- Investment Round: Series B2
- Total Raise: A$12.5 million
- Remaining on Offer: A$2.5 million
- Pre-money Valuation: Not specified for this round, but previous B-Series valuation was A$35 million
- Use of Funds: Market entry and expansion, including strategic investments in sales, marketing, product development, and operational scaling.
Eco Detection Pty Ltd
ECO1
Lead Manager
Minimum Investment
A$100,000
Offer Details
Issue Price (Per Share)
A$959.820
Offer Size
A$2,500,000
Shares Available
2,605
Company Overview
Eco Detection Pty Ltd is a leading innovator in water quality monitoring technology. The company offers a best-in-class autonomous platform that provides lab-grade, high-frequency data, significantly enhancing traditional manual sampling methods. Eco Detection's technology measures up to 14 parameters simultaneously, with real-time cloud connectivity for rapid alerts and reports. This approach supports strong monetisation through equipment sales, leasing, and a recurring income model for consumables and data. Eco Detection’s go-to-market strategy is being successfully executed, with December 2024 YTD sales of A$800,000, a 138% increase on FY24 total sales of A$338,000.
Traditional water monitoring is outdated
Manual sampling of water is slow, expensive and infrequent concerning governments and communities.
Penalties are pushing orgs for solutions
Continuous monitoring is the only effective means of meeting new, high frequency monitoring legislation.
Eco Detection has a best-in-class autonomous platform
Lab-grade, high-frequency data provides 1200x more data than manual grabs.
Monitored service
Eco Detection measures up to 14 parameters simultaneously with cloud connectivity providing rapid alerts and reports.
Strong monetisation
Equipment sales and leasing with an expanding recurring income model for consumables and data.
Global Market Opportunity
The global water quality monitoring market is projected to reach US$19.9 billion by 2031, driven by stricter environmental regulations and increased accountability for corporate directors. Legislation, such as Section 82 of the UK Environmental Act 2021, mandates continuous monitoring upstream and downstream of sewerage undertakers' assets to assess discharge impact. This creates significant opportunities for innovative solutions like Eco Detection's Ion-Q technology. Additionally, the environmental lab analysis market is expected to grow to US$5.5 billion by 2031, reflecting rising demand for high-frequency, cost-effective monitoring systems.
In England alone, approximately 14,100 storm overflow sites will require continuous monitoring under the National Storm Overflows Plan, highlighting the scale of this market. Similar regulatory upgrades are underway in Europe and the United States, emphasising the global relevance of Eco Detection's solutions. These trends underscore a large and expanding market for advanced water quality monitoring technologies that align with evolving compliance requirements and environmental sustainability goals.
Critical Applications in Mining
Sector
Description
Eco Detection Targets
Gold Extraction and Processing
Water monitoring in gold mining is crucial to prevent contamination from chemicals like cyanide and heavy metals. Continuous testing ensures regulatory compliance, protects ecosystems, and safeguards community health near mining sites.
Arsenic*, Cyanide*
Lithium Brine Extraction
Water monitoring in lithium brine extraction is essential to manage the impacts on local water resources, ensuring sustainable groundwater levels, controlling salinity, and preventing contamination from chemical reagents used in the extraction process.
Lithium
Explosives Residue
Water monitoring for explosive residues in mining is critical to detect nitrates, ammonia, and other byproducts that can contaminate groundwater and surface water, ensuring compliance with environmental regulations and protecting aquatic ecosystems.
Ammonium, Nitrate
Environmental Outflows from Site
Monitoring mine site environmental outflows is essential to prevent harmful substances, such as heavy metals, acids, and chemicals, from entering surrounding waterways. Continuous assessment ensures compliance with environmental standards and protects ecosystems
Broad range of anions/cations
Groundwater and Long-Term Monitoring Post Closure
Groundwater monitoring during mine site remediation is crucial for detecting contaminants like heavy metals, acids, and residual chemicals. Continuous testing ensures the effectiveness of remediation efforts, safeguarding water quality and ecosystem health.
Broad range of anions/cations
De-watering
Water quality monitoring during dewatering in mining is crucial to detect contaminants such as heavy metals, suspended solids, and chemicals. This ensures discharged water meets environmental standards, protecting nearby ecosystems and water resource
Broad range of anions/cations
Healthy Water for Remote Communities
Real-time sampling, analysis and reporting of water quality data greatly reduces health risk and save lives.
Unsafe levels of Nitrate detected in remote Australian indigenous communities and the delays in issuing ‘no drink’ notices were up to 9 months, putting the health of regional communities at great risk.
Failure of water bore pumps and casings, as a result of iron precipitation and fouling, can starve communities of water supply, and is both difficult and expensive to repair. Early identification of elevated Fe(II) through continuous water monitoring can reduce the risk of stopping water supply.
Major reductions in total cost and carbon footprint are achievable by reducing the ongoing extensive travel to remote locations for taking grab samples and returning them to a lab. Eco Detection has projects in the planning phase in Western Australia and the Northern Territory and was a beneficiary of a $500k grant from the Advanced Manufacturing Growth Centre (AMGC).
Broad Target Customer Base
Industry
Description
Target Customer
Environmental Monitoring
Freshwater river, lake systems and marine environments managed and located near farming and areas of heavy agriculture. Eco Detection data supports compliance, fertiliser management and environmentally-conscious farming
Catchment management authorities, large pastoral users
Wastewater Treatment & Management
Eco Detection can assist Supervisory Control and Data Acquisition (SCADA) control systems to ensure that treated water is meeting required standards for release into the environment
Water utilities, local and regional councils, plant operators, monitoring agencies
Aquaculture & Horticulture
Data to demonstrate nutrient levels are within optimum ranges for irrigation to land and productivity. Avoid elevated levels of nutrients which are toxic to aquatic ecosystems
Farm operators, water license holders
Urban & Industrial Waterways
Eco Detection data supports quality assurance and compliance. Industry can monitor its water input/output streams and optimise processes to meet with regulation and avoid environmental risks to operations
Large industrial water users
Mining, Coal Seam Gas & Energy
Continuous monitoring of process and storage water concentrations to provide evidence of compliance and remediation. Real-time contaminant alerts for improved response times to environmental leaching
Mining operators, site remediation contractors
Drinking Water
Monitoring to ensure that drinking water meets required standards
Water utilities
Compelling Value Proposition
Other water monitoring detection technologies are in the market but are limited by their scope, performance, reliability and cost. Other technologies require the addition of further equipment to operate while Eco Detection Ion-Q is an all-in-one solution.
DaaS model
Eco Detection installs and maintains the hardware, provides data support and oversight for customers. Unique in the industry.
Rapid
High quality, laboratory grade data available in minutes, vs days/weeks for laboratory analysis
Cost per analysis
1/50th of laboratory analysis fee
Unique in industry 14 parameters per analysis cycle
Measurement includes total inorganic nitrogen (ammonium, nitrate & nitrite) & phosphate (dissolved reactive phosphorous) in the one machine
No calibration required in field
Probes used in market require constant calibration, which is impractical for remote locations
Fully remote operation
Large Addressable Market
Engineering & Production
35 FTE at Eco Detection across sales, field support, management, production and engineering.
Significant intellectual property and know-how developed to manufacture, test and calibrateIon-Q+ products.
Inventory and production management systems in place.
Global supply chain from tier-1 suppliers, with a combination of off-the-shelf and proprietary components being delivered to Eco Detection for final assembly, testing and validation.
Capacity in place to build 1,000 devices per annum in the current facility, with ability to scale via local contract manufacturing support.
Built on Sustainable IP
- Leveraging a proven technology platform: Eco Detection’s innovative technology was originally designed for military and security purposes by Eco Detection’s sister company, GreyScan and the University of Tasmania, in searching for fertiliser-based explosive devices.
- $40 million in combined research and development spend: Investment is now leveraged into the water quality monitoring market through additional investment by Eco Detection to extend the technology.
- License exclusivity: Eco Detection holds an exclusive, perpetual license from the University of Tasmania for the commercialisation of this innovative technology platform for environmental monitoring.
- The exclusive license also encompasses background IP in CZE held through the following patents:
- AU2012903482, Electrophoretic Separation of Analytes (filed on 13 August 2012); and
- PCT/AU2013/000889 and PCT/AU2017050861, Inorganic Ion Detection System and Methods; and
- Cross license with GreyScan provisional patent on elution and detection (2016903232).
Use of Funds
AU$12.5m
Sales & Marketing & Product Support
-
Build business development capacity - in progress
-
Build sales teams and deploy sales reps throughout Australia and New Zealand - in progress
-
Implement full marketing and advertising program - in progress
✓ Build Scientific Board (KOL) ✓ Build science/analytic capability
-
Gain ISO 17025 certification – in progress
-
UK rollout – in progress
✓ Establish UK entity
-
Conduct UK trials – in progress
R&D Programs & Other Use of Funds
- Extend detection capability - in progress
- Boreholes - freshwater - in progress
Wastewater Treatment Product Rollout
- Build installation team and partnerships in Australia, New Zealand and UK – in progress
- Manufacture 60 units - in progress
- Expand platform management capability - fleet management, data visualisation, AI – in progress
- Algorithm improvements in detection of new chemicals – in progress
- Product robustness and cost enhancements – in progress
- Development of UK product variant to meet Section 82 requirements – in progress
- Increase production and test infrastructure capability – in progress
Documents & Downloads
Board & Management
Matthew Bungey
Non-Executive Chair
Significant experience advising global companies. Former MD Barclays Investment Banking.
Jefferson Harcourt
Director & CEO
Founder of cutting-edge technology companies for over 20 years.
Peter Stokes
Non-Executive Director
Over 25 years’ experience across the resources and logistics sectors.
William Cadogan
Non-Executive Director
Significant experience in global finance and investment banking. Formerly with Cazenove.
Antony Wyborn
Non-Executive Director
Passionate about environment & regenerative farming.
Bruce Mathieson
Non-Executive Director
Significant investment & operational experience.
Mandie Lammens
COO & Company Secretary
Experienced corporate executive and Company Secretary.
Tim Whyte
CFO
Experienced corporate CFO and Chartered Accountant.
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