SURF LAKES AND APP CORPORATION ANNOUNCE GLOBAL STRATEGIC PROJECT PARTNERSIP
Surf Lakes Holding Ltd, owner of the 5 Waves prototype concentric wave machine in Yeppoon, Queensland, have signed a global Strategic Project Delivery agreement with national property and infrastructure consultancy APP Corporation (APP).
The agreement appoints APP as Project Director for Property Strategy and Development Advisory Services for the expansion and potential rollout of the Surf Lakes 5 Waves technology to a range of licensees nationally and internationally. APP will initially produce a Development Delivery Strategy report and provide general advice.
5 Waves is the world’s largest wave pool, with the capacity to generate five types of waves in one activation of a central swell. At its highest capacity, the wave pool can generate 2000 waves per hour across the 360-degree lake design.
Recognising the potential for expanding the wave technology into regional communities, APP’s Project Director Lewis Glynn approached Surf Lakes with an offer to set up a governance structure which would identify project development risks early. “We’ve been working in the sporting and hospitality sector for almost three decades, helping organisations to manage and mitigate their risks on major public projects. I wanted to help Surf Lakes because it’s exciting to be part of a new industry and they are at the forefront globally”.
Aaron Trevis, CEO of Surf Lakes, welcomes the business acumen, strategic capability and risk management that APP brings to drive the venture to the next level. “The Delivery Strategy is a road map for how we take our patented Australian technology to the world,” said Mr Trevis. “It will provide a reassuring level of comfort for investors and licensees, as part of their decision-making process, that this venture is a sound economic investment.”
APP’s CEO Adam Castro is delighted to be part of an innovative project that will brings surfing within
reach of regional and inland populations. “5 Waves is a game-changer on many fronts and as a piece of social infrastructure it has the capacity to act as a catalyst for regional activation. Other businesses will be drawn into the area and this has to be a good thing for regional economies.”