Tapping into new revenue streams
HydroWorks designs and manufactures world-class hydropower turbines and related equipment for electricity generators, using world-class turbine design methods.
Following the acquisition of the precision engineering division of MACE Engineering in May 2015, HydroWorks now delivers a full range of design, manufacturing, installation and maintenance services, under one roof.
The nature of long-term hydro projects means that HydroWorks has a high degree of visibility on orders two years out. It is on target to meet its forecast revenues for FY2016 and FY2017, with over 80% either confirmed or at preferred tenderer status. HydroWorks is now bidding for and winning contracts in New Zealand and Australia.
HydroWorks has established itself as a respected and trusted supplier to the hydro industry.
HydroWorks has delivered more than 35 bespoke turbine and ancillary equipment solutions for blue chip power generators across Australasia and the Pacific. It has ambitions to expand into East Asia, where there is strong growth in new builds.
Driven by ageing existing hydro infrastructure, international interest in green low-carbon power and the desire for new hydro generation with minimal environmental impact, HydroWorks has developed four revenue streams:
- Reengineering – refurbishing ageing 20th century turbines to extend life and profitability
- New Build – bespoke solutions for new hydro generation infrastructure
- Services, Maintenance & Consultancy
- Precision Engineering – leveraging its world class Precision Engineering capability
Powerhouse and HydroWorks have been working together since 2010.
Through the investments it has led and its position on HydroWorks’ Board, Powerhouse has been instrumental in defining HydroWorks’ strategy, including its acquisition of a manufacturing capability and its planned initial public offering (IPO) on the ASX in 2016.