Plastics-to-fuel tech play Integrated Green Energy finally nears ASX re-listing
It’s taken two years, but former Papua New Guinea-focused explorer Foyson Resources is set to re-list on the ASX as plastics-to-fuel tech play Integrated Green Energy.
A year ago Foyson (ASX:FOY) announced the acquisition of Integrated Green Energy (IGE) but after a series of false starts and four prospectuses the company say it’s now good to go.
Under the new name of Integrated Green Energy Solutions (ASX:IGE), the company successfully raised $6.5 million at 20c a share and completed the IGE deal.
“There will be further announcements relating to the company’s expected re-listing date shortly as the final administrative steps are completed in conjunction with the ASX,” IGE told investors last week.
Singapore-based IGE is marketing three technologies which turn plastic to fuel, biomass to energy and biomass to liquid fuel.
As yet, however, the technology has not been tested in a commercial capability.
IGE will initially focus on its plastic-to-fuel technology which, according to the company, can turn a tonne of plastic into 850 litres of diesel, 212 litres of petrol and 150kg of LPG.
Pilot tests are focused on conclusively proving the technology commercially.
IGE has a US project with joint venture partner GEP Fuel and Energy Indiana, which aims to process 1500 tonnes of crushed-up car and household appliances, as well as three 200-tonne per day sites in preparation stages in the UK and Netherlands.