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We got big bucks backing (fingers crossed)The directors are pleased to advise that they have agreed to make placements to the value
of between $12.5 million and $20 million by the issuing of fully paid ordinary shares at an
issue price of $0.60 per share to various institutions and sophisticated investors in Australia
and United Kingdom in accordance with sections 708(1) and 708(8) of the Corporations
Act 2001 (“the Act”) and under the 15% placement rule of the Australian Securities
Exchange Listing Rules.
The precise number of shares to be issued (and the amount to be raised) will be announced
within the next 3 days.
These shares will be issued subject to the passing of the resolutions at the general meeting
of shareholders to be held on Wednesday 11 July 2007.
A commission of 5% of the value of the funds raised is payable to licenced stock brokers
in Australia and United Kingdom who are arranging the placements.
The funds raised will be used for the purposes to meet the Company’s ongoing working
capital requirements.
For me this is one of the first stocks i bought at 22c and more at 35c, as i was looking towards energy stocks with a green outlook and also companys that have a niche market, i see a lot of potential upside fundamentally, especially with their HYTHANE (Gas hydrogen blend) They have the idea pretty much sold in INDIA, Still awaiting that motor that was converted in the U.S and is enroute back to india for final testings, They also own Liquid nitrogen storage, Geothermal licences in AUS, coal bed methane in U.K, These guys have alot of stuff that could potentially make BIG $$, Therefore i feel that this Extra $$ coming in from BIG investors will definately prop them up for their future expansion on all of the buisness fronts, Hope the market favours this step, I will be hanging on and when more funds are available i will be topping up some more. In some instances i hope the price stays stagnant till i can raise more funds. See how monday goesBB, what do you reckon for EDE?
I've not had the opportunity to buy in yet, my funds tied up in some other stocks.
big gap up on Mon?
In some instances i hope the price stays stagnant till i can raise more funds.
• Indian Government announces a target of having all Natural Gas
powered vehicles, estimated at 1 million vehicles or 20% of the whole
Indian vehicle market, running on Hythane® by 2020.
• Highly encouraging progress on conversion of first Indian Natural Gas
Bus engine to Hythane® operation.
• Conversion of first Indian manufactured 500kva diesel generator to a
dual fuel operation (diesel and Hythane®) has commenced in Colorado.
• Costing and preparations for production in India of first HyRadix
hydrogen reformer nearing completion.
• Demonstration projects for both Hythane® fuelled buses and Hythane®
dual fuel generator planned for second quarter 2008, both of which are
planned to progress directly into commercial operations.
• Negotiations underway for conversion of a second Indian Natural Gas
bus engine and a mini-bus engine to Hythane® operation.
• Drafting of proposed Hythane® safety standards and regulations for
India nearing completion.
• Marketing in India of HyRadix hydrogen reformers for the industrial gas
market commences and negotiation for a strategic alliance underway.
• Indian subsidiary company established and first staff engaged to manage
Indian operations
No, But they had an announcement out todaythat looks to be a pretty good tool. let us know when the next one's coming eh. lol.
anyone know how their geothermal plays are progressing?
Fingers in all sorts of energy piesHIGHLIGHTS
• Second Coal Bed Methane well of South Wales (U.K.) farm-in project
drilling ahead at 200m.
• Drilling of first well completed at 429m.
• Encouraging preliminary gas content results (up to 9m3/t) with gas
content increasing with depth.
• Encouraging moderate to high permeability results (18mD and 44mD).
• Nett Coal intercepts of 15.8m in 12 seams, thickest seam 2.4m.
• Major potential customers and gas pipelines within licence area.
• High UK gas prices.
Des Plaines, IL, USA – HyRadix ® Inc., a leading provider of on-site hydrogen generation systems and
supply solutions announced today an agreement with Pilkington North America, part of the NSG Group of
Japan, to supply an Aptus ® hydrogen generation unit. The Aptus plant, producing 100 Nm3/h of high purity
hydrogen will be located at one of Pilkington’s U.S. sites
“We are pleased to have been selected by a leader in the float glass industry,” said David Cepla, President
of HyRadix. “The float glass industry has demanding product reliability requirements and this installation
says a lot about the maturity and reliability of the Aptus product. With the installation of the Aptus unit before
year-end we will have operating plants in each of our main targeted industries; float glass production, edible
oils hydrogenation, and metals annealing.”
“Our team sees an opportunity for an increasing role for on-site hydrogen generation not only in North
America, but also in float plants in other parts of the world, particularly sites in developing countries or
remote locations,” said David Robinson, manager of Pilkington North America’s, Laurinburg (NC) plant. “We
thoroughly reviewed the Aptus technology and feel it offers the performance we require. We’re anxious to
get it installed so we can begin to realize further process efficiencies.”
The HyRadix Aptus hydrogen generation system allows customers to have on-site control over their
hydrogen production with high reliability for uninterrupted manufacturing processes. The systems produce
high purity hydrogen between 50 Nm3/h (1850 scfh) and 100 Nm3/h (3900 scfh) from a feedstock of natural
gas or liquefied petroleum gas (LPG) and can be combined to generate up to 300 Nm3/h (11,700 scfh) very
economically compared to alternative means of delivered hydrogen.
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