Delorean rebrands subsidiaries under a single banner
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Delorean is underlining its goal to become a leading bioenergy company by branding all of its subsidiary companies under Delorean Corporation.
This change will reflect its position as a single, vertically integrated company with several key divisions.
Under the rebranding, Delorean Energy has become its Infrastructure Division, Cleantech Energy its Energy Retail Division, while Biogass Renewables will transform into its Engineering Division that will absorb Tekpro.
Delorean Corporation (ASX:DEL) managing director Joe Oliver said the change reflects the company’s commitment to grow its bioenergy portfolio and provide clarity to the market on its strengths and plans for the future.
The company specialises in the design, build, ownership and management of bioenergy infrastructure, in addition to bioenergy power generation and energy retail.
It seeks to use anaerobic digestion to convert organic waste from landfill that can be used to produce clean energy, including mains grade biomethane.
In recent months, the company has reached agreements with Brickworks and AGIG.
Under a Memorandum of Understanding (MOU) Delorean and Brickworks agreement will undertake a feasibility study (and seek development approval) to build and operate bioenergy facilities converting organic waste to green gas and electricity, funded by Brickworks.
Under the AGIG deal, the two companies will look to establish a mutually acceptable business model to develop, construct, own and operate anaerobic digestion plants to supply biomethane into AGIG networks.
Delorean branding consolidation comes as the Australian government released its Bioenergy Roadmap today.
The Roadmap lays out a vision for a sustainable bioenergy industry that can help lower emissions, increase fuel security, enhance waste recovery, and deliver economic benefits.
It models the potential for the sector to contribute around $10 billion to Australia’s GDP annually and create 26,200 new jobs, reduce emissions by about 9%, divert an extra 6% of waste from landfill, and enhance fuel security.
This article was developed in collaboration with Delorean Corporation, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.