Up 700% this year, what's sending the Environmental Group (ASX:EGL) share price 38% higher today?

The environmental protection company has announced impressive trial results on overcoming PFAS chemical contamination.

| More on:
A female scientist sits at a microscope in a Universal Biosensors laboratory smiling while her colleague checks beakers of COVID-19 samples in the background.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Environmental Group Ltd (ASX: EGL) share price is rocketing today, up 38% at time of writing.

Below, we take a look at the results from the facility service and environmental solutions company's commercial water treatment trial that looks to be driving ASX investor interest.

What commercial water trial results were announced?

The Environmental Group share price is surging after the company reported positive results from its commercial PFAS water trial with Reclaim Waste.

PFAS, according to the release, stands for per- and poly-fluoroalkyl substances. The manmade chemicals "are very persistent in the environment and in the human body meaning they don't break down and can accumulate over time".

The trial, using the Environmental Group's foam fractionation technology, was conducted across a number of commercial waste streams and liquid waste types polluted with PFAS at different concentrations.

The company reported it had successfully separated and removed the PFAS to "below detection levels" in every high-volume, low concentrate trial. Additionally, it was able to separate and remove 99.4% of PFAS from its first processing run on the highest concentration trials.

Commenting on the trial results, the Environmental Group's CEO, Jason Dixon, said:

By running various waste streams at different concentrations it has given us great confidence that the technology has the ability to separate PFAS for destruction across a wide range of liquid waste types covering the majority of the market for PFAS removal.

The trial plant can treat some 50,000 litres per day. It's operating at Reclaim Waste's site in Victoria.

In other news that could be providing a tailwind for the Environmental Group share price today, the company announced it has received firm commitments to raise $4.75 million (before costs) through a share placement.

The Group expects to issue some 27.1 million shares at 17.5 cents per share "to advance commercialisation and support other business development opportunities".

Environmental Group share price snapshot

The Environmental Group share price has been a stellar performer this year, up 700% since 4 January. By comparison, the All Ordinaries Index (ASX: XAO) has gained 11% year-to-date.

Over the past month, shares in the Environmental Group have gained 41%.

Should you invest $1,000 in Environmental Group right now?

Before you buy Environmental Group shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Environmental Group wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Technology Shares

Guess which ASX 200 tech stock is crashing 14% on results day

This tech stock is having a rough time today. But why?

Read more »

Data Centre Technology
Technology Shares

Is it too late to buy NextDC shares?

NextDC's share price has surged over the last couple of weeks. Will it continue?

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Technology Shares

Guess which ASX 200 tech stock is crashing 25% following an update

This tech stock is being sold off on Wednesday. But why?

Read more »

A young man goes over his finances and investment portfolio at home.
Technology Shares

Why are WiseTech shares sinking 6% today?

What's going on? Let's find out what is happening with this tech stock today.

Read more »

Two IT professionals walk along a wall of mainframes in a data centre discussing various things
AI Stocks

NextDC share price lifts off on record quarterly contract wins

AI-fuelled data centre demand is lifting investor interest in the ASX 200 tech stock today.

Read more »

group of traders cheering at stock market
Technology Shares

What drove a 10% surge in ASX 200 tech shares last week?

The ASX 200 roared to a 2-month high on Friday, with tech shares leading the 11 market sectors last week.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Technology Shares

Why is the Block share price crashing 33%?

This payment giant's shares are being hammered today. But why?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Technology Shares

These ASX 200 tech stocks could rise 20% to 35%

Goldman Sachs is tipping these shares to rise strongly from current levels.

Read more »