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Supply Chain Review reports that in an Australian first, Axiom Energy will produce low sulphur diesel from waste plastics that until now could not be recycled and would otherwise end up as landfill. Axiom Energy also plans to be the largest producer of biodiesel on the Australian Eastern seaboard. Biodiesel is produced from renewable plant oils, animal fats as well as used cooking oils.
Australian investors are being offered a stake in Axiom Energy Limited A$37.6 million initial public offering, which opened 29 August 2005. A total of 47 million shares at 80 cents each is on offer raising A$37.6 million and creating a market value at listing of A$82.7 million. The proceeds of the IPO will be used to acquire, upgrade and expand Axiom Energy‘‘s fuel plants.
Axiom Energy Limited, Managing Director, David Vinson, says the company is seizing the opportunity by pursuing economically viable solutions to meet the growing need for sustainable energy sources.
"The entry of these two products – low sulphur diesel and biodiesel into the market is well timed with a growing Australian diesel fuel market, rising crude oil prices, increasing demand for environmentally friendly and sustainable fuels and government tax incentives to promote the use of these fuels," says Vinson. "Axiom Energy has an agreement in place with a national petro-chemical distributor to distribute production output of both low sulphur diesel and biodiesel for sale in the growing diesel market in Australia," he says.
Axiom Energy‘‘s Low Sulphur Diesel is to be made from waste plastics and will be an automotive diesel fuel, which will have a sulphur content of less than 50 ppm. It will meet the new Australian mandatory standard enforceable from 1st January 2006. Axiom Energy Limited first two low sulphur diesel from waste plastic plants will be built at Laverton, and commissioned in July 2006. These plants are forecast to produce 11 million litres of low sulphur diesel.
Axiom Energy has scope to build 13 more plants across Australia and New Zealand over the next five years as part of Axiom Energy‘‘s exclusive agreement with the technology provider, Australian company Ozmotech
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