Key Takeaways:
- Strengthened Financial Position: Desert Control AS improved its financial status post-Q3 2023.
- Successful Capital Raise: Secured over NOK 100M in liquidity, including a NOK 67.50 million raise in Q3, supporting commercialization through H1-2025.
- New Pilot Projects in the U.S.: Secured five new projects, aligning with quarterly performance targets.
- Strategic Shift in the Middle East: Transitioning to a licensed operator model to enhance operational efficiency.
- Deployment in Saudi Arabia: Preparing for the first LNC production unit deployment.
Financial Performance of Desert Control
- Q3 Revenue: NOK 0.2 million, an increase from NOK 0.1 million in Q3 2022.
- Q3 EBITDA: Improved to NOK -17.9 million from NOK -21.6 million in the previous year.
- Net Income: NOK -19.3 million, compared to NOK -14.7 million in Q3 2022.
- First Nine Months Revenue: NOK 2.6 million, up from NOK 1.2 million in the same period of 2022.
- Cash Balance: NOK 35.0 million as of September 30, 2023, with additional post-quarter funds bringing the total to NOK 91.9 million.
Future Outlook
Desert Control’s recent financial achievements and strategic initiatives position the company for continued progress in its commercialization phase, focusing on expanding its global footprint and operational efficiency.
Desert Control Latest News
Desert Control’s Liquid Natural Clay Innovation (2023/08/29)
Desert Control is revolutionizing sustainable agriculture with its patented Liquid Natural Clay (LNC) innovation. LNC rejuvenates sandy and degraded soils, promoting healthy plant growth and environmental sustainability. Desert Control is making significant strides in the U.S. Southwest and Middle Eastern markets, empowering local partners to produce and sell LNCs tailored to their unique needs. The company’s success is evidenced by ten new pilot initiatives across Arizona and California, with up to a 50% improvement in water and nutrient use efficiency. The World Economic Forum recognizes LNC as a top innovation for bolstering soil health and resilience.
Liquid Natural Clay Gets Certified Organic Farming From MoIAT (2023/05/17)
Desert Control’s Liquid Natural Clay (LNC) has recently received official approval and certification for organic farming from the UAE’s Ministry of Industry and Advanced Technologies (MoIAT) in consultation with the Ministry of Climate Change and Environment (MOCCAE). This marks a significant milestone for Desert Control that enables resilient and climate-smart agriculture and desert farming in a world that is becoming increasingly dry. In addition, the organic certification validates the effectiveness and safety of LNC as a solution for organic farming, ensuring that it meets strict standards for the manufacturing process and raw materials, including the absence of synthetic chemicals and harmful substances. The recognition also highlights the importance of sustainable and eco-friendly solutions for agriculture as more people and countries seek to adopt practices that are better for the environment and promote food security.
Image provided by Desert Control
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