MEDIA RELEASE AnaeCo successfully closes IPO despite volatile markets 31 January 2008 AnaeCo is pleased to announce the successful closing of its initial public offer. Despite the toughest market conditions for a number of years, AnaeCo has raised $5 million and will commence trading on ASX shortly under the code ANQ. AnaeCo is to build the first full scale commercial application of its DiCOM® System for Perth’s Western Metropolitan Regional Council (WMRC). The DiCOM® System is an alternative waste technology (AWT) whose main application is the processing of organic municipal solid waste in preference to landfilling, with the production of renewable energy and compost as outputs. The WMRC Project involves construction of a 55,000 tonnes per annum AWT facility as a retro-fit of a waste transfer station currently operated by WMRC. The ability to retrofit existing transfer stations with the “small footprint” DiCOM® System is one of AnaeCo’s key competitive advantages. AnaeCo’s Alliance Partner in this, and future waste treatment facilities, is Perpetual Limited. Tom Rudas, Managing Director of AnaeCo says: “We’re delighted to have closed this offer, fully subscribed, despite adverse circumstances. It’s a big vote of confidence in our technology, our business strategy and the fact that we’re already building our first facility. We’ve also found market support because of the climate change benefits in the production of renewable energy. In addition, unlike some commodities which are subject to price cycles, the production of waste is virtually recession-proof.” Construction of WMRC Stage 1 commenced in September 2007 and regular updates are posted on the Company’s website (www.anaeco.com). The facility is scheduled to become operational in the second half of 2009. In addition to the WMRC Project the Company, in conjunction with Perpetual Limited, is currently working on a tender for a similar sized waste project in Victoria. This tender is due to be submitted in April 2008. Internationally AnaeCo is working on a number of leads for potential AWT facilities in UK, Europe and USA where the drive to reduce the amount of biodegradable organic waste sent to landfill, is strong. ENDS For further information, please contact: Tom Rudas, Managing Director +618 9361 4777 David Lymburn, CFO AnaeCo Limited David Michie 0411 453 404 Mosaic Reputation Management
ANQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
