Sales Renewable Energy is in the process of finalising the sale of energy generation equipment, which upon settlement will result in the Company receiving $650,000 to $700,000 in net proceeds. This equipment was purchased by the Company in 2002 and has been written down to nil value in the Company’s accounts.
Joint Ventures Renewable Energy continues to examine joint venture opportunities to assist in both the technology and business development of the Company’s biomass waste energy products and is currently in discussions with a significant renewable energy sector participant, based in South Carolina, United States. These negotiations are at an early stage and representatives of Renewable Energy plan to make site visits in August to progress the joint venture opportunity.
Following the increase in sentiment to the renewable energy sector, the Company is also assessing the licensing of its biomass products in the smaller markets, which may allow the Company to generate royalty revenues without the associated manufacturing risks. New Business In line with the improved market sentiment in both the renewable and other energy sectors, the Company is being presented with a substantial number of associated new business opportunities. The Company continues to evaluate new business opportunities and will make an announcement to the ASX when appropriate.
REL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
