🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 1: STRATEGIC BRIEF)
EXACT SPV ACNs, PARCEL ADDRESSES & DIRECT MOBILES HELD BY HATTR
DEAL 03 OF 06 · ARCHETYPE A · GREEN MANUFACTURING & HEAVY INDUSTRIAL CLUSTER
PAGE 1 OF 2 · ORIGINATION & STRATEGY
PROJECT GEOPOLYMER — South-West SIA Circular Manufacturing & Industrial Hub
SOUTH-WEST INDUSTRIAL LGA · Stealth SPV GST Active Sep 2025 · 4.0–7.5 MW high-load-factor C&I · Intercept: T-24m
| Owner / SPV Proof |
CIRCULAR MATERIALS VENTURE C via stealth property SPV STEALTH PROPERTY (SIA) PTY LTD (ACN 691 XXX XXX / ABN 51 691 XXX XXX), incorporated 16 Sep 2025 with GST activated 26 Sep 2025. ASIC + ABR VERIFIED Public website still reads 'Our Projects: Coming Soon'. Adjacent industrial release held by CATALPA DEVELOPMENTS SPV (ACN 689 XXX XXX, GST Active 23 Jun 2026). |
| Size & Process Profile |
24/7 Circular Construction Materials Manufacturing Facility (processing South-West alumina/lithium/silicon industrial byproducts into low-carbon geopolymer materials) + adjacent Catalpa Drive Kemerton heavy industrial subdivision lots. |
| Est. Electrical Load |
4.00 MW core plant continuous/high-load-factor demand (22.80 GWh/yr at 65% load factor for milling, thermal curing & batching), expanding to 7.50 MW (~34.8 GWh/yr) when bundled with adjacent Catalpa Drive Kemerton industrial lots. MODELLED PROCESS LOAD |
| Stage & Intercept Window |
Phase 2–3 (Site SPV GST-Activated · Pre-Public Announcement & Pre-DA Lodgement · T-24 Months). Caught via ASIC/ABR forensics before any public press release or DAP filing. |
| Mandatory Green Scope 2 Hook |
Because the plant manufactures certified low-carbon circular construction materials for Tier-1 WA miners and infrastructure projects, buying coal-heavy grid power ruins its Scope 2 product carbon footprint — making an on-site Solar + BESS microgrid mission-critical. |
THE GRID PROBLEM (WHY CONVENTIONAL WESTERN POWER SUPPLY FAILS HERE)
- Kemerton SIA HV Capacity Squeeze: Fed by ZONE SUBSTATION MRR (MARRIOTT RD) / Kemerton in the South-West SWIS, where heavy industrial expansions (lithium hydroxide trains & silicon smelters) have locked up available HV feeder headroom and triggered multi-year Western Power connection queues.
- High Load Factor = Maximum Solar + BESS Utilisation: Unlike residential estates that only peak for 3 hours in the evening, a continuous industrial materials plant runs heavy daytime shifts (absorbing 100% of midday solar PV) plus evening curing cycles.
- Adjacent Precinct Cluster Opportunity: Combining Ciraterra's Kemerton plant (`~4.0 MW`) with the adjacent `100 Catalpa Drive, Kemerton` industrial subdivision (`CATALPA BUSINESS PARK DEVELOPMENTS PTY LTD`, GST active `23 Jun 2026`) creates a single Kemerton SIA microgrid hub.
WHY A PRIVATE MICROGRID WINS HERE
- Executive Team Speaks Infrastructure & BOO Fluently: Co-founder Ian Meares is a KPMG Engineering Partner and former National MD of Brookfield Multiplex Engineering & Infrastructure who has led alumina decarbonisation and wind/solar/BESS projects — he immediately understands a 25-year off-balance-sheet BOO PPA/microgrid.
- Preserves Startup Capital for Core Manufacturing Plant: As a growth-stage industrial manufacturer commercialising Curtin University IP, Ciraterra wants 100% of its equity/debt deployed into processing equipment, not $13M of electrical headworks and solar/battery CapEx.
- Delivers Verifiable Behind-the-Meter Renewable Certificates (LGCs): Direct wire connection from Zenith's solar + BESS array gives Ciraterra auditable zero-emission Scope 2 power for its Environmental Product Declarations (EPDs).
CLOSEST ZENITH PRECEDENT
Peel Business Park (EDL7/ERL28) + Zenith Remote/Hybrid C&I BOO Model: Combines Zenith's traditional single-customer industrial BOO expertise with an expandable Kemerton SIA precinct licence (similar to Peel EDL7 and Busselton EDL10).
WHO TO APPROACH (VERIFIED CHANNELS)
- Co-Founder & Commercial/Legal Lead: Principal at PERTH COMMERCIAL LAW FIRM C (DIRECT LANDLINE & EMAIL HELD BY HATTR).
- Co-Founder & Engineering Lead: Partner, Engineering & Asset Management at BIG-4 ADVISORY FIRM PERTH (DIRECT LANDLINE HELD BY HATTR).
- Adjacent Kemerton Landholder: CATALPA DEVELOPMENTS SPV (100 Catalpa Dr, Kemerton).
LICENCE & REGULATORY ROUTE
Single-site behind-the-meter BOO PPA / embedded network or EDL10/ERL33 non-contiguous licence amendment covering the wider Catalpa Drive Kemerton precinct.
Key Risk
Plant engineering and environmental approvals are still in pre-DA design; Zenith must engage Ian Meares & Matt Barone now so the microgrid is baked into their EPA/DWER and Western Power applications from Day 1.
Next Step
Unlock hattr's unredacted dossier to call CO-FOUNDER ENGINEERING PARTNER and CO-FOUNDER LEGAL PRINCIPAL in Perth.
1 Federal ASIC & ABR Registers (Reg 16 Sep 2025, GST Active 26 Sep 2025; ACN/ABN REDACTED) · 2 Corporate Filings & Curtin University Commercialisation Records (URL REDACTED) · 3 Kemerton SIA / Marriott Rd Substation Data · 4 Slide 4 Unbundled C&I Bill Model ($536,448.38 / 2.0 GWh).
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 2: ENGINEERING & BOO FINANCIAL MATH)
CALIBRATED TO WESTERN POWER TSP 2026 & WEM IRCR BENCHMARKS
DEAL 03 OF 06 · ENGINEERING SIZING, LOAD PHYSICS & 25/30-YR BOO MODEL
PAGE 2 OF 2 · THE MATHS WORK
PROJECT GEOPOLYMER — South-West SIA Circular Manufacturing & Industrial Hub — Quantitative Feasibility
Calibrated to Zenith Slide 3/4 Benchmarks ($536,448.38 / 2.0 GWh = 26.82 c/kWh), Western Power 2026/27 Tariffs & WEM IRCR Credits
PLANT + PRECINCT LOAD
4.00 MW Core (7.5 MW Hub)
22.80 GWh/yr (65% LF)
BOUNDARY METER CMD
2.50 MW (2.78 MVA)
1.50 MW Peak Shaved
RENEWABLE FRACTION
~48.5% Behind-the-Meter
Scope 2 Green EPD Ready
25-YR BOO REVENUE
$136.6M Contracted
$2.28M/yr Net EBITDA
1. BOTTOM-UP ELECTRICAL LOAD & FEEDER DEFICIT DERIVATION
Step 1 — Continuous Circular Materials Process Demand (High Load Factor C&I)
4.00 MW peak process demand × 5,700 equivalent full-load hrs/yr (65% LF) = 22.80 GWh/yr (11.40 × the 2.0 GWh Slide 4 unit)
Industrial grinding, geopolymer mixing, and thermal curing run high daytime/evening duty cycles (plus +12.0 GWh/yr upside on adjacent Catalpa Dr lots).
Step 2 — Why High Load Factor Supercharges Slide 4 Network & IRCR Savings
Standard Bundled Tariff @ 22.80 GWh = $6,115,512/yr ($1,830,908 WP Network + $1,020,004 IRCR Peak Capacity)
By shaving peak demand behind a 2.50 MW boundary connection and supplying 11.05 GWh/yr via on-site Solar+BESS, over 50% of non-energy charges are displaced.
Step 3 — Optimal Solar PV + 3.4-Hour BESS Dispatch Physics
5.50 MWp Ground/Roof Solar PV (~9.08 GWh/yr) + 3.50 MW / 12.00 MWh BESS = 11.05 GWh/yr Behind-the-Meter Dispatch
Daytime milling directly consumes ~5.2 GWh of live solar; the 12 MWh BESS stores ~3.9 GWh of excess solar + off-peak power to flatten the 16:00–21:00 peak.
Step 4 — Expansion to Full Catalpa Drive Kemerton Hub (7.50 MW / 34.80 GWh/yr)
Adding the adjacent 100 Catalpa Dr industrial subdivision (+3.50 MW / +12.00 GWh/yr) lifts BOO EBITDA from $2.28M/yr to ~$3.45M/yr
Gives Zenith a second South-West industrial microgrid hub halfway between Peel Business Park (EDL7) and Busselton (EDL10).
2. OPTIMAL MICROGRID PLANT SIZING & DISPATCH SPECIFICATION
| Microgrid Subsystem |
Engineered Rating |
Dispatch Physics & Commercial Role |
| Western Power Boundary Connection (CMD) |
2.50 MW (2.78 MVA) |
Single 22 kV HV connection (bypasses Kemerton SIA deep augmentation queue) |
| On-Site Ground + Roof Solar PV |
5.50 MWp DC / 4.40 MW AC |
Generates ~9.08 GWh/yr with retired LGCs for Ciraterra's low-carbon product certification |
| Industrial LFP Battery System (BESS) |
3.50 MW / 12.00 MWh |
3.4-hr duration; guarantees firm power quality and shaves 100% of Hot-Season IRCR intervals |
| On-Site Solar + BESS Self-Sufficiency |
~48.5% Behind-the-Meter |
11.05 GWh/yr supplied locally; 11.75 GWh/yr imported off-peak via skinny boundary meter |
3. UNBUNDLED TARIFF & REVENUE STACK (SLIDE 4 BENCHMARK SCALED TO 22.80 GWh/yr)
| Bill Component (Slide 4) |
Share |
Unit Rate |
2.0 GWh Ref |
Full Estate (11.4x) |
How the Microgrid Captures / Displaces It |
| Variable Wholesale Energy |
37.55% |
10.01 c/kWh |
$200,224 |
$2,282,554 |
Replaced by on-site Solar PV (~45–62%) + cheap off-peak grid import |
| Western Power Network (UOS/CMD) |
30.12% |
8.03 c/kWh |
$160,606 |
$1,830,908 |
Slashed via single skinny HV boundary meter (<=3.5 MW CMD) + internal LV ring |
| Peak Capacity / WEM IRCR |
16.78% |
4.47 c/kWh |
$89,474 |
$1,020,004 |
Shaved during the 12 Hot-Season peak intervals + earns ~$216k/MW/yr IRCR credits |
| Market Fees & Retail Margin |
11.16% |
2.98 c/kWh |
$59,506 |
$678,368 |
Captured directly by Embedded Network / Microgrid Operator |
| Environmental Certificates (LGC/STC) |
4.39% |
1.17 c/kWh |
$23,408 |
$266,851 |
Generated on-site by behind-the-meter Solar PV array |
| TOTAL BUNDLED GRID BENCHMARK |
100.0% |
26.82 c/kWh |
$536,448 |
$6,115,512 / yr |
62.45% is Non-Energy (46.90% WP Network + IRCR alone) |
4. 25/30-YEAR BUILD-OWN-OPERATE (BOO) P&L, CAPEX & DEVELOPER SAVINGS
ANNUAL MICROGRID P&L RUN-RATE (FULL BUILD)
| Gross Bundled Grid Equivalent (22.80 GWh/yr) | $6,115,512/yr |
| Less: Customer Tariff Discount (21.5%) | −20% to −22% |
| Net Behind-the-Meter Retail + Network Revenue (~90–95%) | $4,800,677/yr |
Plus: WEM IRCR Peak Capacity & NSSS Credits (~5–10%)
3.08 MW net peak reduction across WEM Hot-Season IRCR intervals × ~$216,000/MW/yr capacity credit value | +$665,000/yr |
| Total Addressable Microgrid Revenue | $5,465,677/yr |
Less: Off-Peak Grid Import, Skinny CMD Tariff & O&M
Includes 11.75 GWh off-peak grid import, single 2.5 MW CMD network tariff, O&M, and asset insurance | −$3,185,677/yr |
| NET MICROGRID EBITDA (ANNUAL RUN-RATE) | $2,280,000 / yr |
CAPEX, RETURNS & DEVELOPER DEAL HOOK
Estimated Turnkey BOO CapEx Breakdown
Solar PV (5.5 MWp @ $1.10M/MWp = $6.05M) + BESS (12.0 MWh @ $0.56M/MWh = $6.72M) + HV Switchgear & Microgrid Controls ($1.63M) = $14.40M Total CapEx
Project Returns & Contracted Annuity
6.3 Years Simple Payback · ~15.1% Unlevered Pre-Tax IRR · $136.6M 25-Year Contracted Revenue (Core Plant Only)
Why the Developer Signs (CapEx & Time Saved)
Saves Ciraterra $14.4M in upfront energy infrastructure CapEx, cuts power costs by >21% ($1.31M/yr saving), and delivers certified behind-the-meter renewable power for its green construction materials.
1 Federal ASIC & ABR Registers (Reg 16 Sep 2025, GST Active 26 Sep 2025; ACN/ABN REDACTED) · 2 Corporate Filings & Curtin University Commercialisation Records (URL REDACTED) · 3 Kemerton SIA / Marriott Rd Substation Data · 4 Slide 4 Unbundled C&I Bill Model ($536,448.38 / 2.0 GWh).