Bisan Limited: P-Fuel Plant To Be Constructed In United Kingdom

Jul. 01, 2015 7:51 PM ET
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Bisan Limited (ASX:BSN) holds around a 16% stake in P-Fuel Limited, which has now secured a significant milestone.

The P-Fuel technology effectively creates a positive fuel source from waste plastics, and provides an alternative to biofuel.

P-Fuel and the UK based Appley Bridge Biomass Energy Limited will formalise a lease arrangement on an industrial park site for the construction of the first P-Fuel waste plastic to fuel commercial plant.

The site is located at Appley Bridge near Wigan in the UK.

P-Fuel has engaged the services of UK engineering consultancy group Stopford Projects Limited who are working with P-Fuel to apply for planning and environmental approvals to build, construct and operate the plant.

Patrick Volpe, chairman of P-Fuel, commented:

"P-Fuel now has a site location to launch and commission its first operating plant."

This is a significant milestone for the company, as it had various locations around the globe it was reviewing.

Volpe added: "The UK Government are very supportive of the P-Fuel type of technology that effectively creates a positive fuel source from one of the world biggest nuisances - waste plastics.

"These waste plastics not only take hundreds of years to rid themselves from the environment but also consume valuable land mass."

"We are diverting the waste plastics from landfill and creating a positive usable fuel that can be sold as an alternative to virgin fossil fuel or biofuels within an economic model.

"Our fuels provide an alternative to biofuel that may use organic or plant inputs as stock feed which in some cases is also used as a food source for human consumption.

"The UK is also well situated as a launching pad for P-Fuel into the European Union, the Middle East and African countries with more opportunities in other parts of the world."

Now that P-Fuel has a settled on a location, discussions with several companies and municipalities interested in supplying waste plastics for the plant as a feed stock, can continue with the objective of formalising agreements in the short term.

Analysis

Bisan holds around a 16% stake in P-Fuel Limited, which has a technology that effectively creates a positive fuel source from waste plastics.

P-Fuel now has a site location to launch and commission its first operating plant, in the United Kingdom.

Potential applications for the P-Fuel technology are numerous and the company has received expressions of interest from many countries around the global.

Key catalyst:

Once P-Fuel can lock in off-take agreements for the final fuel and energy produced.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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