Wasabi Energy Share Discussion Threads

[witheco] 12/9/2013 07:49

REH was being supported by the advancement of the Perth wave energy project, scheduled for commissioning 2014. Bringing interest from analysts/brokers/shareholders and the Australian water corporation. This one has some potentially useful technology but the business case is harder to sell, either the share price drops, or the potential becomes more probabilistic before my entry.

[daithedeath] 29/8/2013 11:44

RNS ,Positive news on progress imho

[freddie01] 17/8/2013 18:00

Wasabi Energy pays another chunk of SSNE purchase consideration


Wasabi Energy (LON:WAS) confirmed it has paid another instalment on its purchase of a majority stake in Shanghai Shenghe New Energy Resources Science and Technology (SSNE).

Wasabi agreed last year to purchase 50.5% of SSNE for around US$30mln through its subsidiary, Wasabi New Energy Asia (WNEA). With the payment of the latest instalment of US$2.85mln, WNEA has now stumped up US$22mln, of which US$8.2mln has been in cash, with the rest satisfied through the issue of 30mln WNEA shares.

The rest of the purchase consideration is due by the end of November of this year. Wasabi says it has appointed an international brokerage house in Hong Kong to complete a fund raising before the payment deadline and ahead of a planned flotation of WNEA on the Singapore stock exchange in the first half of 2014.

Wasabi owns 40mln shares in WNEA, equivalent to two-thirds of the share capital of the company. The vendors of SSNE have a 31.25% stake in WNEA after exercising an option to take some of the purchase consideration in WNEA shares.

"Wasabi Energy intends to hold a significant shareholding in WNEA, which will raise its own capital with the value of WNEA being reflected back into the Wasabi Energy balance sheet," revealed Wasabi's chairman, John Byrne.

"Wasabi is establishing WNEA as a significant power producer in the Asian region utilising its unique ownership of the Kalina Cycle and Enhanced Rankine cycle technologies," Byrne said, adding that the establishment of WNEA is advancing the Wasabi plan of using regional subsidiaries to expand into key global regions.

"The Asian markets, and in particular China, offer an enormous opportunity for the Kalina Cycle. We are in advanced discussions with a number of significant leading industrial companies on the application of the Kalina Cycle to their operations," Byrne revealed.

[...]

[freddie01] 15/8/2013 10:51

UPDATE ON WASABI NEW ENERGY ASIA AND ISSUE OF SHARES

The Directors of Wasabi Energy Limited (ASX: WAS, AIM: WAS, OTCQX: WSBLY), advise that the next instalment of RMB18 million (US$2.85m) has been paid by its subsidiary, Wasabi New Energy Asia (WNEA), for the purchase of Shanghai Shenghe New Energy Resources Science and Technology Limited (SSNE).

As previously announced in November 2012, Wasabi, through its subsidiary, Wasabi New Energy Asia Limited, agreed to purchase 50.5% of SSNE for approximately US$30 million. To date US$22 million has been paid (US$8.2 million in cash, and WNEA has issued 30 million shares at US50c each). The balance of RMB53 million (US$8.30m) is due before 30 November 2013. WNEA has appointed an international brokerage house in Hong Kong to complete a pre-IPO fundraising within this timeframe. It is planned to list WNEA on the Singapore stock exchange in the first half of 2014.

Wasabi granted an option for the vendors to take 31.25% of their WNEA share consideration in Wasabi shares at A1.8c per share (WNEA Option). The vendors have exercised this option and as a result the vendors have been issued 288,001,844 new Wasabi shares at A1.8c per share.

Following the exercise of the WNEA Option, Wasabi owns 40 million shares (66.67%) in the issued share capital in WNEA. In addition, Wasabi has provided loan funds of $5.6m to WNEA in order to facilitate a proportion of the above payments. This loan will be converted into additional shares in WNEA at the time of the IPO at US50c per share.

Wasabi New Energy Asia is being established to address the energy efficiency and renewable power needs of the Asian market. SSNE has been operating within the market in China since 2007 and has already completed a number of projects including the successful powering of the Shanghai Corporate Pavilion at the World EXPO held in Shanghai in 2010 with a Kalina Cycle® power plant using a solar thermal array as the heat source.

Comments from the Chairman, John Byrne:

"Wasabi is establishing WNEA as a significant power producer in the Asian region utilising its unique ownership of the Kalina Cycle® and Enhanced Rankine cycle technologies.

The establishment of WNEA is progressing the Wasabi plan of regional subsidiaries to expand into key global regions. WNEA is in the process of a pre-IPO funding round and our plan is to list WNEA on the Singapore market during 2014. Wasabi Energy intends to hold a significant shareholding in WNEA which will raise its own capital with the value of WNEA being reflected back into the Wasabi Energy balance sheet.

The Asian markets, and in particular China offer an enormous opportunity for the Kalina Cycle®. We are in advanced discussions with a number of significant leading industrial companies on the application of the Kalina Cycle® to their operations."

Wasabi New Energy Asia

WNEA has been established as a regional subsidiary and covers the Asian region. In addition to owning 50.5% of SSNE, WNEA also own the revenue stream from the SSNE Kalina Cycle® license which covers China, Taiwan, Hong Kong and Macau. It also has a Kalina Cycle® license for the rest of Asia, namely Japan, South Korea, Indonesia, Philippines, Thailand, Vietnam, Malaysia, Singapore, Myanmar, Cambodia, Laos, Brunei, North Korea and Mongolia.

Under the current 12th Five Year Plan the Chinese Government is mandating energy efficiency across a range of industries and renewable power. The transformational phase in China presents a unique opportunity for SSNE to pursue opportunities for power generation within China and Taiwan and to use this base and engineering capability to launch into other parts of Asia.

SSNE is in the final stages of commissioning of a 7.5 MWe Enhanced Rankine power plant at China Building Materials Group's Guizhou cement plant. The Enhanced Rankine process offers significant percentage gains over the traditional Rankine steam cycles. In addition the 4 MWe Kalina Cycle® power plant at the Sinopec Hainan Petrochemical Facility is under construction with the civil works completed. SSNE is in advanced stages of discussions for a number of projects, including Chinese authorities on the development of an oilfield in China that has potential for geothermal power using the hot water within the field. The estimated power from this heat source is in excess of 1000MWe using Kalina Cycle® technology.

WNEA, through Recurrent Engineering, expects to be awarded shortly an engineering contract by the Geothermal Energy Research & Development organisation (GERD) as a follow up to the EcoGen Kalina Cycle® unit that is installed at the Matsunoyama onsen in Japan. This plant was installed in December 2011 and has undergone significant testing to refine the design for the micro power geothermal market.

The Ecogen Kalina Cycle® 50 kWe power plant has been specifically designed for use on hot springs. The geothermal power potential in the hot spring market within Asia is vast with over 27,000 occurrences in Japan alone. The enhanced thermodynamics of the Kalina Cycle® presents an opportunity for the establishment of micro power Ecogen Kalina Cycle® plants in Asia. Based on estimates by GERD and Wasabi Energy the existing Japanese hot spring market could potentially sustain approximately 718 MW of power generation potential which represents more than 14,000 EcoGen Kalina Cycle® units.

Japan will be a key focus area for WNEA given the high feed in tariffs that are in excess of US$0.50 per Kilowatt hour for geothermal power generation.


Following admission of the above shares, expected to be on 21 August 2013, the Company will have 3,718,173,710 Ordinary Shares of no par value in issue. The figure of 3,718,173,710 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

[sikhthetech] 14/8/2013 08:22

hi jw, it was funny.... it was temporary for obvious reasons..
email us for a catch...

[jwoolley] 14/8/2013 08:03

Cheers....that did crack me up....defo not the last one I had....!

[sikhthetech] 14/8/2013 07:57

Hi Jw, just been enjoying summer with the family...

[jwoolley] 14/8/2013 06:48

Alright sikhers....I hope this means you have started to look into these now with you posting here....or is it a case of getting sick of those other boards...lol!!

Don't miss out on the bottom on these....but reckon unless nothing exciting is released before March next year, the price won't change that much.

I've lost your email address in order to sort out the catch up...will be here for a while this morning before going out.

Still not left the UK yet...things have got a little held up but reckon leaving first or second week in September.....just in time for a big announcement over at you know who...!!

Hope all is good with you. Are you looking at any other newbies for long term hold............remember this one is a 5 year hold to get full potential.

All the best buddy.....and sorry to everyone else for off topic....!!

[sikhthetech] 13/8/2013 14:27

Jw, how's it going?

[nw99] 07/8/2013 17:43

Big move here the start of something ?

[freddie01] 02/8/2013 16:00

WHR in the cement industry – Part 2: Organic Rankine Cycle
ORC is a variant of the steam cycle, but in this case an organic compound (e.g. pentane or butane) serves as the working fluid. An important feature of this type of system is the incorporation of an intermediate loop so that heat is transferred initially from the energy source to a heat transfer fluid – usually a thermal oil or water – that then transfers heat to the organic compound, which vaporises. The intermediate loop provides greater operational flexibility and improved process control. Subsequently, the vapour is expanded through a turbine and the organic fluid is condensed in a cooling circuit. Consequently, an ORC unit is conceptually very similar to a Rankine Cycle, if somewhat more complex. It is claimed that, for a typical cement plant, 0.5 – 1 MW of power can be generated per kilotonne of clinker produced per day.

This type of system has several advantages relative to the steam cycle. Since the temperature of evaporation is lower, heat to boil the working fluid can be extracted from gases at a lower temperature (i.e. 350 °C) than would be feasible with a steam cycle. Furthermore, since the system is designed with the condensing pressure just above atmospheric, the need for a deaerator is eliminated since inward leakage of air is avoided. As a result of the density differences of the fluids, the turbine has fewer stages than in a steam cycle and the piping to the turbine from the heat exchanger can be smaller in diameter. These features can contribute to reduced costs. Significantly, the working fluid remains dry throughout the process so that the erosion risk noted in the case of the steam cycle is avoided; this is an important feature of the ORC.

There are also some disadvantages; an ORC unit will generate less power than a steam cycle operating with similar conditions and costs can be higher for specific applications. Also, as might be expected, the fluids used in an ORC cycle are combustible and if leakages occurred an environmental hazard could result.

The first unit of this type was installed by Ormat Technologies in the Lengfurt plant of HeidelbergCement in 1999 with a generating capacity of 1.2 MW.

Several ORC units have been installed in cement plants, including systems provided by Turboden, a Pratt and Whitney company, and by ABB, so that the Organic Rankine Cycle has matured to the stage where it is now considered to be a well-established technology for WHR.

[freddie01] 02/8/2013 15:59

WHR in the cement industry – Part 1: Conventional Rankine Cycle
Introduction

The trend towards increasing costs of primary energy sources such as fossil fuels, and the need to reduce harmful emissions – particularly of carbon dioxide – is driving a worldwide effort to improve the efficiency of energy usage in industrial processes. Estimates suggest that roughly 66% of all the energy input is lost as waste heat and in the cement industry specifically the loss is estimated as 40%. With the tendency towards ever more stringent environmental constraints and the need to reduce the carbon footprint for individual organisations, the potential to generate electrical energy from waste heat will continue to be an attractive option.

The first major waste heat recovery (WHR) system in a cement plant was the 15 MW unit installed by Kawasaki Heavy Industries for Taiheiyo Cement in 1982. This was a conventional Rankine Cycle using heat from both the kiln and the clinker cooler. As the benefits became generally recognised within the industry, WHR units, the vast majority of which involved the conventional Rankine Cycle, were installed to provide up to about 30% of the power requirements of the plant. The main sources of waste heat were the exhaust from both the preheater and the clinker cooler and, in some of the developing countries where power outages are not unusual, the WHR system may be the only source of reliable power available to the plant operator.

Improvement in the overall efficiency of cement manufacture has resulted in lower exhaust gas temperatures and this development has provided opportunities for alternative technologies, notably the Organic Rankine Cycle (ORC) and the Kalina Cycle, which are more effective in recovering waste heat from lower temperature gases.

Conventional Rankine Cycle

By far the most widely used technology for the generation of power from waste heat involves the Rankine Cycle. As the name suggests, the conventional Rankine Cycle involves the transfer of heat from the waste heat source to convert water from the condenser to steam, which is then superheated – i.e. heated to a temperature above the saturation temperature at the given plant operating pressure. Subsequently, the steam is expanded through a steam turbine driving the generator to produce power. This is the process used in conventional fossil fuel-fired power plants, but in the case of WHR in cement plants the maximum temperatures are much lower – usually in the range of 300 to 350 °C – and consequently the plant operating pressure is also significantly lower, i.e. around 2.5 MPa (25 bara). In order to maximise the efficiency of the cycle, the pressure in the condenser is minimised, which will affect the steam quality, thereby increasing the content of water droplets that can cause erosion of the turbine blades. In a cement plant there can also be significant variations in the temperature of the hot air emerging from the clinker cooler, resulting in variability in the steam temperatures in the system, potentially exacerbating the erosion problem.

A key point is that if waste heat from both the preheater and the clinker cooler is used to generate power it is necessary to provide two boilers, i.e. one for each heat source, and this adds to the cost and complexity of the system.

A good example of the current trend towards larger WHR plants is provided by Najran Cement Company of Saudi Arabia, which commissioned the Chinese company, Sinoma Energy Conservation Limited, to install a turnkey unit at the Sultana cement plant. The WHR unit is designed to provide 27 MW of power at a projected cost of just less than US$45 million and will be the largest WHR unit in the global cement industry in terms of generating capacity. The system consists of a total of eight boilers plus associated equipment using waste heat from the cement plant along with ten boilers taking waste heat from diesel generators. It is estimated that CO2 emissions will be reduced by 145 000 tpa when the plant is fully operational.

[daithedeath] 24/7/2013 07:25

Cheers Wilba

[wilba] 24/7/2013 07:16

Txfer between funds.

[daithedeath] 24/7/2013 07:08

700000 AT & 700000 UT ? any thoughts,tia

[freddie01] 16/7/2013 07:06

Power group Wasabi Energy (LON:WAS ASX:WAS) has placed the rump of shares not taken up in its recent rights issue.
A third of shareholders took up the rights in June, but Wasabi has now placed the remaining 254.6 mln shares with one institutional investor at A0.8c, the same price as the rights issue.
The total consideration from the placing was A$2mln. There is also an option to buy the same number of shares at 0.8c by the end of next March.
Wasabi has a target of 25 megawatts (Mw) of output by 2015 and to add 25Mw per year thereafter.

[akramms] 12/7/2013 10:27

12/07/2013
Wasabi: Notice of General Meeting / Proxy Form

[freddie01] 04/7/2013 05:28

But it takes him up to 11.1% of the company.

[newkid] 03/7/2013 23:39

freddie01. He's spent under £2k.