HB Markets plc, Registered No. 2693942, 131 Finsbury Pavement, London, EC2A 1NT
Authorised and regulated by the Financial Services Authority (Register No 155104)
Members of the London Stock Exchange and PLUS Markets
1.38p based on ASX price
Wasabi Energy has interests in three operations. It holds 96% of Global Geothermal, 50%
of Aqua Guardian and 23.3% of Australian Renewable Fuels Ltd. Most interesting of
these is Global Geothermal which owns the Kalina Cycle which increases the efficiency of
thermal power generation technologies. With a wide target market of installed
generation equipment, including a relationship that takes it into the growing Chinese
market, as well as the surge in distributed/green energy generation, Global Geothermal
has plenty of scope for growth. Encouragingly November 22nd saw Wasabi announce 2
contracts for the kalina cycle totalling 6.05MW of capacity. Wasabi’s other core
investments also offer upside (water evaporation control technology with Aqua Guardian
Group about to start commercial sales) and its holding in an Australian biodiesel facility
where a new agreement will see better capacity utilsation. Wasabi is already listed on the
Australian market (WAS.AX) and is now seeking a joint listing on the markets. With
capital appreciation expected from adoption of the Kalina Cycle, initial commercial sales
of the Aqua Gaurdian and better capacity utilisation of the biodiesel facilities we rate the
group a Speculative Buy.
LONDON (ShareCast) - Australia-based cleantech investor Wasabi Energy has completed its secondary quotation on AIM and the shares ended the day at nearly double their placing price.
ASX-listed Wasabi, whose main interest is in a business commercialising waste heat technology using the Kalina Cycle, raised £4.9m at 1.1p a share prior to joining AIM. The share price on ASX has risen since the placing was announced and was A$0.033 (2.05p) at the close of trading on 2 December.
On AIM, the share price opened at 1.5p but soon moved up to 2.4p. The closing price was 2.13p.
The Kalina Cycle process uses ammonia mixed with water so that the boiling point is lower. The technology can be used to create power from geothermal sources or from waste heat from cement plants and other industrial sites where waste heat is significant. This means that between 10% and 50% more power can be generated from the same heat input.
Your Recent History
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.
Register now to create your own custom streaming stock watchlist.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's
Terms & Conditions