Australia, Perth
West Australian based Eden
Energy, has had a busy week last week, listing on the Australian Stock
Exchange, forming a strategic alliance with Advanced Engine Components
(AEC), also based in Western Australia and the announcement of a major
technology award win for subsidiary group The Hythane Company.
The company closed it’s IPO early, securing $AU8.4 million ($US6.28
million) of a targeted $AU10 million ($US7.48 million) in funds, in
order to progress a number of projects without delay.
Eden Energy’s Chairman, Mr Greg Solomon released an aggressive project schedule last week including:
• Patents, Trademarks and Technology Development
In addition to worldwide patent already secured, patent applications
are pending for a range of strategic technologies. These cover improved
cryogenic storage, the production and blending of cryogenic Hythane® (a
mixture of hydrogen and LNG), a low cost blender able to mix hydrogen
and natural gas, a unit to produce Hythane® directly from natural gas
and various stage Hythane® patents and trademarks in the US, Canada,
Australia, New Zealand, China, India, Russia and Singapore.
• Hythane®
In California, following the signing of a Memorandum of Understanding
with the City of Barstow for a Hythane® demonstration project, it is
expected that necessary funds will be procured within the next three to
six months.
In the US, negotiations are underway for several similar Hythane®
demonstration projects in Los Angeles and elsewhere in the northeast of
the United States.
In India, advanced negotiations are underway in relation to an initial
Hythane® engine conversion by the end of 2006 for a leading Indian
natural gas bus engine.
In China, an intensive marketing program for Hythane® is about to
commence, following Eden’s successful conversion there of a leading
Chinese natural gas engine used in public transport fleets.
In Europe, negotiations are underway for a series of projects,
including providing a blender in Italy’s first multi-fuel integrated
service station, a Hythane® engine conversion for a leading European
natural gas engine manufacturer; plus various technology supply and
distribution agreements across the Continent.
In Australia, an agreement has been executed with Advanced Engine
Components Ltd (AEC), a Perth-based manufacturer of equipment which
enables engines to operate on Natural Gas, for each company to
collaborate on a non-exclusive basis in marketing each others’ products. This is anticipated to assist in the earlier penetration of Hythane
into many potentially large markets, including China, India and Europe,
where AEC is already operating.
The company also has other energy related projects under way.
On the day following Eden’s listing, subsidiary The Hythane Company,
based in Colorado, received the 2006 CSIA Apex award for Best Use of
Technology for a Global Impact from Colorado’s Technology Association,
said to be one of the largest annual technology award events in the
United States.
Denver-based event organisers bestowed the honour on Eden for its
efforts to reduce air pollution through the development of Hythane®,
reducing vehicle emissions by half over conventional natural gas.
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