markets such as wastewater treatment. The refurbishment of its Changxing factory is nearing completion, with commercial production expected to resume later in 2025 or early 2026. The company is also involved in ongoing legal proceedings, including a group proceeding in the Federal Court of Australia and a cross claim from KPMG. Early mediation is scheduled for September to address these legal matters.
More about Phoslock Environmental Technologies Limited
Phoslock Environmental Technologies Limited operates in the environmental technology industry, focusing on water treatment solutions. The company is known for its products that address water pollution, particularly through phosphorus binding, and has a significant market presence in regions like China and Brazil.
Technical Sentiment Signal: Sell
Current Market Cap: A$15.63M
See more data about PET stock on TipRanks’ Stock Analysis page.