The much-awaited Easter long weekend—known for its characteristic joy—turned fatal for many, as about 16 lives were lost to road accidents. Obviously, this calls for drivers to become more aware of their surroundings. At the same time, it raises the question: how can our roads be made safer and more resilient to accidents and crashes?
Road safety solutions company Saferoads (ASX: SRH) has an answer: its Rubber T-Lok recycled rubber crash barrier made from end-of-life tyres. It helps increase the lifespan of the barriers while engaging in waste management. It also reduces the risk for vehicle occupants. In September 2022, to validate these claims, Saferoads conducted a crash test—a MASH (Manual for Assessing Safety Hardware) Test Level 3 (TL-3), a 2.27-tonne quad cab pickup at a speed of 100km/h, at an angle of 25 degrees. The car survived crashing into the barrier, as did the barrier itself.
Thanks to that, the Company’s Rubber T-Lok has received formal regulatory approval in Australia from the Austroads Safety Barrier Assessment Panel (ASBAP). Saferoads also gained approval from Transport for NSW for this product. It is a significant milestone for the commercialisation of Rubber T-Lok in Australia, with the next step being to obtain remaining state approvals.
Saferoads’ Engineering Manager, Casey McMaster, said, “We are all excited to see the research and development process for this innovative product successfully completed and it becomes available to customers. This product is the first of its kind in the temporary crash barrier market in terms of contributing to sustainability.”
The Rubber T-Lok Barrier was developed in collaboration with the University of Melbourne and funded by Tyre Stewardship Australia. The product seeks to reduce the environmental impact of end-of-life tyres by utilising recycled rubber crumbs as a component of the concrete barrier.
In Q3 FY23, the Company’s unaudited revenue amounts to about $3.5 million, less than half of its entire H1 FY23 revenue, i.e. $7.7 million, up 39% on H1 FY22. Saferoads’ product sales were up by over 50% to $5 million, bolstered by the initial sales of its T-Lok barrier to a major national rental company for its rental fleet expansion. On the management side, the Company appointed a new CFO—Mark Langham, after the departure of Peter Fearns.
The Company continues to expand its Road Safety Rental division, and it has locked in a location for a new branch in Queensland. The new premises are located in Luscombe, Queensland, approximately halfway between Brisbane and the Gold Coast. This brings the total number of branches for this division to three, with projects in Victoria, New South Wales and Southern Queensland.
Despite its bid at improving road safety, the Company’s own safety practices have come into question. On November 26, 2021, at Saferoads’ Victorian Road Safety Rental branch, a third-party transport driver died. The Company has been cooperating with the relevant authorities in their investigations into this incident. After the end of H1 FY23, Saferoads has been served with six charges alleging breaches of the OH&S (occupational health and safety) Act.
As drivers continue to battle accidents and crashes on the roads, Saferoads’ rubber barrier is a noteworthy innovation that, evidently, needs to be accompanied by many more.
Alinda is a Business Reporter for The Sentiment
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