PARKD (ASX: PKD) has sealed an exclusive licencing agreement with Fielders Steel Roofing – a division of BlueScope Steel – for the group’s intellectual property (IP) rights connected to its metal decking support bracket (MDSB) and metal deck support system (MDSS) used in the construction of car parks and other commercial structures.
More specifically, PARKD has granted Fielders an exclusive five year licence to manufacture, market, distribute, and sell the MDSB and MDSS technologies within Australia.
Commercialisation prospects
Management noted that the deal creates confidence for an immediate go-to-market strategy in Australia, helping to swell PARKD’s addressable market and the possible applications of its IP.
The agreement follows more than two years of extensive testing and certification works by PARKDs engineers to meet the strict performance criteria required for the agreement.
PARKDs MDSB product will now be paired with Fielders’ SlimDek210 high performance structural formwork as a complete engineered solution, which the two businesses will look to commercialise.
Improved efficiency
Here, the MDSS product introduces a simple support element, MDSB, into the SlimDek210 solution to provide a new and unique structural system which utilises common construction techniques on site.
This system is designed to boost productivity and efficiency whilst reducing project costs due to predetermined workflow and sequencing. It achieves this by maximising offsite prefabrication and by modularising the structure frame.
Fielders will mainly lead the advertising, marketing and tendering of the complete solution to a broad range of residential, commercial, industrial and infrastructure projects.
PARKD and Fielders have agreed a royalty fee for the sale of the complete solution on a per metre and unit basis. This allows both businesses to benefit from the added value of MDSB and the increased market opportunity from SlimDek210 sales.
The duo now plans to fine tune a marketing strategy which is expected to be concluded in the second half of the 2025 financial year (FY25). The execution of commercial opportunities is projected to commence in FY26.
Additional opportunities
Fielders will also have the first right to negotiate additional international licences for MDSB and the complete engineered solution in the US, New Zealand, Indonesia, Japan, India, and Canada. These geographic locations have been earmarked by Fielders as future growth markets.
PARKD managing director, Peter McUtchen, commented:
“PARKD recognised the potential, its simple, yet ingenious connection system could present to the broader construction market.
This small yet critical invention is the key to unlock the aspirations of the construction sector to meaningfully improve safety, productivity, costs and particularly sustainability goals of the government and private sectors.”
Innovative technology
PARKD has been recognised as an ‘Early Stage Innovation’ company by the Australian government and has recently received an innovation patent for its technology.
Its core IP is utilised in the group’s prefabricated construction solution known as the ‘PARKD Car Park Structural System’ which has been developed for commercial and industrial applications.
More specifically, the company holds IP rights for features of an innovative and lightweight concrete modular car parking system. The modular aspect of the system and the minimisation of structural weight provides the ability to relocate the car park or adapt it to according to demand.