Australian based Eden Energy has received a cash injection following asset sales bringing in a total of $7.6 million. The sales included two Eden subsidiaries, Eden Cryogenics LLC and Eden Hydrogen Inc (parent of HyRadix) for $2 million to an undisclosed Australian company. Eden retains the Hythane interests (a patented hydrogen CNG blend) under a newly named Hythane Company LLC. Other assets sold included some coal bed methane Interests in Wales.
The sale clears the Hythane Company to focus its key attention on the US and Indian markets, with a heavy emphasis on achieving early positive cashflow from the sale of its proprietary dual fuel kit for power generation, and at the same time actively promote the use of Hythane® HCNG as the transitional fuel between the hydrocarbon and hydrogen economies as is planned in the Indian Governments Hydrogen Roadmap.
Eden Energy Chairman, Greg Solomon says building and installation for Indian Oil Corporation of the first public hydrogen/Hythane® station in Delhi, is now complete, with all equipment having been installed and both hydrogen and Hythane® having been produced. The Petroleum and Explosive Safety Organisation (PESO) has now approved the station for operation. Hythane Company undertook and completed construction, installation and commissioning the entire station, and supplied the hydrogen electrolyser, compression, storage, blending and dispensing equipment, and all piping and electrical components.
Print 
PDF 