Axiom Energy to Build 150 Million Litre Per Annum Biodiesel Facility at Geelong Port
Axiom Energy, a renewable energy producer, plans to construct a 150 million litre per annum biodiesel manufacturing facility at the Geelong Port in Victoria. The facility will produce biofuel from animal fats and plant oils, with the potential to double production capacity in the future. Axiom's managing director, Danny Goldman, expressed confidence in the project, citing the site's suitability and the company's ability to adapt to changing regulatory environments.
Key Takeaways:
- Axiom Energy has entered into preliminary agreements with Toll Holdings Ltd and Terminals Pty Ltd to secure a long-term lease holding for a one-hectare site at the Geelong Port.
- The planned 150 million litre per annum biodiesel facility will produce biofuel from animal fats and plant oils.
- Axiom has secured a grant to offset excise on biodiesel production from animal fats and plant oil until 2011, which will then be progressively phased out by 2015.
- The Geelong facility is expected to produce virtually no atmospheric emissions, with approximately 16 ship visits annually.
- Axiom Energy has previously withdrawn its prospectus and refunded $A37.6 million raised in an initial public offer last year.
- The company may consider re-attempting to list on the Australian Stock Exchange later this year.
Statistics:
- 150 million litres: proposed annual biodiesel production capacity
- $A37.6 million: amount refunded by Axiom Energy after withdrawing its prospectus
- 2011: year in which a grant to offset excise on biodiesel production from animal fats and plant oil will expire
- 2015: year in which the grant will be progressively phased out
- 16: estimated number of ship visits to the facility annually
Sources:
- Section 1, Axiom Energy Ltd (2005)
- Macquarie Equities Research Report (2005)
- Australian Securities and Investments Commission (ASIC)
- Geelong Port Authority